- EBITDA rose 22 per cent to €58.4 Million
- One million new members every six months
- Executive Board to propose dividend increase of 23 per cent to €1.68 per share to the Supervisory Board
Hamburg, 23 February 2018 – Today XING SE, operator of the leading online business network in German-speaking countries, has published its preliminary unaudited figures for the 2017 fiscal year. According to those figures, 2017 was the most successful year ever for XING with the company welcoming two million new members, which is a new record for member growth within a single year. XING also grew its total revenues to € 187.8 million, which represents 26 per cent year-over-year growth (2016: €148.5 million). Following adjustment for the acquisition of Prescreen and InterNations during 2017, XING reported total growth of 23 per cent.
EBITDA rose 22 per cent to €58.4 million
The B2C segment, which reports earnings from paid end-customer offerings, grew strongly again during the period under review with revenues increasing 16 per cent to €89.5 million (2016: €77.2 million). The B2B E-Recruiting segment again reported the strongest revenue growth, rising 41 per cent to €76.7 million (2016: €54.4 million). The B2B Advertising & Events also reported strong growth with revenues rising 33 per cent to €17.9 million (2016: €13.5 million). XING’s EBITDA increased 22 per cent to €58.4 million in total (2016: €47.9 million), while net profit climbed 10 per cent to €25.9 million.
One million new members every six months
XING also achieved a new record in terms of member growth by adding a total of 2 million new members to the largest online business network in German-speaking countries in fiscal year 2017. Member growth for 2016 stood at 1.8 million. As a result of this record growth, XING membership rose to in excess of 13.4 million as of the end of 2017. Taking into account XING Events users, total membership reached the 14.3 million mark at the end of December 2017. The number of paid members in German-speaking countries rose by around 65,000 to 994,000 in total.
Thomas Vollmoeller, CEO at XING SE, said: “2017 was an extremely successful year for XING. We grew strongly in every segment of the business and welcomed around one million new members every six months. This makes us the fastest growing online business network in German-speaking countries. We’re also in an excellent position to generate future growth, on the one hand thanks to new products and acquisitions, on the other hand due to our commitment to “New Work”, a concept that matters to an increasing number of people.” In keeping with this, XING created the New Work Award in 2013 in honour of forward-thinking ways of working. The New Work Experience will be held at the Elbphilharmonie in Hamburg, Germany, on 6 March and is the largest event on “the future of work” in German-speaking countries. The event has been sold out for some time now.
From a product perspective, in December XING rolled out betas of its brand-new app for iOS and Android. This new version of the app introduces a new operating concept that sets it apart from the previous XING app and other social network apps. One particular highlight enables users to swipe through content horizontally. XING has also developed its video offerings on the platform and introduced a new video podcast series called XING Talk. Famous figures in Germany such as Prof. Dietrich Grönemeyer and Michel Abdollahi have starred so far along with various video podcasts involving a wide range of industry insiders. XING Executive Circles are aimed at executives. A single XING Executive Circle consists of a fixed group of around 15 executives who meet up several times per year to share their views on specific career and business-related challenges. Not only do they have an opportunity to add valuable new contacts, they also gain useful insights and ideas for their business directly from the mouths of other top decision-makers.
XING’s B2B segment also developed a number of new products during the past year. At Germany’s top recruitment trade fair, Zukunft Personal, XING rolled out a new modern recruiting tool called the XING TalentpoolManager which enables recruiters to engage in forward-thinking candidate management by building talent pools irrespective of current vacancies. This new tool forms part of the holistic XING E-Recruiting 360 package tailored to cover every digital recruiting need.
XING’s two acquisitions provide the company with additional impetus for further growth. Within the space of a single week XING first acquired Prescreen, Europe’s fastest growing applicant tracking system (ATS) provider, and then InterNations, the world’s largest expat community. Prescreen will enable XING to offer HR managers a software-based solution to effectively and efficiently manage the entire hiring process, starting with identifying a vacancy through to hiring a successful candidate. XING’s acquisition of InterNations will help to bolster the company’s strong position in the offline event business.
Executive Board to propose dividend increase of 23 per cent to €1.68 per share to the Supervisory Board
On the basis of the company’s preliminary unaudited figures for the 2017 fiscal year, the XING Executive Board resolved to put forward a proposal to the Supervisory Board to increase the dividend from €1.37 to €1.68 per share.
After approval of the audited consolidated financial statements by the Supervisory Board, the dividend distribution proposal is to be presented to the Annual General Meeting for resolution. Subject to approval by the Supervisory Board and the respective shareholder approval at the Annual General Meeting, the total dividend payment will amount to around €9.4 Million.
The leading social network for professional contacts in German-speaking countries accompanies its members through the process of change in the world of work. Against the backdrop of skills shortages, digitalisation and a shift in values, XING supports more than 13 million members in reconciling work and private life as seamlessly as possible. Members are thereby able to use XING Jobs to search for a job that suits their individual needs, stay up to date with news offers on XING, participate in discussions, and find out about the changes and trends in the new world of work in the XING spielraum portal. At the beginning of 2013, XING strengthened its position as a market leader in social recruiting by acquiring kununu, the market-leading platform for employer ratings in German-speaking countries. XING was established in 2003 and has been listed on the stock exchange since 2006. It has been listed in the TecDAX since September 2011. XING members interact in around 80,000 groups or network in person at one of the over 150,000 professional events each year. XING has offices in Hamburg, Munich, Barcelona, Porto, Vienna, and Zurich. Visit www.xing.com for further details.