TeamViewer Investor Relations

TeamViewer with high 44% margin and 10% revenue growth in Q3 2023; on track to reach full year guidance

TeamViewer SE / Key word(s): Quarterly / Interim Statement/9 Month figures
TeamViewer with high 44% margin and 10% revenue growth in Q3 2023; on track to reach full year guidance

31.10.2023 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


GOPPINGEN, GERMANY, 31 October 2023

 

TeamViewer with high 44% margin and 10% revenue growth in Q3 2023; on track to reach full year guidance

  • Another quarter of double-digit revenue growth of 10%; billings up 8% on constant currency
  • Continued strong SMB contribution to billings mix (+9% on constant currency)
  • Relevant Enterprise deals closed (+6% billings on constant currency) with notable momentum especially in APAC
  • Adjusted EBITDA up 19% leading to a high Adjusted EBITDA margin of 44%
  • Reduced scope of Manchester United partnership from start of 2024/2025 season with significant positive effect on profitability
  • Early extension of Oliver Steil’s CEO contract through to 2028

 

Oliver Steil, TeamViewer CEO

« While we remained highly profitable in Q3, we further enhanced our product portfolio and improved our go-to-market approach. Thanks to a new partnership with Ivanti we took our mobile device management offering to the next level. In addition, Tensor received an SAP endorsement, which leads to an increased visibility in the SAP ecosystem. These are two valuable credentials that demonstrate our successful strategy to partnering with other leading tech companies. »

______

Michael Wilkens, TeamViewer CFO

« With 10%, we again delivered a double-digit revenue growth in Q3, at a high 44% margin. These results are testament to our ongoing strive for operational excellence while we navigate the difficult macro environment. We remain on track to reach our full year guidance. With further improvement to our profitability in sight for 2024, we stay committed to bolstering TeamViewer’s unique financial profile and to create shareholder value. »

 

Key Figures (consolidated, unaudited)

  Q3 2023 Q3 2022 Δ yoy 9M 2023 9M 2022 Δ yoy
Sales            
Revenue (in EUR m) 158.1 143.4 +10% 463.6 415.4 +12%
Billings (in EUR m) 149.8 144.6 +4%
(+8% cc1)
477.2 444.2 +7%
(9% cc1)
Number of subscribers2 (LTM) (in thousands) 626 619 +1% 626 619 +1%
Net retention rate (NRR LTM) 107% 103% +4pp 107% 103% +4pp
Profits and Margins            
Adjusted (Revenue) EBITDA3 (in EUR m) 70.3 58.9 +19% 198.1 172.6 +15%
Adjusted (Revenue) EBITDA3 margin 44% 41% +3pp 43% 42% +1pp
EBITDA (in EUR m) 59.4 46.0 +29% 166.9 134.3 +24%
EBITDA margin (EBITDA in % of revenue) 38% 32% +5pp 36% 32% +4pp
EBIT (in EUR m) 45.3 32.4 +40% 125.1 94.2 +33%
EBIT margin (EBIT in % of revenue) 29% 23% +6pp 27% 23% +4pp
Cashflows            
Cash flows from operating activities (in EUR m) 54.5 58.0 -6% 166.0 123.8 +34%
Cash flows from investing activities (in EUR m) -2.0 -3.2 -38% -14.7 -8.8 +67%
Levered Free Cashflow (FCFE) 45.7 48.5 -6% 144.4 98.6 +47%
Cash Conversion (FCFE / Adjusted EBITDA) 65% 82% -17pp 73% 57% +16pp
Cash and cash equivalents (in EUR m) 79.9 89.0 -10% 79.9 89.0 -10%
Other            
R&D Expenses (in EUR m) -19.6 -15.2 +29% -58.4 -50.2 +16%
Employees full-time equivalents (end of period) 1,433 1,364 +5% 1,433 1,364 +5%
Basic earnings per share (in EUR) 0.16 0.09 +70% 0.48 0.23 +111%
Adjusted basic earnings per share (in EUR) 0.22 0.18 +24% 0.66 0.51 +29%

1   cc = constant currency

2  Adjusted for Russia and Belarus

3  Since beginning of FY 2023, TeamViewer uses an updated KPI framework, with Revenue (IFRS) moving more into focus. On the back of this, the definition of the Adjusted EBITDA changed from a Billings to a Revenue perspective.

Business Highlights

In Q3 2023, TeamViewer’s new CPTO Mei Dent joined the management board. During the quarter, the company made good progress with product enhancements and tech collaborations. For example, a new partnership with unified endpoint management provider Ivanti integrates their industry-leading mobile device management (MDM) capabilities into TeamViewer’s remote connectivity offering. This enhances TeamViewer’s remote monitoring and management (RMM) functionality and provides customers with a holistic tool to efficiently and securely manage all their desktop and mobile IT devices out of one unified platform.     

