‘We delivered,’ says Xing CEO Vollmoeller
26 Feb 2017
When Thomas Vollmoeller, CEO of German business network platform Xing, informed his staff in mid-November from a coffee shop somewhere in Australia, that he had taken a short sabbatical and will be back in January, the media was abuzz (our report).
But, the indignation was misplaced: by November Vollmoeller knew that financial year 2016 will end in a record year for Xing. The battle had been fought – and won.
On Friday last week he reported (full report in German) from Hamburg the following numbers for Xing in FY2016:
+ Total revenue climbed 21 percent to €149 million in FY2016 from €123 million in FY2015;
+ EBITDA climbed 31 percent to €48 million from €37 million;
+ Net profit stood 34 percent higher at €24 million in FY2016 from €18 million in FY2015;
+ All the divisions contributed to this growth – premium memberships grew 14 percent to €77 million from €68 million; e-recruiting grew its revenue 33 percent to €54 million from €41 million; advertising/ticketing/event promotion grew 13 percent to €13.5 million from €12 million.
+ In FY2016 Xing got 48,000 new premium members;
+ By end-December total registered users stood at 11.4 million; this number has since grown to just below 12 million.
Last Friday, Vollmoeller said, “In 2012 we said we aim to double revenue by 2016, and we did it. We delivered”.
“In addition, we also doubled EBITDA and the number of registered users in the period,” he added.
Clearly, the sabbatical had been earned.
The controlling stake (50.26 percent) in Xing is held by Burda Digital, a subsidiary of Hubert Burda Media.