PRELIMINARY INCOME STATEMENT OF XING AG (adjusted)

(adjusted by kununu earn-out-liabilities and write-down of XING Events GmbH)

for the period from January 1 to December 31, 2014

	01.01.2014 - 31.12.2014	01.01.2013 - 31.12.2013
In €000s
Total revenues	101,373	84,783
EBITDA*	31,621	24,311
EBIT**	23,013	15,857
Consolidated net profit***	15,738	10,544
*
Earnings per share (undiluted)	2.81	1.90
* Earnings per share (diluted)	2.81	1.90

* Excl. kununu earn-out of €2.4m

** Excl. kununu earn-out of €2.4m and write-down of XING Events of €7.5m

*** Excl. kununu earn-out of €2.4m (plus €0.1m interests) and write-down of XING Events of €7.5m (minus €0.5m tax effect)

Rounding differences possible

PRELIMINARY GROUP P&L OF XING AG (reported)

for the period from January 1 to December 31, 2014

In €000s	01.01.2014 - 31.12.2014	01.01.2013 - 31.12.2013

Revenues from services	99,217	83,330
Other operating income	2,156	1,453
Total revenues	101,373	84,783
Personnel expenses	-41,820	-35,782
Marketing expenses	-9,118	-6,144
Other operating expenses	-21,225	-20,031
EBITDA	29,210	22,826
Depreciation	-16,155	-8,453
EBIT	13,055	14,373
Financial income	76	131
Financial costs	-104	-32
EBT	13,027	14,472
Taxes on income	-6,852	-5,335
Consolidated net profit	6,175	9,137

Earnings per share (undiluted)	1.11	1.65
Earnings per share (diluted)	1.10	1.65

as of december 31,2014

ASSETS	31.12.2014	31.12.2013
	in €000s	in €000s
NON-CURRENT ASSETS
Intangible assets
Software and licenses	3,645	3,534
Internally generated software	12,631	8,752
Goodwill	2,169	7,743
Other intangible assets	2,168	3,510
Property, plant and equipment
Leasehold improvements	461	490
Other equipment, operating and office equipment	4,668	5,805
Financial assets
Equity investments	51	51
Other financial assets	25	42
Deferred tax assets	483	941
	26,301	30,868
CURRENT ASSETS
Receivables and other assets
Receivables from services	12,013	8,621
Income tax receivables	0	389
Other assets	2,622	3,443
Cash and cash equivalents and short-term deposits
Cash	63,951	66,160
Third-party cash	3,248	2,820
	81,834	81,433
	108,135	112,301

LIABILITIES	31.12.2014	31.12.2013
	in €000s	in €000s
EQUITY
Subscribed capital	5,592	5,592
Treasury shares	-432	-455
Capital reserves	18,477	18,477
Other reserves	6,995	16,368
Net retained profits	12,775	20,600
	43,407	60,582
NON -CURRENT LIABILITIES
Deferred tax liabilities	4,503	3,557
Deferred income	2,314	2,082
Other provisions	249	215
Other financial liabilities	3,896	1,485
Other liabilities	251	592
	11,213	7,931
CURRENT LIABILITIES
Trade accounts payable	2,398	2,015
Deferred income	35,780	29,368
Other provisions	489	703
Income tax liabilities	1,089	0
Other liabilities	13 ,759	11 ,702
	53,515	43,788
	108,135	112,301

for the period from January 1 to December 31, 2014

	2014	2013
	in €000s	in €000s
Earnings before taxes	20,574	14,472
Amortization and write-downs of capitalized development costs	2,632	1,920
Depreciation, amortization and impairment losses	5,976	6,533
on other fixed assets
Personnel expenses, stock option program	61	66
Interest income	-76	-131
Interest received	110	163
Interest expense	104	32
Taxes paid	-3,970	-5,013
Non-capitalizable payments for the acquisition of consolidated companies	0	372
Result from disposal of assets	0	-52
Change in receivables and other assets	-2,588	-2,133
Change in liabilities and other equity and liabilities	5,181	2,859
Non-cash changes from changes in basis of consolidation	0	-1,431
Change in deferred income	6,644	6,338
Elimination of XING Events GmbH third-party obligation	-428	-206
CASH FLOWS FROM OPERATING ACTIVITIES	34,220	23,789
Payment for capitalization of internally generated software	-7,531	-3,791
Payment for purchase of software	-2,532	-2,408
Payments for purchase of other intangible assets	-216	-123
Payments for purchase of property, plant and equipment	0	200
Payments for the purchase of assets	-1,784	-4,314
Payments for the purchase of financial assets	0	-19
Payment for acquisition of consolidated companies
(less cash acquired)	-944	-2,949
CASH FLOW FROM INVESTING ACTIVITIES	-13,007	-13,404

	2014	2013
	in €000s	in €000s
Proceeds from the exercise of options	0	1,122
Proceeds from the sale of treasury shares	23	1,584
Dividend payment	-3,460	-3,089
Special dividend payment	-19,974	0
Interest paid	-11	-1
CASH FLOWS FROM FINANCING ACTIVITIES	-23,422	-384
Net change in cash funds	-2,209	10,001
Cash funds at the beginning of the period	66,160	56,159
CASH FUNDS AT THE END OF THE PERIOD 1 )	63,951	66,160
Third-party cash funds at the beginning of period	2,820	2,614
Change in third-party cash and cash equivalents	428	206
THIRD PARTY CASH FUNDS AT THE END OF THE PERIOD	3,248	2,820

1) Cash and cash equivalents consist of liquid funds.