Xing continues to grow
Xing continued to grow across all business segments in the first quarter of 2013. Overall, the professional network generated total revenue of 19.6 million euros in German-speaking countries during the first quarter of 2013.
This is eleven percent more than in the same period last year (EUR 17.7 million). The operating result EBITDA grew by eleven percent to 5.3 million euros (4.8 million euros). At 2.0 million euros, the net result was at the previous year's level, according to a press release.
Revenue from the "Premium Club" division, which mainly comprises business with premium customers and display advertising, is Xing's largest source of revenue. The Premium Club contributed 12.9 million euros to total revenue, which is four percent more than in the previous year (12.4 million euros). The "e-Recruiting" division (including company profiles) recorded the highest growth of all divisions: It grew by 32 percent compared to the previous year and generated 5.3 million euros (4.0 million euros). The "Events" business segment recorded an increase to 1.1 million euros (1.0 million euros).
Thomas Vollmoeller, CEO of Xing: "Xing continued its solid growth in the first quarter of this year. We were able to increase revenue in all business areas. In particular, our solutions for companies suffering from the skills shortage continue to see increasing demand. With our Talent Manager, they have access to the largest talent network in the German-speaking world." To date, Xing has sold more than 1,500 licenses of the product to HR departments and recruitment consultants. In the first quarter, the product, which was launched in September last year, once again exceeded its own expectations.
Growth in membership figures too: In the first quarter, Xing welcomed around 205,000 new members in German-speaking countries. Xing now has more than 6.3 million members there and almost 13.2 million worldwide. The number of Premium members paying subscriptions grew by around 3,000 to 786,000 in German-speaking countries in the first quarter (worldwide: 810,000 at the end of March 2013).
Xing was also on course for growth in terms of usage in the first quarter. The network exceeded a new record of unique users in the reporting period and broke the five million mark for the first time in January (source: AGOF). In order to further accommodate the increase in mobile Xing usage, which now accounts for around a third of total traffic, an iPad app has also been available to users since the end of March. This has already been downloaded around 70,000 times since then.
