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 million). Revenues from services rose by 20 percent to €13.61 million (Q3/2009: €11.37 million), with other operating income taking total revenues to €13.77 million. A large part of this rise can be attributed to accelerating growth levels in the “e-Recruiting” business unit which grew by 82 percent with revenues of €1.90 million (Q3/2009: €1.04 million). The “Advertising” business unit reported growth of 46 percent to €0.89 million (Q3/2009: €0.61 million) with paying Premium Member revenues also rising 11 percent to €10.79 million (€9.69 million).
“XING is continuing its growth course” said Stefan Gross-Selbeck, CEO at XING AG, about the published figures. “The investments we made in new revenue sources over the last 12 months are now paying off. In the third quarter alone, more than 340 new business customers acquired recruiting products from us in order to fill vacant positions. On top of that, in German-speaking countries we achieved the highest member growth level seen in the last five quarters.” At the end of the third quarter of 2010, XING had 10.11 million members registered on its platform, 4.27 million of whom are based in German-speaking countries. This equates to an increase of 194 thousand over the same period last year.
In Turkey and Spain, XING reached the critical mass of around 1 million members with Spain notching up 1.54 million users and Turkey just approaching the 1 million mark as of the end of September. From now on, XING’s international focus will be on increasing activity levels.
The EBITDA margin rose from 25.1 percent (Q3/2009) to 32.4 percent (Q3/2010), with the net result rising from €0.34 million in Q3/2009 to €2.11 million in Q3/2010.
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 over 40,000 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.
Vice President Corporate Communications
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