openPR Logo
Press release

XING AG Increases Revenue by 28 Percent

03-30-2010 11:38 AM CET | IT, New Media & Software

Press release from: XING AG

Course set for further growth

* 25 percent membership increase to 8.75 million worldwide
* 29 percent more members on the domestic German-speaking market
* 25 percent rise in number of paying Premium customers
* Revenue growth of 11 percent in the new "Jobs" section bucks negative market trend

Hamburg, March 30, 2010 - XING AG increased its revenues by 28 percent from €35.3 million in 2008 to €45.1 million in FY 2009. The key growth driver here was an increase in paying Premium customers by 25 percent to 687,000 (550,000 in 2008). Overall, in 2009 XING AG had 8.75 million members worldwide in 2009 (7.00 million in 2008), which equates to an increase of 25 percent on the previous year. In German-speaking countries, member growth accounted for 29 percent of total membership (3.74 million compared to 2.89 million in 2008). On its core international markets, XING AG continued to accelerate membership growth levels. In Turkey, for example, the company acquired 265,000 new members. This corresponds to an increase of 58%, taking the total number to 724,000. In Spain, XING AG succeeded in gaining 239,000 new members - an increase of 25 percent that pushed the total membership number up to 1.19 million.

On top of this, XING also invested heavily in new business areas during FY 2009. These investments also paid off with the e-recruitment segment (job ad posting on achieving revenue increases of 11 percent, while the market as a whole posted a decline of about 30 percent. After adjustment for one-time revenues in 2008 in the amount of €1.39 million, Advertising returned a 46 percent increase from €1.62 million in 2008 to €2.37 million in 2009.

XING CEO Dr. Stefan Gross-Selbeck commented that "XING AG’s business has developed very strongly again over the last year. In the past we mainly focused on the end-customer business, but now we have expanded operations in the B2B sector which in turn represent a number of completely different challenges for us. We are sure that the investments we have made in these areas will prove to be vital sources of income for XING in the future." This will only really come to the fore once the economy-based job market picks up again.

The company's EBITDA in 2009 was €11.8 million, which was similar to last year's figure of €12.2 million,and equates to an EBITDA margin of 26 percent. In FY 2009, XING AG made considerable investments in recruiting qualified staff, in particular for the new business areas, which led to increased personnel costs amounting to €15.7 million (€8.8 million in 2008). The negative net result of -€1.7 million is largely attributable to one-time impairment losses in the amount of €5.4 million. These losses were due in particular to write-downs for equity participations and acquisitions made by the Executive Board based on the current market environment and XING AG’s strategic alignment in Q4. Following adjustment for one-time effects, the Company produced an overall net result of €3.9 million. CEO Dr. Stefan Gross-Selbeck added that "In 2009, XING set a course for further growth."

About XING
XING is the leading European online business network. Over 8 million members use XING in 16 languages to do business, find jobs, and pursue a career. XING helps members get connected and stay in touch with their contacts with customized networking solutions and services. Members are active on XING because of the real value generated, with XING Jobs, over 34,000 specialized groups, and over 150,000 live networking events a year, organized by members for members. Since the 2006 IPO, the XING AG share has established a solid position for itself on the stock market, the first and to date only Web 2.0 company to do so. XING AG is headquartered in Hamburg, Germany, and has local offices based in its key strategic growth markets.
XING. Powering Relationships.

Marc-Sven Kopka

Vice President Corporate Communications
Gaensemarkt 43
20354 Hamburg

+49 40-419131-763

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release XING AG Increases Revenue by 28 Percent here

