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XING SE starts 2019 with significant growth

News
  • YoY revenues rise 18 per cent
  • More than 500,000 new XING members since start of year, 16-million-member mark reached in May
  • Honeypot acquisition adds New Work player to brand portfolio

 

Hamburg, 3 May 2019 – XING SE has grown significantly again during the first quarter of this year. A total of 531,000 new members registered on the XING platform in the period ending on 31 March 2019. This growth is reflected in XING’s other financials, with Q1 revenues growing by 18 per cent to EUR 62.6 million (Q1 2018: EUR 53.0 million).

YoY revenues rise 18 per cent

The largest revenue driver was again the B2B E-Recruiting segment, which helps HR departments in their quest for talented new hires, where revenues grew by 31 per cent to EUR 31 million (Q1 2018: EUR 23.7 million). Meanwhile, revenues for the B2C segment, which include income from paid offerings for end customers, rose by 5 per cent to EUR 25.4 million (EUR 24.2 million). The B2B Marketing Solutions & Events segment reported growth of 22 per cent, with revenues climbing from EUR 5.0 million in Q1 2018 to EUR 6.1 million in Q1 2019. EBITDA for Q1 came to EUR 17.7 million (Q1 2018: EUR 14.8 million), which equates to 20 per cent YoY growth. Group earnings rose from EUR 6.1 million to EUR 8.9 million during the first quarter of 2019, while earnings per share for the period increased accordingly from EUR 1.09 to EUR 1.58. Adjusted for a positive special effect in connection with assuming majority control of kununu US, group earnings totalled EUR 7.6 million, up by 24 per cent, with earnings per share of EUR 1.35.

Thomas Vollmoeller, CEO at XING SE, said: “We got off to a good start to the year with growth in every segment. Thanks to our commitment to the future of work, which is a hot topic right now, we are also in an ideal position to continue our excellent growth trajectory.”

More than 500,000 new XING members since start of year, 16-million-member mark reached in May

A total of 531,000 new members registered on the XING platform during the period under report, meaning that XING had 15.9 million members as of the end of the first quarter. At the start of May, XING even reached the milestone of 16 million members in German-speaking countries. Including XING Events users, the total number of XING users reached the 17.0 million mark. As of the end of March 2019, 1.04 million members were using paid XING products, an increase of 14,600 during the first three months of the year (including a positive effect of around 8,300 payers resulting from a change to the calculation method used). In addition, the number of B2B E-Recruiting subscription customers grew by 37 per cent to 11,731 (Q1 2018: 8,564).

Honeypot acquisition adds New Work player to brand portfolio

In March, XING SE hosted the third edition of the New Work Experience (NWX) in March. The annual event, held for the second time in a row at the Elbphilharmonie in Hamburg and completely sold out, provided insights into New Work from a variety of different angles. With seven stages on offer, attendees enjoyed a line-up of more than 40 first-rate speakers, including New Work pioneer Frédéric Laloux, neurobiologist Gerald Hüther, and former Foreign Minister Joschka Fischer.

At the beginning of April, XING acquired Honeypot, an innovative IT job platform based in Berlin. Honeypot turns the conventional job board principle on its head as companies apply to potential employees, not the other way around. Thomas Vollmoeller said: “Honeypot is an excellent New Work player, so this acquisition represents an additional milestone in the journey towards our vision – for a better working life – by serving products that help people find the right job to suit their needs and preferences.”

About XING

The leading online business network in German-speaking countries accompanies its members through the sweeping changes taking place in the world of work. Against the backdrop of skills shortages, digitalisation and a shift in values, XING supports 16 million members in reconciling work and private life as seamlessly as possible. Members can use XING Jobs to look for vacancies to suit their individual needs, stay up to date with news on XING, join discussions, and find out about the changes and trends in the new world of work on nwx.xing.com. 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 over 130,000 professional events each year. XING has offices in Hamburg, Munich, Berlin, Barcelona, Valencia, Porto, Vienna, and Zurich. Visit www.xing.com for further Details.