Preliminary results for Q1/2008 – XING AG reports 58 thousand new Premium Members
08-05-05

XING AG / Preliminary Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
----------------------------------------------------------------------

Hamburg, May 5, 2008 – XING AG (ISIN: DE000XNG888), operator of XING, the
leading network for business contacts in Europe – has released its
preliminary figures for Q1/2008. According to preliminary and unaudited
results, XING AG was able to increase its total revenues, incl. other
operating income, by 91 percent to 7.51 million euros (Q1/2007: 3.93
million euros), thus achieving the highest quarterly revenue in the history
of the Company. An EBITDA of 2.64 million euros and a margin of 35 percent
was achieved in Q1/2008, an increase of nearly 500 percent over Q1/2007
results (0.53 million euros). Once again, the highly scalable nature of
XING AG's business model permitted the Company to achieve profitable growth
in the new financial year. The Subscription business segment was the most
profitable, bringing revenues of 5.91 million euros in Q1/2008 (Q1/2007:
3.74 million euros). This vigorous boost in revenues can largely be
attributed to an increase in paying Premium Members. Paying members
increased by 58 thousand over the previous quarter. In the history of the
Company, there has been no comparable increase in Premium Members. Within
12 months (as of March 2008), the number of Premium Members has increased
by 60 percent, to 420 thousand. In the same period, the total member base
increased by app. 170 percent, to 5.71 million members, the result of
organic growth and the acquisition of competitor networks.

In the first quarter of 2008, the new business models introduced in Q4/2007
already make up 20 percent of total revenues. In Advertising, a total of
0.52 million euros were earned. In the eCommerce segment, XING AG increased
its earnings over the previous quarter by roughly 160 percent to 0.96
million euros after introducing a performance-oriented billing system in
October 2007. The key revenue driver in eCommerce is the XING Marketplace
for job listings, already garnering approximately 2.30 million clicks. The
number of clicks to job postings on XING has more than doubled within a
single quarter.


Preliminary & unaudited KPIs according to IFRS

XING total
                                         Q1/2008            Q1/2007
 
Revenue in €m(1)                           7.51               3.93
EBITDA in €m                               2.64               0.53(2)
EBITDA Margin                              35%                13%(2)


Subscription 
                                         Q1/2008            Q1/2007

Revenue in €m                              5.91               3.74
Paying members in 000s                     420                258
Total members in m                         5.71               2.13
Net adds paying members in 000s            58                 37
Net adds total in 000s                     600                433


Advertising
                                         Q1/2008            Q1/2007

Revenue in €m                              0.52                -  
Page Impressions in m                      919                556


eCommerce
                                         Q1/2008            Q1/2007

Revenue in €m                              0.96                - 
No. Of Marketplace Clicks in m             2.30                -    

(1) Incl. other operating income
(2) Adjusted for extraordinary items resulting from the IPO

  

Important notice: 

Provisional financing figures and proforma figures subject to confirmation

The results and figures published in this notification are unaudited and
have been determined by the company on the basis of the provisional
quarterly financial statements and the previous financial statements for
the specified periods in order to enable a better comparison to be made,
and also to present exceptional factors; some of the figures have been
calculated on a pro-forma basis. The provisional financial figures may be
the subject of changes when the financial statements are audited. Although,
in the opinion of XING AG, the proforma figures reflect the direction of
development of ordinary business and the current status of the company,
there is no guarantee that the proforma figures precisely reflect this
development direction and this status.

Contact:
Patrick Möller
Director Investor Relations
Gaensemarkt 43
20354 Hamburg
Tel. +49 40 419131-793
Fax +49 40 419131-11
investor-relations@xing.com




05.05.2008  Financial News transmitted by DGAP
----------------------------------------------------------------------
 
Language:     English
Issuer:       XING AG
              Gänsemarkt 43
              20354 Hamburg
              Deutschland
Phone:        +49 (0)40 419 131-10
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 Berlin, Düsseldorf, München, Stuttgart
 
End of News                                     DGAP News-Service
 
---------------------------------------------------------------------------

previous
©2014 DGAP   Terms of use