Investor Presentation • Nov 6, 2020
Investor Presentation
Open in ViewerOpens in native device viewer
Investor Presentation
over 1,900 employees, more than 800 of whom work in Hamburg
Additional offices in Barcelona, Porto, Valencia, Vienna (kununu), Zurich, Berlin and Munich (XING Events)
$1111111$ $1.113.11$
"We pioneer a working world where people can do what they love and love what they do"
Mission Statement of NEW WORK SE
Vision of NEW WORK SE
Solid business model
Strong brands & market position
Megatrends & markets growth potential
Great team & culture
NEW
WORK
We believe in a world of work where people can find their true self and achieve their full potential. This not only makes individuals more satisfied and happier, it also makes companies more successful.
95% consider it essential to reconcile work and family life
88% say that their job has to fit in with their lifestyle
$65\%$ say no to companies that don't offer flexible working hours
42% of Germans consider the purpose of their job more important than salary
Source: Forsa study conducted among 1,011 German experts and executives (employees and civil servants) on behalf of XING AG
in C-Side access (www.XING.com)
in employer branding (kununu)
in active recruiting (XTM)
in tech talent access in Europe (Honeypot)
in expat access / worldwide (InterNations)
'WE PIONEER A WORKING WORLD WHERE PEOPLE CAN DO WHAT THEY LOVE AND LOVE WHAT THEY DO."
Strong increase in open vacancies expected, resulting in greater demand for employees
COVID-19 is causing an economic dip and increasing unemployment rates
Impact of COVID-19 expected to be overcompensated by demographics
Work can be done ANYWHERE and at ANYTIME
TRANSPARENCY poses NEW CHALLENGES for businesses
Networks and GOOD CONNECTIONS are becoming WIDESPREAD
BALANCE OF POWER between employers and employees has changed
Job applicants can CHOOSE their prefered WORKING CONDITIONS
In 2018 73% of recruiters said that their TIME-TO-HIRE has INCREASED during the last 5 years
74% of the recruiters think that ACTIVE RECRUITING could help to decrease time-to-hire
*Source: Forsa study conducted among 200 German recruiters on behalf of NEW WORK SE in August 2018
FLEXIBILITY, LOYALTY, INDEPENDENCE and self-determination are being re-evaluated
LEADERSHIP has to be earned
Occupational SELF-FULFILMENT is considered MORE IMPORTANT than a CAREER
Number of days in Germany in 20181 on which vacancies subject to social insurance remained unfilled
■ 3-12m @ $€$ 7.95 - 9.95 p.m.
■ 3-12m @ $\in$ 5.95 - 8.95 p.m.
$\bullet$ € 4,740 - 13,140+ p.a.
$\bullet$ € 800 - 6,000+ p.a.
■ $€ 3,500$ per shortlist
• 15-18% of annual salary
"We pioneer a working world where people can do what they love and love what they do"
訓
图图11:
40 sessions & workshops
50 speaker
10,000 voting users
08.03.2019 / News, Führung, Arbeitsgestalt
Aus über 200 Bewerbungen wurden gestern die Gewinner des diesjährigen New Work Awards ausgezeichnet. Einzelpersonen, Teams und ganze Unternehmen konnten hier mit ihren Ideen und Initiativen für eine neue Art des Arbeitens überzeugen.
Diese Idee hat den New Work Award wirklich verdient
an Antarkatean, Abusture, Brook pro
EXPERIENCE
FRANKFURT RHEIN-MAIN * MEINUNG EINTRACHT POLITIK KULTUR MEHR."
2017 führte eine deutsche IT-Firma die 25-Stunden-Woche ein. Ihr Mut wurde belohmt, das fortschriftliche Arbeitszeitmodell beschert der Agentur jetzt einen wichtigen Preis.
