Xing SE, the Hamburg-based company behind the leading German-speaking business network can look back on an “unchecked growth course” in 2018. The company increased its turnover by 25 per cent over 2017 and is expecting total revenues of EUR 235.1 million for the 2018 fiscal year (2017: EUR 188.5 million).
B2B e-recruiting division grows by 40 per cent
The field of e-recruiting in the B2B segment is the strongest growth driver and recruiting channels generated revenues of EUR 108.7 million (2017: EUR 77.4 million). This corresponds to growth of 40 per cent. Xing SE also anticipates an increase of 12 per cent to EUR 99.9 million (previous year: EUR 89.5 million) in the B2C division, which includes the revenues from payment services for end customers. The Xing career network recorded member growth of 1.9 million to a total of 15.3 million members in the reporting period.
Change of name to New Work SE
Thomas Vollmoeller, CEO of Xing SE, said: “We are growing unchecked, both Xing’s core business and that of our subsidiaries have developed very well. The tectonic changes in the world of work are becoming increasingly noticeable – our New Work offers are hitting a nerve.” In February, Xing SE announced a conversion of the company name into New Work SE, pending the approval of the Annual General Meeting in early June. Well-known products such as Xing or the employer evaluation portal Kununu are to retain their names. The name change indicates Xing’s emphasis on the world of work in future. Xing is organizing the annual New Work Experience (NWX) in the Elbphilharmonie, which is considered the largest German-language conference on New Work.
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