New Work SE

Earnings Release • Feb 29, 2012

News Details

Ad-hoc | 29 February 2012 18:36

XING AG: Executive Board proposes first-ever dividend payment; One-time, non-cash effect impacts negatively on consolidated earnings

XING AG / Key word(s): Dividend/Preliminary Results

29.02.2012 18:36

Dissemination 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.

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Hamburg, February 29, 2012 - At a meeting it held today within the scope of
financial reporting for the 2011 financial year, the XING AG Executive
Board unanimously agreed to put forward a proposal to the Supervisory Board
suggesting the Company's first-ever dividend payment of EUR3 million or
approximately EUR0.56 per share to the XING AG shareholders. The Executive
Board also performed an impairment test and decided to fully write down its
market entries in Spain and Turkey (EUR14.4 million). This decision is the
result of a clear focus on activities in German-speaking countries
(D-A-CH). Despite preliminary figures indicating a 22 percent rise in
revenues to EUR66.2 million and a 33 percent EBITDA rise to EUR22.2
million, this write-down impacts negatively on the Company's consolidated
income statement under IFRS. As a result, the Company reported consolidated
earnings of EUR-4.6 million (2010: EUR7.2 million), but has adjusted them
to enable a better comparison with the previous year's results. By taking
away this one-time, non-cash effect, the Company reported consolidated
earnings of EUR9.4 million, which represents an increase of 31 percent.
Preliminary earnings per share amounted to EUR-0.86 or EUR1.73 after
adjustment (previous year: EUR1.37). This adjustment does not impact
negatively on the Company's liquidity or on its consolidated earnings as
per the German Commercial Code (HGB).
The above values are based on individual and consolidated financial
statements that are as yet unapproved and have not been testified, meaning
that they remain subject to change. The final annual report for the 2011
financial year will be published on March 29, 2012.

For more information, please refer to the following press release:
http://corporate.xing.com/no_cache/english/press/press-releases/

The presentation of the preliminary results will be available from March 1,
2012, by going to:
http://redir.ec/qmfx

29.02.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: XING AG
Gänsemarkt 43
20354 Hamburg
Germany
Phone: +49 (0)40 419 131-793
Fax: +49 (0)40 419 131-11
E-mail: investor-relations@xing.com
Internet: www.xing.com
ISIN: DE000XNG8888
WKN: XNG888
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of Announcement DGAP News-Service

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