Moreover, TeamViewer’s enterprise connectivity solution Tensor has successfully undergone the certification process to become an SAP® Endorsed App. Together with Frontline, which is already available in the SAP App Center, the Tensor certification now rounds up TeamViewer’s offering within the SAP certified ecosystem.

During Q3, TeamViewer has worked on a major update of the Tensor solution, which was released end of October. It entails increased security features as well as a redesigned interface and an improved user experience.

TeamViewer Tensor was also a major driver for the closure of relevant large deals in the third quarter. For example, t’order, a leading South Korean tablet ordering system provider for the hospitality industry, has selected TeamViewer to strengthen its customer support, making it possible to remotely access 120,000 devices currently deployed across the country. In the US, TeamViewer was able to significantly upgrade the existing licenses of one of the largest telecommunications equipment companies into one comprehensive high-value Tensor contract.

In general, the business saw more sales traction in Q3 from channel and tech partnerships. More Frontline deals were sold together with SAP across the regions. The most relevant Frontline project was the further rollout of TeamViewer’s picking solution to more warehouses of Nadro, Mexico’s largest wholesaler for the healthcare industry.   

On the back of the above-mentioned business highlights, TeamViewer continued its strong financial performance in Q3 2023. The company delivered a solid 10% revenue growth in Q3 2023 while the Adjusted (Revenue) EBITDA grew even stronger, by 19%, resulting in a high 44% margin. Total billings increased by 8% on constant currency. This growth path is underlined by a solid Net Retention Rate (NRR, LTM) of 107% (+4pp compared to Q3 2022). TeamViewer's global customer base totaled 626k at the end of Q3 2023 and remained largely stable on a sequential quarter (-1% vs. Q2 2023) and yoy quarter (+1% vs. Q3 2022) view.

On 25 October 2023, the Supervisory Board of TeamViewer SE extended the appointment of Oliver Steil as the company’s CEO and Chairman of the Management Board for another five years. His third term as TeamViewer’s CEO began with immediate effect and runs until October 2028. The early extension of his contract will allow him to focus on further developing and executing TeamViewer’s growth strategy.

SMB and Enterprise Development

Revenue and Billings by customer 

EUR m Q3 2023 Q3 2022 Δ yoy 9M 2023 9M 2022 Δ yoy
SMB            
Revenue2 127.6 118.5 +8% 374.8 344.7 +9%
Billings 122.8 117.9 +4% (+9% cc1) 387.4 355.5 +9% (+11% cc1)
Enterprise            
Revenue2 30.5 24.9 +22% 88.8 70.6 +26%
Billings 27.1 26.7 +2% (+6% cc1) 89.8 88.7 +1% (+3% cc1)
Total Revenue 158.1 143.4 +10% 463.6 415.4 +12%
Total Billings 149.8 144.6 +4% (+8% cc1) 477.2 444.2 +7% (+9% cc1)

1   cc = constant currency

2 Since FY 2023, the effects of multi-year deals are considered more precisely in the revenue split calculation. Prior year's comparable figures (Q3 2022 reported: SMB EUR 115.7m; Enterprise EUR 27.7m; 9M 2022 reported: SMB EUR 338.0m; Enterprise EUR 77.4m) were adjusted accordingly.

 

With an 8% yoy revenue growth and a 9% yoy billings growth on constant currency, TeamViewer’s SMB business again delivered a strong performance in Q3 2023. While this was the last quarter of a 12-months price change motion, TeamViewer is confident about its SMB pricing potential going forward, especially on the back of a continuously improved product offering. Besides pricing, the SMB billings growth was driven by monetization campaigns, a constantly improved webshop experience, and by targeted up- and cross-selling measures. On a year-on-year basis, the SMB customer base increased by 1% to 622k.

Despite the current macroeconomic environment, Enterprise billings grew by 6% yoy on constant currency with relevant new deal closures in Q3 2023. Revenue grew by 22% yoy, driven by successful previous period up- and cross-selling measures and the release of multi-year billings to revenues. The Enterprise customer base increased by 738 customers (or 22% yoy) to 4,034 at the end of Q3 2023.