Das verkörzte 5-Stunden-Arbeitszeitmodell von Rheingans Digital Enabler hat der Firma jetzt sogar eine Auszeichnung beschert: Beim "New Work Award 2019" des Karrierenetzwerks Xing belegt die Agentur aus Bielefeld Platz eins in der Kategorie "Unternehmen/Institutionen" und wurde zum Unternehmen des Jahres gekürt.
More than 900 participants in 2019
WOLFSBURG New Work gets the old economy going, 2017
BIFLEFELD Innovation culture, 2019
DÜSSELDORF Transformation - New Work changes companies, 2016
COLOGNE Transformation & culture@work, 2018
MONTABAUR Transformation of work, 2020
FRANKFURT Digitalisation and corporate culture, 2015
STUTTGART How companies succeed with New Work, 2016
BERLIN Brave New Work, 2015 Who transparency changes power, 2017
HALLE (SAALE) New Work, new cultures, 2018
MARBURG New Work Campus, 2016
VIENNA
Focus: Management, 2015 Innovation through freedom, 2018, New Culture, new Work, 2019
Beautiful world of new work, 2019
For employee-friendly companies
Scientifically proven, employee rated
New Work becomes measurable for the first time
For companies that create a world of work where people can find their true self and achieve their full potential.
Present employer appeal within and outside the company
CURRENT TRADING $(Q3 2020)$
NEW WORK SE | Q3 2020 RESULTS PRESENTATION
Workplace insights Hununu3 in 000s*
* Excl. Honeypot
NEW WORK SE | Q3 2020 RESULTS PRESENTATION
Launch of new XING TalentService (XTS)
We help companies with limited resources find the right talent by providing shortlists of max 7 candidates to HR teams
* Distorted by xo effects. See pro-forma P&Ls in Backup
Pro-forma
NEW WORK
| Segment EBITDA Q3 2020 |
Q3 2020 Margin |
Q3 2019 Margin |
$\triangle$ Comment | |
|---|---|---|---|---|
| B 2 C | 6.2 | 24% | 34% | • Over proportionally impacted by restructuring |
| B2B E-Recruiting | 25.8 | 67% | 67% | • Impacted by restructuring |
| B2B Marketing Solutions & Events | 0.4 | 10% | 30% | • Strongest negative COVID-19 effects • Impacted by restructuring |
| kununu International | 0.0 | N/A | Neg | |
| Tech, Central Services & Other | (8.7) | Neg | Neg | |
| Total EBITDA | 23.7 | 34% | 36% |
*EBITDA Margin = EBITDA / Service Revenue NEW WORK SE | Q3 2020 RESULTS PRESENTATION
Rounding differences possible
Service revenues in €m
| Q3 2020 reported |
Earn-Out adjustments M&A Transactions |
IFRS changes in value of financial assets |
Restructuring charges & other one- time effects |
Q3 2020 Pro-Forma |
Q3 2019 Pro-Forma |
Q3 2020 Pro- Forma vs. Q3 2019 Pro- Forma |
|
|---|---|---|---|---|---|---|---|
| Abs. | Abs. | Abs. | Abs. | Abs. | Abs. | Rel. | |
| Service revenues | 68.7 | 68.7 | 68.2 | 1% | |||
| Other operating income | 0.5 | 0.5 | 0.7 | (28%) | |||
| EBITDA | 23.7 | 2.7 | 26.4 | 24.2 | 9% | ||
| D&A | (7.3) | (7.3) | (7.0) | (4% ) | |||
| Financial result | 0.2 | (0.3) | (0.1) | (0.3) | 78% | ||
| Taxes | (4.4) | 0.1 | (0.9) | (5.2) | (7.3) | 29% | |
| Net income | 12.2 | (0.2) | 1.8 | 13.8 | 9.6 | 44% | |
| EPS | 2.17 | (0.04) | 0.33 | 2.46 | 1.71 | 44% |
| Q2 2020 reported |
Earn-Out adjustments M&A Transactions |
IFRS changes in value of financial assets |
Q2 2020 Pro-Forma |
