NEW WORK SE grows turnover, EBITDA and result in first nine months

B2B E-Recruiting segment reports 7 per cent growth

XING reports 20 million members in D-A-CH

New multichannel campaign ‘Do your XING’ on air

Hamburg, 4 November 2021 – NEW WORK SE, parent company of, for instance, XING, the leading online business network in German-speaking countries, and kununu, a leading employer review platform in Europe, today published its figures for the first nine months of 2021. Pro forma revenues came in at €212.6 million, up 4 per cent over the first nine months of 2020 (€205.0 million). Pro forma EBITDA for the period grew by 19 per cent to € 78.6 million (9m 2020: €65.8 million), while pro forma net profit rose by around 5 per cent to €32.1 million (9m 2020: €30.7 million).

B2B E-Recruiting segment reports 7 per cent growth

Revenues for the B2C segment were down 4 per cent from €77.0 million in 9m 2020 to €74.1 million in 9m 2021. This is attributable to a dip in revenues at subsidiary InterNations amid ongoing reluctance to organise and attend offline events, along with a slight decline in demand for the XING Premium product in view of the recovering labour market. By contrast, the lack of skilled workers is driving demand within NEW WORK SE’s B2B segment which specialises in recruiting solutions. In the first nine months of 2021, the B2B E-Recruiting segment saw revenues climb 7 per cent yoy to €122.6 million (9m 2020: €114.9 million). Taking the third quarter on its own, the company even saw an increase of 14 per cent yoy as a result of the recovering labour market. In the B2B Marketing Solutions & Events segment, revenues rose by 22 per cent from €13.1 million in 9m 2020 to €16.0 million in 9m 2021, largely due to sustained positive advertising revenue growth.

Petra von Strombeck, CEO at NEW WORK SE, said: “Following on from two stable quarters, the third quarter of 2021 proved to be particularly positive for our company. We’re now starting to feel the positive effects as the labour market recovers. We stand to benefit from this by supporting companies in their quest for the talent they need to be successful. We also want to help people achieve a more satisfying working life because many people spend more time at work than they do with their friends and family. The accelerating growth rates we’ve seen since the start of the year underline the fact that our offerings are relevant to our members.”

XING reports 20 million members in D-A-CH

With a view to non-financial KPIs, the two main B2C brands – XING and kununu – continue to report significant growth. XING, the leading online business network in German-speaking countries, added 1.4 million new members since Q3 2020, taking total membership to 19.9 million in D-A-CH as of the end of Q3 2021. In October 2021, XING passed the 20-million-member mark in D-A-CH. Meanwhile, employer review platform kununu saw a major upswing in the number of reviews, culture and salary data it hosts. At the end of the third quarter, kununu was home to 5.8 million workplace insights, including more than 1.4 million salary data entries. This equates to 36 per cent growth yoy, and an increase of 1.5 million since the end of Q3 2020.

The third quarter also saw the release of a captivating new multi-channel XING campaign. Based on the slogan ‘Do your XING’, the campaign encourages people to stop bending over backwards for their job, while explaining that XING is on hand to assist. Several different spots were produced, each revolving around the same core theme and broadcast on TV, radio and online.

About NEW WORK SE

The NEW WORK SE Group builds upon the XING SE success story by offering brands, products and services that foster a more fulfilling world of work. Founded by Lars Hinrichs as the OpenBC professional network, the company was renamed XING in 2006. In 2019, the company was renamed again to New Work SE as a reflection of its commitment to a better working world and to bring all of its business activities under the umbrella of New Work. The company has been listed on the stock exchange since 2006. NEW WORK SE is a central leadership and management holding, serving as a service department for its subsidiaries. The Group is headquartered in Hamburg and currently employs 1,900 people at offices including Munich, Vienna and Porto. Visit https://new-work.se and https://nwx.new-work.se/ for more information.