TeamViewer share rushes: TeamViewer can expand business and increase margin

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The sales of the remote maintenance specialist increased by 13 percent to 151.3 million euros, as the MDAX-listed company announced on Wednesday. Adjusted for special effects and before interest, taxes, depreciation and amortization, earnings increased by 18 percent to EUR 64.1 million. Among other things, bad debts were not as high as a year earlier. The corresponding margin increased by 2 percentage points to 42 percent. The bottom line is that TeamViewer achieved a profit of 23.1 million euros, around 58 percent more than a year earlier, also thanks to an improved financial result.

In business with major customers, TeamViewer continued to feel the reluctance to buy on the part of customers in the Americas region in view of the economic environment. While sales to major customers grew strongly, new business declined slightly. However, TeamViewer expects a recovery here. On the other hand, TeamViewer was also able to increase new business with small and medium-sized customers. In the core business of remote maintenance, the Göppingen-based company also wants to create more growth with a new version of its main product by making more offers available on a single software platform.

The management around CEO Oliver Steil confirmed the outlook for the year. “Although it is still very early in the year, we are confident that we will achieve our full-year guidance,” said Chief Financial Officer Michael Wilkens. TeamViewer plans sales growth of between 10 and 14 percent to EUR 620 to 645 million. The adjusted operating margin (Ebitda) is expected to be around 40 percent of sales, two percentage points higher than a year earlier.

Teamviewer lose significantly – focus on enterprise weakness

TeamViewer shares came under pressure on Wednesday after the quarterly report. The software provider’s papers fell by more than 9 percent at the top, down to the area of ​​their 50-day line. The TeamViewer papers then temporarily lost 7.91 percent via XETRA to EUR 15.43. The day before they had returned to the highest level since October 2021. In a first reaction to the interim report, JPMorgan analyst Toby Ogg criticized the slowdown in growth in the enterprise sector. This aspect should also be the focus of the telephone conference with the analysts.

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GÖPPINGEN (dpa-AFX) / FRANKFURT (dpa-AFX Broker)

Image sources: TeamViewer