Q2 2019 Pro-Forma |
Q2 2020 Pro- Forma vs. Q1 2019 Pro-Forma |
|
|---|---|---|---|---|---|---|
| Abs. | Abs. | Abs. | Abs. | Abs. | Rel. | |
| Service revenues | 67.5 | 67.5 | 65.5 | 3.0% | ||
| Other operating income | 0.4 | 0.4 | 0.6 | (25%) | ||
| EBITDA | 22.3 | 22.3 | 22.0 | 1.7% | ||
| D&A | (8.2) | (8.2) | (6.7) | (23.6%) | ||
| Financial result | 2.8 | (1.9) | (1.1) | (0.2) | (0.3) | 30.5% |
| Taxes | (4.8) | 0.3 | (4.4) | (4.9) | 9.9% | |
| Net income | 12.1 | (1.9) | (0.7) | 9.4 | 10.0 | $(6.1\%)$ |
| EPS | 2.15 | (0.34) | (0.13) | 1.68 | 1.79 | $(6.1\%)$ |
Q2 2020 adjusted for changes in earn-out provisions and IFRS changes in value of financial assets $\bullet$
Q2 2019 adjusted for IFRS changes in value of financial assets & changes in earn-out provisions $\bullet$
NEGATIVE INVESTED CAPITAL FROM SHAREHOLDERS' PERSPECTIVE Excl. event organiser cash and NWC in $\epsilon$ m
Rounding differences possible 42
~80% subscription based, mainly auto-renewal
Very diversified user and customer base
UP-FRONT PAYMENT Subscription packages are usually paid upfront
DIGITAL OPERATIONS Majority of operations are purely digital
OUTLOOK UPDATE BASED ON COVID-19 EFFECT Revenues: € 275 - 285M EBITDA margin: ~30%
| Consensus collected by IR | 2020e | 2021e | 2022e |
|---|---|---|---|
| Service revenues | 276 | 293 | 325 |
| EBITDA | 84 | 91 | 103 |
| Margin | 30% | 31% | 32% |
| D&A | (38) | (35) | (35) |
| EBIT | 46 | 56 | 68 |
| Margin | 17% | 19% | 21% |
| Net income | 34 | 37 | 45 |
| EPS in $\epsilon$ | 6.02 | 6.63 | 8.09 |
| DPS in $\epsilon$ | 2.86 | 3.25 | 3.84 |
| Analyst coverage | Berenberg, Commerzbank, Deutsche Bank, Hauck & Aufhäuser, MM Warburg, Pareto Securities |
|---|---|
| Shares | 5,620,435 |
Average trading volume per day (XETRA) & market cap (in $\notin$ bn)
| Burda Digital SE (DE) | 50.0 % |
|---|---|
| Oppenheimer (US) | 4.7 % |
| DWS (DE) | 3.1% |
| Allianz Global Investors (DE) | 3.0% |
| Kayne Anderson Rudnick (US) | 3.0% |
| Mawer (CAN) | 3.0% |
| Rest | 33.2 % |
Numbers based on last filing - current shareholdings can differ
Director Investor Relations NEW WORK SE Dammtorstrasse 30 20354 Hamburg Germany Tel.: +49 (0)40 419 131-793
Fax.: +49 (0)40 419 131-44
E-mail: [email protected]
18.1 Million users
Networking among professionals from every industry
Broad news portfolio
Premium partners such as HRS Hotels, Gymondo, Sixt, Harvard Business Manager and audible
Comprehensive profile visitor details Profile analysis with insights to boost visibility
Premium customer service
Send messages to non-contacts and view contact updates at a glance
Digital self-assessment with a personal strengths test + e-learning section with Premium content
Active & well-connected employees act as multipliers, spreading business information around the network in a targeted way
Boost your employer brand with clear and professional employee profiles
The powerful Premium search gives employees instant access to the right contacts
Browse contact updates, industry news and comprehensive statistics - grow your knowledge and your network
XING LicenceManager: Simple Premium licence assignment helps you reduce costs and admin.