News-ID: 125358 • Views: 1638

More Releases from XING AG

XING continues growth course
* 70% increase in EBITDA in Q1 * Two thirds of growth generated by new sources of revenue * Strongest member growth in German-speaking countries since Q1 2009 Hamburg, May 10, 2011 – In the first quarter of 2011, XING AG successfully continued the growth course set during the 2010 financial year. The market leader in German-speaking countries reported an EBITDA of €5.6 million during Q1 2011, which represents an increase of 70%
XING: Boards suggest special distribution of funds from capital reserves amounti …
Hamburg, March 30, 2011 - The Management and Supervisory Boards of XING AG, Hamburg (ISIN DE000XNG8888), have decided today to suggest paying a special distribution of funds from capital reserves amounting to €20 million to the company’s shareholders at the next AGM on May 26, 2011. The payout per share will amount to approx. €3.70. Stefan Gross-Selbeck, CEO at XING AG, said: “This special distribution of funds highlights XING’s financial
XING AG increases EBITDA by 52 percent in Q3/2010
XING AG increases EBITDA by 52 percent in Q3/2010 * EBITDA of €4.46 million - The highest operating result in the company’s history * Revenues from services up by 20 percent * 194 thousand new members in German-speaking countries Hamburg, November 9, 2010 - In Q3/2010, XING AG reported an EBITDA of €4.46 million, the company’s highest ever operating result. This in turn equates to a 52 percent increase over Q3/2009 (€2.92
XING makes successful start to financial year 2010
17 percent increase in revenue to €12.60 million - €1.3 million profit - EBITDA of €3.3 million - 23 percent increase in member numbers compared to previous year - 420,000 new members in Q1 Hamburg, May 12, 2010 - XING AG has made a successful start to the 2010 financial year with Q1 revenues of €12.60 million, which represents a 17 percent increase over figures for the same period last year (€10.75 million). This positive development

All 5 Releases

More Releases for Hamburg

Gebäudereinigung Hamburg - About us
Gebäudereinigung Hamburg – No more dirt! We at Ruiz are your reliable cleaning company and take care of every type of building cleaning. No matter if it’s about office cleaning, maintenance cleaning or glass cleaning – we provide the right personnel, equipment and know-how. We will be happy to make you an appropriate offer. Just give us a call or we send you a non-binding quote online. That’s what we’re offering you: Building
BLOCKCHANCE Conference Hamburg 2018
BLOCKCHANCE Conference, August 24th-25th 2018 in the HafenCity of Hamburg with subtitle, ‘Bitcoin was just the beginning - blockchain is the future of economics’, shows the socio-economic impact of the coming blockchain revolution. Plus free Skycoin Miner Hardware and VEGANcoins giveaway Hamburg, July 4th 2018 - The BLOCKCHANCE Conference Hamburg 2018 ‘The future of economics’ opens its doors for two days at August 24th and 25th. It creates a platform
LEGO Education Innovation Studio opens in Hamburg
Secretary of Education for Hamburg attends the launch of the LEGO® Education Innovation Studio at the Richard-Linde-Weg Academy Students at the Richard-Linde-Weg Academy along with the Secretary of Education for Hamburg Ties Rabe, and LEGO® Education celebrated the opening of their new LEGO Education Innovation Studio last week. The Studio provides an innovative and creative space for the students to study and learn. It incorporates storage, durable, multifunctional furniture and at the
Indo-Hamburg Relations: On A Promising Path?
GIRT Hamburg invites Consul General Subashini to share views on India’s ties with Hamburg, on May 2, 2011 Hamburg (19.04.2011): India’s emergence as an increasingly open and growing economy has led to a more active interaction with Germany. The liberalization of India’s economy and the ensuing growth in the bilateral trade has opened new avenues for cooperation not only in the business sector but also in other social and cultural spheres.
From 2nd – 4th September 2011 the Haus der Photographie, Deichtorhallen Hamburg, Germany celebrates the premiere of the PHOTO+ART BOOK HAMBURG. This new fair focuses on the printed publication as an autonomous form of artistic expression. It accommodates not just a variety of exciting stalls but also offers exhibitions, workshops, lectures and booksignings. The PHOTO+ART BOOK HAMBURG addresses professionals, artists, creative individuals, printers, interested amateurs as well as book and
“Gamecity” Hamburg Appearance at Gamescom 2009
Hanseatic city features seven companies at shared Hamburg stand Hamburg, 11 August 2009: Hamburg’s games companies are back in force this year at Europe’s leading digital gaming industry show. Following the move of the event from Leipzig to the Rhineland, the initiative gamecity:Hamburg will host a joint appearance at gamescom 2009 in Cologne from August 19 to 22. Co-participants at the shared stand are Hamburg-based gamigo AG, FISHLABS Entertainment GmbH, INTENIUM