XING AG / Half Year Results
11.08.2010 08:38
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* Total revenues rise by 20 percent to EUR 25.86 million
* EBITDA of EUR 3.74 million in Q2 is highest quarterly operative result in
the company's history
* 9.63 million members worldwide with 4.07 million members in
German-speaking countries
Hamburg, August 11, 2010 - XING AG's figures at the end of the first half
of 2010 reflect and confirm the positive growth strategy it has developed
and implemented. Total revenues for the first six months of the year rose
by 20 percent from EUR 21.54 million in H1/2009 to EUR 25.86 million in
H1/2010. Revenues from XING's core business of paying Premium Members grew
by 18 percent to EUR 20.59 million. E-Recruiting income for the period rose
by 34 percent from EUR 2.23 million to EUR 2.99 million, while Advertising
revenues saw a 50 percent increase from EUR 1.10 million to EUR 1.65
million.
Stefan Gross-Selbeck, CEO at XING AG, said that 'We were able to present
excellent figures for the first half of 2010. From an operative
perspective, the second quarter was the most successful in the company's
history with our strategy of tapping into new sources of income already
bearing fruit. The increased growth we generated in our new income channels
- E-Recruiting and Advertising - played a major part in the positive
figures for the first half of 2010 along with our efforts to focus even
more on the customer and develop our core features to improve customer
benefit. Within the scope of this, we made improvements to our Premium
Membership product and, in particular, to our Basic Membership. This had a
direct impact on our membership figures with Q2 returning the highest
growth levels achieved in the last 15 months.'
To quantify this, 460,000 people signed up to XING as new members in Q2
with global membership for H1/2010 rising by 880,000 to 9.63 million.
In XING's domestic market, i.e. German-speaking countries, the platform had
4.07 million members (an increase of 20 percent), while growth in the
Company's core international markets - Turkey and Spain - accelerated even
further. Turkey enjoyed a 64 percent increase in member growth, taking
overall figures to 908,000, while Spain reported a 40 percent rise to 1.42
million as of the end of June. During the first half of 2010, 31,000 people
chose to upgrade to a Premium Membership, taking overall figures to 718,000
worldwide.
Earnings before interest, tax, depreciation and amortization (EBITDA) rose
20 percent, which was in line with revenues and equates to a total of
EUR 7.04 million, while XING's operative result of EUR 3.74 million for Q2
2010 was the highest ever in the company's history. The 27 percent EBITDA
margin for H1/2010 was the same as last year, although Q2 2010 actually
produced a five percent increase over Q2 2009, taking the margin up to 28
percent. Profits also improved during the first half of 2010, growing from
EUR 2.18 million in H1/2009 to EUR2.60 million in H1/2010. The free cash
flow for this period rose in turn to EUR11.07 million (compared to EUR
-7.04
million in 2009).
About XING
XING.com is the social network for business professionals. Millions of
members use the platform to do business and promote their career. XING
makes networking and professional contact management simple, with
made-to-measure networking functions and services. The XING community is
highly active with members meeting, exchanging views in more than 40,000
specialist groups, and getting together at networking events to share their
contacts, skills and expertise. The XING business network is based on 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. XING is the only network in the world to
offer full SSL encryption. The platform is operated by XING AG, a listed
company with headquarters in Hamburg and offices in Barcelona and Istanbul.
Please visit www.xing.com for more information.
Marc-Sven Kopka
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Vice President Corporate Communications
XING AG
+49 40-419131-763
presse@xing.com
https://www.xing.com/profile/MarcSven_Kopka
11.08.2010 08:38 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at <a href="http://www.dgap-medientreff.de">www.dgap-medientreff.de</a> and <a href="http://www.dgap.de">www.dgap.de</a>
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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 München, Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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