Earnings Release • Mar 29, 2007
Earnings Release
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News Details
Ad-hoc | 29 March 2007 10:10
OPEN Business Club AG releases annual report and provides forecast for current financial year
OPEN Business Club AG / Final Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
OPEN Business Club AG will release its annual report and final results
today for the 2006 short financial year (July 1 to December 31, 2006), and
provide a forecast for the current 2007 financial year (January 1 to
December 31, 2007). For the current reporting period, OPEN Business Club AG
expects a continued solid increase in revenues as a result of new member
acquisitions due to viral marketing and the continual expansion of
communications and marketing activities. The development of future
services, in particular the XING Marketplace, where members are able to
post job and service offers, is expected to further increase growth. The
introduction of the Marketplace is scheduled for the first half of 2007.
Assuming a sustained economic upturn, the Management Board expects revenues
to approximately double in the 2006 financial year (2006 calendar year:
10.1 million euros*). Regarding the future development of company
profitability, OPEN Business Club AG expects to continue to reap the
benefits of its scalable business model, further boosting the EBITDA margin
in FY 2007. Given the expected increase in revenue, OPEN Business Club
expects the EBITDA margin to rise to between 30 and 35%.
On March 6, 2007, OPEN Business Club AG released preliminary results for
the 2006 short financial year. The final results published today do not
differ from the reported preliminary results.
Important notice:
Pro forma results
Results marked with an * are unaudited pro forma financial results that the
Company derived from its preliminary and past financial statements for the
indicated periods, in order to make these periods comparable.
Cautionary note regarding forward-looking statements
This ad-hoc release contains forward-looking statements concerning OPEN
Business Club AG, its subsidiaries and affiliated companies as well as
concerning economic and political conditions that could influence the
business development of OPEN Business Club AG.
Forward-looking statements are based on the current views, expectations and
assumptions of the management of OPEN Business Club AG and involve known
and unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or implied
in such statements. OPEN Business Club AG therefore does not assume any
responsibility for such risks, and makes no guarantee as to the accuracy
and completeness of the assumptions and estimates upon which the
forward-looking statements are based, nor does the Company or its bodies
ensure the correctness of the statements contained in this press release.
Information and Explaination of the Issuer to this News:
About XING:
XING makes your professional network an active part of your life. Far more
than a directory of business contacts, XING enables its members to discover
professional people, opportunities and privileges through its unique
discovery capability and advanced contact management tools.
The first Web 2.0 company to go public, OPEN Business Club AG successfully
floated on the Frankfurt Stock Exchange in December 2006, thus setting the
benchmark for the social networking industry. By focusing on the target
group 'business people worldwide', the company is able to offer tailored
features, thereby making networking and contact management simpler. At
present, 73 employees from 13 different countries work for the company,
which has its headquarters in Hamburg and offices in Beijing and Zurich.
XING. Powering Relationships.
Contact:
Daniela Hinrichs
VP Corporate Communications
Gaensemarkt 43
20354 Hamburg
Phone +49 40 419131-19
Fax +49 40 419131-11
[email protected]
Language: English
Issuer: OPEN Business Club AG
Gänsemarkt 43
20354 Hamburg Deutschland
Phone: +49 (0)40 419 131-10
Fax: +49 (0)40 419 131-11
E-mail: [email protected]
www: www.xing.com
ISIN: DE000XNG8888
WKN: XNG888
Indices:
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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