XING AG, operator of the leading online business network in German-speaking countries, has increased its revenues for the first six months of this year by 26 per cent, taking total revenues to 59.5 million euro for the period (H1 2014: 47.1 million euro). All business segments contributed towards this growth. The positive figures presented by the company caused XING shares to climb to 181 euro. On Tuesday, the company founded by Lars Hinrichs thus became Germany’s next “Unicorn” on Tuesday. Today, XING AG operates under the roof of Burda’s holding. Excellent figures were also presented this week by Jungheinrich AG.
Jungheinrich Acquires MIAS Group
The Hamburg-based Jungheinrich Group expanded significantly in the second quarter of 2015. Consolidated net sales advanced by 13 per cent (H1 2015: up 10 per cent) while the value of incoming orders increased by 9 per cent (H1 2015: up 10 per cent). Earnings before interest and taxes (EBIT) and net income were both 21 per cent higher in the second quarter than in last year’s corresponding period. In the first six months of 2015, EBIT and net income rose by 14 and 15 per cent, respectively. In view of the positive development, the Board of Management raised its forecast for the current fiscal year in terms of incoming orders, net sales, EBIT and EBT.
Jungheinrich also continues to enlarge the footprint it has as a logistics systems provider. To this end, Jungheinrich AG signed an agreement regarding the acquisition of the MIAS Group with its owners. The parties agreed not to disclose the acquisition price. Subject to the customary conditions precedent, the transaction is scheduled to be consummated in the fourth quarter of 2015.