Xing: Profit almost doubled in the first half of 2011
The professional social network Xing continued its growth trajectory in the first half of 2011. Revenue from services rose by 25 percent to 31.6 million euros in the first six months of this year.
According to Wednesday's announcement, operating profit (Ebitda) increased by 60 percent to 11.3 million euros, while the Ebitda margin rose by 8 percentage points to 35 percent. Profits nearly doubled in the first half of 2011: Xing generated a plus of 95 percent with around 5.1 million euros.
The E-Recruiting segment continued to show strong growth in the first half of 2011, recording an increase of 85 percent to EUR 5.5 million. Half-year revenues in the Advertising segment rose by 53 percent to 2.5 million euros. Revenues from the Events segment, in which Xing invested with the purchase of Amiando at the end of last year, exceeded the million euro mark in the first half of 2011 at 1.1 million euros. Revenues from all new revenue sources together almost doubled to 9.1 million euros, an increase of 96 percent. As a result, the share of total sales accounted for by the vertical business units rose to around 30 percent.
Xing gained 640,000 new members worldwide in the reporting period, including 412,000 in Germany, Austria and Switzerland. The network thus gained 25 percent more members than in the prior-year period.
