Ad-hoc | 22 July 2008 09:07
XING AG / Preliminary Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Hamburg, July 22, 2008 – XING AG (ISIN: DE000XNG888), operator of XING –
the leading network for business contacts in Europe – has almost doubled
its overall revenues over the first six months of 2007 to 15.91 million
euros, according to preliminary and unaudited results for the first
half-year of 2008. The quarterly revenue achieved in Q2 totalled 8.41
million euros, compared to 4.29 million euros in Q2 of the previous year.
An EBITDA of 5.76 million euros and a margin of 37 percent represent an
almost tripling of results over the first six months of 2007. This takes
into account that the company incurred expenses amounting to 768 thousand
euros during Q2 arising from discontinued M&A activities. These costs have
been adjusted, as they are non-recurring. Having amounted to 7.86 million
euros in the first six months of 2007, the Subscriptions segment of XING AG
generated a total of 12.64 million euros in the current reporting period.
This strong growth can be predominantly attributed to an increase in the
number of Premium Members. The number of Premium Members rose by 50
thousand in Q2 2008 alone. In the first six months of 2008 altogether, XING
AG gained 108 thousand new Premium Members. As of June 30, 2008, there were
approximately 470 thousand paying Premium Members in total. The overall
membership base also increased by 1.31 million as a result of organic
growth and the acquisition of competitor networks (cember.net in Q1/2008)
to a total of 6.14 million members worldwide. The new business models
introduced in Q4 2007 have also established themselves successfully during
the course of the first six months.
The new business models Advertising und eCommerce already constitute 20
percent of the Company’s overall revenues. Revenues from Advertising
amounted to 1.13 million euros for the reporting period. Revenues of 610
thousand euros were generated in Q2 2008 alone. The eCommerce business
model resulted in revenues totalling 1.96 million euros in the first
half-year of 2008 for XING AG, after the Company introduced a
performance-oriented billing system in October 2007. XING Marketplace
constitutes the main source of revenue in the eCommerce segment with
approximately 2.46 million clicks for job listings.
Preliminary & unaudited KPIs according to IFRS
XING total
HY 2008 HY 2007 Q2’2008 Q1’2008 Q2’2007
Revenue
in €m* 15.91 8.21 8.41 7.51 4.29
EBITDA in €m 5.76*** 1.43** 3.13*** 2.64** 0.90
EBITDA Margin 36%*** 17%** 37%*** 35%** 21%
Subscription
Revenue in €m 12.64 7.86 6.73 5.91 4.12
Paying members
in 000s 470 285 470 420 285
Total members
in m 6.14 3.52 6.14 5.71 3.52
Net adds paying
members in 000s 108 64 50 58 27
Net adds
total in m 1.31 1.83 0.44 0.88 1.40
Advertising
Revenue in €m 1.13 - 0.61 0.52 -
Page Impressions
in m 1,832 1,004 913 919 544
eCommerce
Revenue in €m 1.98 - 1.02 0.96 -
No. of
Marketplace
Clicks in m 4.76 - 2.46 2.30 -
* Incl. other operating income
** Adjusted for extraordinary items resulting from the IPO
*** Adjusted for non recurring expenses resulting from discontinued M&A
processes (€768k)
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 annual
financial statements and the previous annual 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 annual 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.
Contact:
Patrick Möller
Director Investor Relations
Gaensemarkt 43
20354 Hamburg
Germany
Phone: +49 40 419131-793
Fax: +49 40 419131-11
investor-relations@xing.com
22.07.2008 Financial News transmitted by DGAP
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Language: English
Issuer: XING AG
Gänsemarkt 43
20354 Hamburg
Deutschland
Phone: +49 (0)40 419 131-10
Fax: +49 (0)40 419 131-11
E-mail: investor-relations@xing.com
Internet: www.xing.com
ISIN: DE000XNG8888
WKN: XNG888
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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