Business network xing makes strong gains

Business network xing makes strong gains

Sales increased by eleven percent to 73.3 million euros, as the company announced in hamburg on thursday. In terms of members, the linkedin competitor recorded the strongest increase in three years in germany, austria and switzerland – their number rose by 816.000 to 6.1 million.

Earnings before interest, taxes, depreciation and amortization (EBITDA) fell by ten percent to around 20 million euros. But the bottom line in 2012 was a plus of 7.7 million euros after a loss of 4.6 million euros in 2011. At that time, a write-off had ruined the result.

The business network wants to further expand its payment products, xing boss thomas vollmoeller told dpa on thursday. One focus, he said, was on offers to companies for an extended search for suitable applicants. In addition, the 800,000 paying users are to receive additional offers, for example for hotels, starting in the fall.

Xing considers itself well positioned against its californian competitor linkedin. "We are growing more strongly in germany than our american competitor and are twice as big here as they are," said vollkoeller. "There is no reason whatsoever to fear the competition." By 2016, xing wants to double its sales, he said.

Burda announced in october that it wanted to take over xing, offering 44 euros per share. The publishing house already held just under 39 percent at the time of the offer and recently increased its share to 59 percent. Xing had rejected burda’s offer because the price was too low. In the meantime, the offer has expired, so that for the time being, the conditions of participation remain the same. The share stood at 42.50 euros on thursday afternoon.

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