05/05/2008 | XING
Preliminary results for Q1/2008 – XING AG reports 58 thousand new Premium Members
- Record quarter: Total revenues increased by 91 percent to 7.51 million euros
- EBITDA increases by 500% over Q1/2007
- Number of Premium Members increases by 60 percent within one year to 420 K
Hamburg, May 5, 2008 – XING AG (ISIN: DE000XNG888), operator of XING, the leading network for business contacts in Europe – has released its preliminary figures for Q1/2008. According to preliminary and unaudited results, XING AG was able to increase its total revenues, incl. other operating income, by 91 percent to 7.51 million euros (Q1/2007: 3.93 million euros), thus achieving the highest quarterly revenue in the history of the Company. An EBITDA of 2.64 million euros and a margin of 35 percent was achieved in Q1/2008, an increase of nearly 500 percent over Q1/2007 results (0.53 million euros). Once again, the highly scalable nature of XING AG's business model permitted the Company to achieve profitable growth in the new financial year. The Subscription business segment was the most profitable, bringing revenues of 5.91 million euros in Q1/2008 (Q1/2007: 3.74 million euros). This vigorous boost in revenues can largely be attributed to an increase in paying Premium Members. Paying members increased by 58 thousand over the previous quarter. In the history of the Company, there has been no comparable increase in Premium Members. Within 12 months (as of March 2008), the number of Premium Members has increased by 60 percent, to 420 thousand. In the same period, the total member base increased by app. 170 percent, to 5.71 million members, the result of organic growth and the acquisition of competitor networks.
In the first quarter of 2008, the new business models introduced in Q4/2007 already make up 20 percent of total revenues. In Advertising, a total of 0.52 million euros were earned. In the eCommerce segment, XING AG increased its earnings over the previous quarter by roughly 160 percent to 0.96 million euros after introducing a performance-oriented billing system in October 2007. The key revenue driver in eCommerce is the XING Marketplace for job listings, already garnering approximately 2.30 million clicks. The number of clicks to job postings on XING has more than doubled within a single quarter.
Preliminary & unaudited KPIs according to IFRS
| XING total | ||
| Q1/ 2008 | Q1/2007 | |
| Revenue in €m1 | 7.51 | 3.93 |
| EBITDA in €m | 2.64 | 0.532 |
| EBITDA Margin | 35% | 13%2 |
| Subscription | ||
| Q1/ 2008 | Q1/2007 | |
| Revenue in €m | 5.91 | 3.74 |
| Paying members in 000s | 420 | 258 |
| Total members in m | 5.71 | 2.13 |
| Net adds paying members in 000s | 58 | 37 |
| Net adds total in 000s | 600 | 433 |
| Advertising | ||
| Q1/ 2008 | Q1/2007 | |
| Revenue in €m | 0.52 | - |
| Page Impressions in m | 919 | 556 |
| eCommerce | ||
| Q1/ 2008 | Q1/2007 | |
| Revenue in €m | 0.96 | - |
| No. of Marketplace Clicks in m | 2.30 | - |
1Incl. other operating income 2Adjusted for extraordinary items resulting from the IPO Important notice:
Provisional financing figures and proforma figures subject to confirmation
The results and figures published in this notification are unaudited and have been determined by the company on the basis of the provisional quarterly financial statements and the previous financial statements for the specified periods in order to enable a better comparison to be made, and also to present exceptional factors; some of the figures have been calculated on a pro-forma basis. The provisional financial figures may be the subject of changes when the financial statements are audited. Although, in the opinion of XING AG, the proforma figures reflect the direction of development of ordinary business and the current status of the company, there is no guarantee that the proforma figures precisely reflect this development direction and this status.