Regional Development

Revenue and Billings by region

EUR m Q3 2023 Q3 2022 Δ yoy 9M 2023 9M 2022 Δ yoy
EMEA            
Revenue 84.4 76.1 +11% 245.6 222.8 +10%
Billings 73.7 68.0 +8% (+9% cc1) 253.7 230.9 +10% (+10% cc1)
AMERICAS            
Revenue 55.7 50.5 +10% 164.6 143.8 +14%
Billings 57.4 58.5 -2% (+5% cc1) 164.1 159.2 +3% (+5% cc1)
APAC            
Revenue 18.1 16.8 +8% 53.4 48.7 +10%
Billings 18.8 18.1 +4% (+15% cc1) 59.4 54.1 +10% (+18% cc1)
Total Revenue 158.1 143.4 +10% 463.6 415.4 +12%
Total Billings 149.8 144.6 +4% (+8% cc1) 477.2 444.2 +7% (+9% cc1)

 1  cc = constant currency

 

Both, revenue and billings on constant currency, increased across all regions in Q3 2023, with the strongest regional performance again in APAC (+15% cc billings). Revenue-wise, the EMEA region showed the strongest growth rate (+11% yoy). All regions saw more sales traction from channel and tech partnerships.

Earnings Development

Under a continued cost discipline, combined with favourable currency and phasing effects, the recurring cost base increased by only 4% in Q3 2023. This led to a strong yoy increase of the Adjusted (Revenue) EBITDA by 19% to EUR 70.3m, which translates into a high Adjusted (Revenue) EBITDA margin of 44%.

Higher growth in cost of sales and R&D expenses, mainly due to more Frontline deployments and accelerated product enhancements, were more than offset by temporary lower growth in marketing cost, improved G&A and other income / expenses.

Recurring cost (adjusted for non-recurring items and D&A)

EUR m Q3 2023 Q3 2022 Δ yoy 9M 2023 9M 2022 Δ yoy
Cost of Sales (COGS) -12.0 -10.3 +17% -33.4 -29.3 +14%
Sales -21.1 -18.7 +13% -64.5 -56.3 +15%
Marketing -32.3 -30.7 +5% -98.2 -88.7 +11%
R&D -15.5 -12.3 +26% -46.3 -38.7 +20%
G&A -7.6 -9.4 -19% -24.0 -21.9 +10%
Other1 0.7 -3.1 -124% 1.1 -7.9 -113%
Total COGS and OpEx -87.8 -84.5 +4% -265.4 -242.8 +9%

1 Incl. other income/expenses and bad debt expenses of EUR 1.3m in Q3 2023 and EUR 3.7m in Q3 2022 / EUR 5.2m in 9M 2023 and EUR 9.2m in 9M 2022.

 

With a decreasing non-recurring cost base, the (unadjusted) EBITDA increased by 29% to EUR 59.4m in Q3 2023. The Net Income grew by 61% to EUR 26.5m and the EPS grew even stronger, by 70% to EUR 0.16, due to continued share buybacks. The Adjusted EPS increased by 24% to EUR 0.22.

Financial Position

TeamViewer operates a highly cash-generative business, where customers generally pay their subscriptions upfront. In Q3 2023, both the pre-tax Unlevered Free Cash Flow (pre-tax UFCF) and the Levered Free Cash Flow (FCFE) decreased in a yoy comparison, by 3% and 6%, to still strong EUR 63.4m and EUR 45.7m respectively. This was mainly due to a lower Q3 billings growth and a higher cash outflow from sponsorships including a one-time effect from reducing the scope of the Manchester United partnership. On a nine-month basis, pre-tax UFCF and FCFE grew by 29% and 47%. The resulting cash conversion, FCFE in relation to the Adjusted (Revenue) EBITDA, was at 65% for Q3 2023 and 73% for 9M 2023. Therefore, the Cash Flow development is fully in line with expectations.

Cash and cash equivalents were at EUR 79.9m as of 30 September 2023. The reduction by EUR 81.1m compared to 31 December 2022 was mainly driven by the 2023 share buyback program (EUR 115.2m counter value of shares acquired in 9M 2023) and a debt repayment of EUR 100m, partly offset by net cash inflows.

The EUR 100m debt repayment led to a decreased debt volume of EUR 531.7m (incl. lease liabilities) as of 30 September 2023 (632.6m as of 31 December 2022), of which EUR 300m promissory notes and EUR 200m bank loans.

The net leverage ratio (net financial liabilities of EUR 451.8m as of 30 September 2023 in relation to the LTM Adjusted (Revenue) EBITDA of EUR 255.4m) was at 1.8x at the end of Q3 2023 (31 December 2022: 2.1x). This corresponds to a ratio of 1.5x as of 30 September 2023 (31 December 2022: 1.6 x) when comparing net financial liabilities in relation to adjusted (Billings) EBITDA of the last twelve months.

