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XING continues strong growth in first nine months of 2018

News
  • Total revenues for first nine months up 21 per cent following adjustment for acquisitions
  • More than 1.4 million new members since start of year; 15 million member mark passed
  • XING celebrates 15th anniversary with New Work Trendbook

 

Hamburg, 7 November 2018 – XING SE, operator of the leading online business network in German-speaking countries, has continued its unabated growth course by welcoming 1.4 million new members to the platform in the first nine months of 2018. This growth is reflected in XING’s other financials where total revenues came to €170.0 million for the first nine months of 2018, an increase of 26 per cent compared to €134.9 million for the first nine months of 2017. Following adjustment for the acquisition of Prescreen and InterNations in June 2017, XING saw organic revenue growth of 21 per cent.

Total revenues for first nine months up 21 per cent following adjustment for acquisitions

The B2B E-Recruiting segment, which helps HR departments fill specialist vacancies, remained the largest revenue driver with revenues of €77.9 million, up 40 per cent compared to €55.6 million in the first nine months of 2017. Following adjustment for the Prescreen transaction, this equates to growth of 38 per cent. The second-strongest revenue driver was the B2C segment where revenues from paid offerings for end customers rose by 14 per cent (by 5 per cent following adjustment for the InterNations acquisition) from €65.1 million in the first nine months of 2017 to €74.3 million in the first nine months of 2018. The B2B Advertising & Events segment also reported strong revenue growth of 25 per cent, up from €11.4 million in the first nine months of 2017 to €14.3 million during the period under review. The segment’s EBITDA for the first nine months came to €53.3 million, up 17 per cent from €45.7 million yoy, while earnings for the period grew 18 per cent to €24.5 million.

Thomas Vollmoeller, CEO at XING SE, said: “We’re still well on course and continue to consolidate our position as the leading online business network in German-speaking countries. XING enjoys strong growth in every segment of the business because we help our members and companies benefit from the changes taking place in the world of work.”

More than 1.4 million new members since start of year

More than 1.4 million people signed up for a profile on www.xing.com during the first nine months of the current fiscal year, taking the total to over 15.8 million users and 14.8 million members as of the end of the third quarter. At the beginning of November, XING achieved a milestone by passing the 15 million member mark. Since the beginning of 2018, the B2B E-Recruiting segment has acquired over 2,300 new corporate clients who subscribed to a licensing package for at least one XING product.

XING celebrates 15th anniversary with New Work Trendbook

How will we work in the future? XING decided to mark its 15th anniversary by cooperating with the renowned German future researcher Professor Peter Wippermann to investigate this question. The New Work Trendbook describes 15 trends that are set to shape the world of work over the coming years and comprises three chapters, New Me, Deep Progress and Next Social. The Trendbook covers the main developments set to affect workers, companies and society as a whole, with facts and figures backed up and contrasted by way of a survey conducted among XING members.

 

About XING

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 15 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 90,000 groups or network in person at one of the over 130,000 professional events each year. XING has offices in Hamburg, Munich, Barcelona, Porto, Vienna, and Zurich. Visit www.xing.com for further details.