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XING AG: Executive Board proposes 48 per cent dividend increase for 2014: exceptional non-cash impairment on stake in XING Events GmbH impacts net results.
XING AG / Key word(s): Dividend/Preliminary Results 20.02.2015 18:51 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Hamburg, 20 February 2015 - At its meeting held today, the Executive Board of XING AG (O1BC/ISINDE000XNG888) unanimously resolved to propose to the Supervisory Board a 48 per cent regular dividend increase compared to the previous year. A total of around EUR 5.1 million or EUR 0.92 per share (previous year: EUR 0.62) is proposed to be paid out to XING AG shareholders. This decision is based on the preliminary financial results for 2014, which provide for an increase in Group revenues generated by the Company in 2014 (20 per cent increase to EUR 101.4 million compared to 2013)as well as in the Group's earnings positions adjusted for kununu earn-outs and extraordinary items (30 per cent increase in EBITDA to EUR 31.6 million, 49 per cent increase in net income to EUR 15.7 million, and 48 per cent increase in earnings per share to EUR 2.81, each compared to 2013). In addition, the Executive Board unanimously resolved to completely impair ist stake in XING Events GmbH due to changed market conditions. This impairment has a negative impact of EUR 8.1 million on XING AG's annual accounts and of EUR 7.1 million on XING AG's IFRS consolidated group financial statements. The impairment has no cash effect and does neither affect the strategy nor the long-term outlook of the XING group. Euro amounts mentioned above are all based on unaudited and unapproved financial statements and may therefore be subject to change. The company will publish its preliminary results for the 2014 financial year on Monday 23 February 2015. The audited and approved figures and the 2014 Annual Report will be published on 25 March 2015. 20.02.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: XING AG Dammtorstraße 30 20354 Hamburg Germany Phone: +49 (0)40 419 131-793 Fax: +49 (0)40 419 131-44 E-mail: investor-relations@xing.com Internet: www.xing.com ISIN: DE000XNG8888 WKN: XNG888 Indices: TecDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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