Outlook

With the operational development for the remainder of the year on track, TeamViewer confirms its guidance for FY 2023. Based on fixed foreign exchange rates, the company expects FY 2023 revenues in a range between EUR 620m and EUR 645m at growth rates between 10% to 14%. The Adjusted (Revenue) EBITDA margin for FY 2023 is targeted at around 40%.

###

 

Webcast

Oliver Steil (CEO) and Michael Wilkens (CFO) will speak at an analyst and investor conference call at 9:00am CET on 31 October 2023 to discuss the Q3/9M 2023 results. The audio webcast can be followed via https://www.webcast-eqs.com/teamviewer-2023-q3. A recording will be available on the Investor Relations website at ir.teamviewer.com. The accompanying presentation is also available for download there.

About TeamViewer

TeamViewer is a leading global technology company that provides a connectivity platform to remotely access, control, manage, monitor, and repair devices of any kind – from laptops and mobile phones to industrial machines and robots. Although TeamViewer is free of charge for private use, it has around 630,000 subscribers and enables companies of all sizes and from all industries to digitalize their business-critical processes through seamless connectivity. Against the backdrop of global megatrends like device proliferation, automation and new work, TeamViewer proactively shapes digital transformation and continuously innovates in the fields of Augmented Reality, Internet of Things and Artificial Intelligence. Since the company’s foundation in 2005, TeamViewer’s software has been installed on more than 2.5 billion devices around the world. The company is headquartered in Goppingen, Germany, and employs more than 1,400 people globally. In 2022, TeamViewer achieved a revenue of around EUR 566m. TeamViewer SE (TMV) is listed at Frankfurt Stock Exchange and is a member of the MDAX. Further information can be found at www.teamviewer.com.

Contact

Press
Martina Dier
Vice President, Communications
E-Mail: [email protected]
Investor Relations
Ursula Querette
Vice President, Capital Markets
E-Mail: [email protected]

Important Notice

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 TeamViewer’s 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. TeamViewer undertakes no obligation, and does not expect to publicly update, or publicly revise, any forward-looking statement, whether as a result of new information, future events or otherwise.

All stated figures are unaudited.

Percentage change data and totals presented in tables throughout this document are generally calculated on unrounded numbers. Therefore, numbers in tables may not add up precisely to the totals indicated and percentage change data may not precisely reflect the change data of the rounded figures for the same reason.

This document contains alternative performance measures (APM) that are not defined under IFRS. The APMs (non-IFRS) can be reconciled to the key performance indicators included in the IFRS consolidated financial statements and should not be viewed in isolation, but only as supplementary information for assessing the operating performance. TeamViewer believes that these APMs provide an additional, deeper understanding of the Company's performance.

TeamViewer has defined each of the following APMs as follows:

