TeamViewer Investor Relations

TeamViewer AG: Adjustment of deferred tax assets and effect on preliminary results 2019 (unaudited, IFRS)

TeamViewer AG / Key word(s): Preliminary Results
TeamViewer AG: Adjustment of deferred tax assets and effect on preliminary results 2019 (unaudited, IFRS)

25-Feb-2020 / 11:44 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Disclosure of an inside information according to Article 17 of Regulation (EU) No 596/2014 on market abuse (MAR)

Adjustment of deferred tax assets and effect on preliminary results 2019 (unaudited, IFRS)

Göppingen, February 25, 2020 - The preliminary results for 2019 (unaudited, IFRS) as published by TeamViewer AG ("TeamViewer") on February 10, 2020 shows deferred tax assets which exceed the correct amount by 7.0 million euros. While finalizing its financial statements for 2019, the company just noted that the recognized deferred tax assets on interest carry-forward need to be reduced due to necessary adjustments for trade tax purposes.

After the adjustment, deferred tax assets as of December 31, 2019 amounted to EUR 6.3m (instead of EUR 13.3m previously disclosed). Tax income in the fiscal year 2019 amounts to EUR 8.7m (instead of EUR 15.7m). Profit for the period after the adjustment amounts to EUR 103.9m in the fiscal year 2019 (instead of EUR 110.9m). Profit for the period in Q4/2019 amounts to EUR 44.6m (instead of EUR 51.6m).

Billings, Adjusted EBITDA, Revenue, Profit before taxation and all cash flows remain unaffected.

All stated figures are preliminary and unaudited. TeamViewer intends to publish its annual report 2019, containing TeamViewer's audited consolidated financial statements as of and for the fiscal year ended December 31, 2019, on March 26, 2020.

Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in TeamViewer's disclosures. You should not rely on these forward-looking statements as predictions of future events and we undertake no obligation to update or revise these statements. Our actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic developments, external fraud, lack of innovation capabilities, inadequate data security and changes in competition levels.

Carsten Keller
Head of Investor Relations and Capital Markets

25-Feb-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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