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XING makes successful start to financial year 2010

05-12-2010 11:34 AM CET | IT, New Media & Software

Press release from: XING AG

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 was largely attributable to the 708,000 Premium Members registered on the platform, a 17 percent increase on the same period last year (606,000 as of March 31, 2009). Overall, the number of members worldwide increased by 23 percent from 7.5 to 9.2 million over the last twelve months. During the first quarter of 2010, 420,000 people joined XING.

CEO Dr. Stefan Gross-Selbeck said that "XING AG succeeded in consolidating its position as market leader in the German-speaking countries. We now have more than 3.9 million members registered on our platform, and our new sources of revenue are developing positively." By way of example, the job ads business segment achieved revenues of €1.44 million (€1.20 million on March 31, 2009), an increase of 20 percent over last year. Advertising posted revenues of €774,000, which is about 34 percent higher than last year's figure (€578,000). Overall, the new sources of revenue amounted to almost 18 percent of the Company's total revenue.

XING AG also grew on an international level with 1.2 million members in Spain, equating to a 31 percent increase over the figures for Q1 2009. In addition, Turkey saw member growth of 61 percent (to 810,000 members). Membership levels on both markets have shown accelerating growth over the last four quarters.

During Q1 2010, XING AG posted net income of €1.3 million. Major investments made with the aim of driving new business segments and expanding the platform even further during the previous year led to increased personnel expenses of €4.7 million during the reporting period (€3.2 million in Q1 2009). As a result of this, the Company's EBITDA of €3.3 million was about the same as the figure for Q1 2009 (€3.4 million). This in turn means that XING AG succeeded in continually growing its EBITDA since Q2 2009. The Company achieved an EBITDA margin of 26 percent with freely available cash flow rising to €7.1 million. Cash and cash equivalents amounted to almost €50 million.

About XING
XING.com is the place to be for online business networking. Millions of members use the platform every day to do business and promote their career. XING makes networking and professional contact management simple. This can be seen by the exceptionally high levels of activity the platform enjoys. Members can meet and exchange views in about 38,000 specialist groups, while also getting together at networking events to share their contacts, skills and expertise. A XING network is defined by trust - It boosts members’ career prospects while acting as a recruiting portal for both companies looking to fill vacancies and qualified professionals interested in a new challenge.
The platform is operated by XING AG and is the only network in the world to offer full SSL encryption. XING AG is a listed company with headquarters in Hamburg and key strategic offices in Barcelona and Istanbul. Please visit www.xing.com for more information.

Marc-Sven Kopka

----------------------------

Vice President Corporate Communications
XING AG
Gaensemarkt 43
20354 Hamburg
Germany

+49 40-419131-763
press@xing.com
https://www.xing.com/profile/MarcSven_Kopka

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