Corporate | 1 March 2011 08:35
XING AG / Key word(s): Preliminary Results
01.03.2011 / 08:35
- EBITDA: EUR16.7 million
- 20% increase in revenues
- 20% more members
- Net result: EUR7.2 million
Hamburg, March 1, 2011 - Today XING AG presented its preliminary financial
results for 2010. The Company recorded an EBITDA of EUR16.7 million for the
2010 financial year, which equates to a 41% increase over the EBITDA for
the 2009 financial year (EUR11.8 million). Total revenues rose by 20% to
EUR54.3 million compared to EUR45.1 million in 2009. The 2010 EBITDA margin
of 31% was well above the level for 2009 (26%), while the net result
amounted to EUR7.2 million (EUR-1.7 million). This makes 2010 the best
financial year in the company's history.
Stefan Gross-Selbeck, CEO at XING AG, said: 'We've seen excellent growth
across the board with revenues from recruiting and advertising developing
extremely positively.' To quantify this, e-recruiting revenues rose by 61%
to EUR7.1 million (EUR4.4 million) while advertising revenues increased by
64% to EUR3.9 million (EUR2.4 million).
Stefan Gross-Selbeck anticipates additional growth going forward:
'Recruiters in Germany are increasingly recognizing the potential social
media has in terms of e-recruiting. We expect to see additional strong
growth in the future due to our market leadership in this area. Our
advertising business is also developing very well and we anticipate strong
growth going forward. Our acquisition of amiando allows us to tap into the
highly lucrative event management market as an additional source of
revenue, meaning that we're well prepared for the current financial year.'
During the 2010 reporting period, XING managed to vastly increase its
member numbers by 20% compared to the previous year. Growth in
German-speaking countries has accelerated with the Company reporting
205,000 new members in those countries in Q4 2010 compared to 158,000 in Q4
2009 - an increase of 30%. As of December 31, 2010, XING had 10.5 million
members worldwide, 4.5 million of which were from German-speaking
countries. On the same date, the platform had 745,000 paying Premium
Members, an increase of 8% over the previous year.
The final annual financial statements will be published in our annual
report on March 31, 2011.
About XING
XING is the social network for business professionals. More than 10 million
members worldwide use XING to boost their business, job, and career. XING
is a platform where professionals from all kinds of different industries
can meet up, find jobs, colleagues, new assignments, cooperation partners,
experts and generate business ideas. Members can meet and exchange views in
over 45,000 specialist groups, while also getting together at networking
events. The platform is operated by XING AG, which was founded in Hamburg,
Germany, in 2003 and has been publicly listed since 2006. In December 2010,
XING acquired amiando AG, a Munich-based company and Europe's leading
provider of online event management and ticketing. Please visit
www.xing.com for more information.
End of Corporate News
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Language: English
Company: XING AG
Gänsemarkt 43
20354 Hamburg
Deutschland
Phone: +49 (0)40 419 131-793
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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