Dr. Stefan Gross-Selbeck on 01.03.2012 at 19:33h CET
Yesterday evening we published our provisional figures for the 2011 financial year (press release), and I’m really happy to announce that it was an excellent year with revenue growth across the board, e-Recruiting hitting the ten million euro mark, and new records for both revenues and operative results.
The Company’s overall revenues for the 2011 financial year increased by 22 percent to €66.2 million. We also achieved record operating results (EBITDA) of €22.2 million, which is 33 percent higher than 2010 and equates to an operating margin of 34 percent.
These excellent results can be attributed to every part of the platform. Revenues in e-Recruiting grew by 65 percent to €11.7 million while Advertising turned over €7.1 million, an increase of 35 percent. Our Events segment, whose revenues are generated by our subsidiary amiando, appears in the financial statements for the first time in the Company’s history and achieved revenues of €2.5 million. Our core business also made good progress with Premium membership revenues rising by seven percent to €45.6 million (2010: €42.4 million). We also want our shareholders to benefit from these excellent results, which is why we’ll be suggesting a shareholder dividend of around €0.56 per share at the next AGM.
These excellent results aren’t just down to our great team, they’re also attributable to a highly active community that uses and generates the added value of a professional network. I’m very happy that we managed to acquire 800 thousand new members in German-speaking countries (D-A-CH), which was also an increase over last year’s signup rate. As of December 2011, XING had a total of 11.7 million members.
And we’re not done yet. We want to carry on growing and double our member base in D-A-CH over the next few years. In other countries, ten to fifteen percent of the local population is a member of a professional network. In Germany this figure is somewhat lower, meaning that there’s plenty of scope for us in the future. As a result, we intend to hire another 100 employees, taking the total to over 500 so we can drive our growth at full speed.
As part of our focus on German-speaking countries, the company’s management conducted its annual impairment test which led to an adjustment of values resulting from corporate transactions between 2006 and 2008 that amount to €14.4 million. This value adjustment does not affect non-cash items, but impacts on the Company’s consolidated income statement under IFRS (International Financial Reporting Standards). As a result, the Company reported consolidated earnings of €-4.6 million (2010: €7.2 million). Following the value adjustment, the Company reported consolidated earnings of €9.4 million, which represents an increase of 31 percent.