Possibility to add more information to the profile, such as the willingness to move for a new job
100% confidential - possibility to hide information from superiors
Upload documents such as CV and certificates
Contact recruiters about vacancies
Find the right contacts within target businesses
Use the right information when approaching target clients
Keep a close eye on competitors
XING Talk and XING Talk unterwegs - watch video interviews with enticing ideas from experts on a variety of careers-related topics
Klartext - current affairs debates on XING, with new topics posted on a daily basis by guest authors that are open to discussion with users.
Industry news - read top daily articles in the form of a curated newsletter giving you the lowdown from more than 25 industries. More than 2 million people read industry news each week.
XING Insider – over 300 experts and pioneers from various professional fields share their knowledge and insights regularly on XING.
Corona Hacks - coronavirus-related news offers guidance and support throughout tricky times.
Experience an entirely new kind of recruiting
Enjoy job searches revolving around the own needs and preferences
Find jobs that meet individual criteria: family-friendly working conditions, good career opportunities, social and environmental expertise
Check out reviews posted on kununu, the original employer rating platform
Events
1.6 million business events
More than 18.1 million potential participants
over 12 million tickets sold
No. 1 marketplace for business events
Online events – easily create and promote webinars, hybrid events, virtual fairs & conferences.
Online registration – create a configurable ticket shop that can be integrated in websites. Manage ticket sales & delivery via the event platform.
Event promotion – reach the right target group on XING and take advantage of clever retargeting.
Payment processing – let us handle the entire billing process.
APIs – transfer attendee data on XING to own tools via API.
Entry management $-$ for events of all shapes and sizes.
All of the above is based on event data intelligence gleaned from over a million events
Target-group-specific advertising formats Convey your messages in a professional environment
18.1 million users Targeted advertising with XING
AdManager, mailings & articles
Accurate targeting Effective communication strategies
Co-branding Cross-product campaigns
18.1 million potential candidates in Germanspeaking countries
More than 60% of XING users are job hunting or open to offers
More than 64 million visits per month on XING and kununu
Product solutions for successful staff recruitment:
Authentic employer brand The cornerstone of staff recruitment
Largest employer review platform in Europe
More than 4.1 million authentic company reviews
More than 920,000 rated companies
Option for companies to showcase as appealing employer
Workplace insights Harnessing anonymous employee feedback
Weekly surveys Realtime feedback & discussion boards
Reports incl. benchmarks
Harmonise corporate culture and management
Employee engagement Boost throughout the entire company
More than 2,500 satisfied customers
Exclusive access to 18.1 mill. candidates
Job board multiposting on 300+ job boards
Applicant tracking system User-friendly & functional
Web-based & flexible Map the whole recruiting process
3.9 mill. members + communities in 420 COUNTries worldwide
6,000 monthly events and activities
Nearly 7,000 local event organisers
Global networking Feel at home everywhere
Meet other Global Minds ndon Hiking for Fun & Eltrass Group .
Co-Lunch - Networking and Sociability in your Lunch Brea
Diverse leisure activities
Flexibility on the labour market Collaboration between companies and freelancers
delivers suitable experts out of 450,000 freelancers within the XING network
Intelligent Matching Available experts in 48 hours
Hallo
Freelance
Freelancer Management Rating system to document experiences
Dein Schlüssel zu 450.000 Freelancern
Europe's developerfocused job platform
over 1,800 companies use Honeypot
80% of companies hire within 4 weeks
All candidates on Honeypot are prescreened and looking for a job.
Companies apply to talents $-$ not the other way around
At a glance New Work News New Work Award New Work Sessions New Work Experience NWXnow
Expert interviews, debates, research studies, hints, best practices, videos and podcasts
N U RI
Stories
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.