  • Adjusted EBITDA (also referred to as Adjusted (Revenue) EBITDA) is defined as operating income (EBIT) according to IFRS, plus depreciation and amortisation of tangible and intangible fixed assets (EBITDA), adjusted for certain business transactions (income and expense) defined by the Management Board in agreement with the Supervisory Board. Business transactions to be adjusted relate to share-based compensation schemes and other material special items of the business that are presented separately to show the underlying operating performance of the business. Until FY 2022, TeamViewer defined Adjusted EBITDA (then also referred to as Adjusted (Billings) EBITDA) as operating income (EBIT) according to IFRS, plus depreciation and amortisation of tangible and intangible fixed assets (EBITDA), adjusted for the change in deferred revenue recognised in profit or loss in the period under review and for certain business transactions (income and expense) defined by the Management Board in agreement with the Supervisory Board. Business transactions to be adjusted relate to share-based compensation schemes and other material special items that are presented separately to show the underlying operating performance of the business.
  • Adjusted EBITDA margin (also referred to as Adjusted (Revenue) EBITDA Margin) means Adjusted EBITDA as a percentage of revenue. Until FY 2022, TeamViewer defined Adjusted EBITDA margin (also referred to as Adjusted (Billings) EBITDA Margin) as Adjusted EBITDA as a percentage of Billings.
  • Billings represent the value (net) of goods and services invoiced to customers within a specific period and which constitute a contract as defined by IFRS 15.
  • Retained Billings means recurring Billings (renewals, up- & cross sell) attributable to retained subscribers who were subscribers in the previous twelve-month period.
  • New Billings means recurring Billings attributable to new subscribers.
  • Non-recurring Billings means Billings that do not recur, such as professional services and hardware reselling.
  • Net Retention Rate (NRR) means the Retained Billings of the last twelve months (LTM), divided by the total recurring Billings (Retained Billings + New Billings) of the previous twelve-month period (LTM-1). The total recurring Billings of the LTM-1 period are adjusted for Multi Year Deals (MYD).
  • Annual Recurring Revenue (ARR) are annualized recurring Billings for all active subscriptions at the reporting date.
  • Number of subscribers means the total number of paying subscribers with a valid subscription at the reporting date.
  • SMB customers mean customers with ACV across all products and services of less than EUR 10,000 within the last twelve-month period. If the threshold is exceeded, the customer will be reallocated.
  • Enterprise customers mean customers with ACV across all products and services of at least EUR 10,000 within the last twelve-month period. Customers who do not reach this threshold will be reallocated.
  • Churn (subscriber) is calculated by dividing the number of retained subscribers at the reporting date by the total number of subscribers at the previous year’s reporting date.
  • Average Selling Price (ASP) is calculated by dividing the total SMB / Enterprise Billings of the last twelve months (LTM) by the total number of SMB / Enterprise subscribers at the reporting date.
  • Annual Contract Value (ACV) is used to distinguish different pricing buckets within SMB and Enterprise. The ACV is defined as the annualized value of one SMB / Enterprise contract.
  • Net financial liabilities are defined as financial liabilities (without other financial liabilities) less cash and cash equivalents.
  • Net leverage ratio means the ratio of net financial liabilities to Adjusted EBITDA of the last twelve-month period.
  • Levered Free Cash Flow (FCFE) means net cash from operating activities less capital expenditure for property, plant and equipment and intangible assets (excl. M&A), payments for the capital element of lease liabilities and interest paid for borrowings and lease liabilities.
  • Cash Conversion (FCFE) means the percentage share of Levered Free Cash Flows (FCFE) in relation to the Adjusted EBITDA.
  • Adjusted Net Income is the net income adjusted for certain income and expenses. These adjustments are: share-based compensation, amortization related to business combinations, other non-recurring income and expenses and related tax effects.

 

Consolidated Profit & Loss Statement (unaudited)

EUR thousand Q3 2023 Q3 2022 9M 2023 9M 2022
Revenue 158,114 143,390 463,575 415,368
 Cost of sales (20,751) (24,744) (59,580) (60,402)
Gross profit 137,363 118,646 403,995 354,966
 Research and development (19,581) (15,152) (58,386) (50,196)
 Marketing (33,336) (32,070) (101,660) (95,307)
 Sales (23,486) (23,493) (78,151) (71,750)
 General and administrative (10,470) (12,480) (34,521) (38,678)
 Bad debt expenses (1,282) (3,676) (5,233) (9,241)
 Other income 1,402 763 5,248 4,992
 Other expenses (5,317) (169) (6,241) (547)
Operating Profit 45,292 32,368 125,051 94,238
 Finance income (438) 2,464 806 2,939
 Finance costs (3,468) (5,285) (12,136) (21,914)
 Foreign currency result (1,162) (522) (2,772) (4,225)
Profit before tax 40,224 29,025 110,949 71,038
 Income taxes (13,676) (12,544) (27,206) (28,168)
Net income 26,548 16,481 83,743 42,871
Basic number of shares issued and outstanding 170,592,360 180,137,497 173,527,084 187,465,171
Basic earnings per share (in € per share) 0.16 0.09 0.48 0.23
Diluted number of shares issued and outstanding 171,855,624 180,228,580 174,285,966 187,733,759
Diluted earnings per share (in € per share) 0.15 0.09 0.48 0.23

 

 

Consolidated Balance Sheet Total Assets (unaudited)

 EUR thousand 30 September 2023 31 December 2022
 Non-current assets    
Goodwill 667,975 667,929
Intangible assets 185,429 212,864
Property, plant and equipment 44,765 50,265
Financial assets 13,428 18,537
Other assets 17,934 11,922
Deferred tax assets 17,271 2,126
 Total non-current assets 946,802 963,644
 Current assets    
Trade receivables 12,741 18,295
Other assets 45,118 19,392
Tax assets 174 3,335
Financial assets 5,423 7,038
Cash and cash equivalents 79,891 160,997
 Total current assets 143,347 209,057
 Total assets 1,090,149 1,172,702

 

 

 

Consolidated Balance Sheet Liabilities and Equity (unaudited)

EUR thousand 30 September 2023 31 December 2022
 Equity    
Issued capital 180,000 186,516
Capital reserve 179,771 236,849
Accumulated losses (125,460) (209,203)
Hedge reserve 1,399 (1,620)
Foreign currency translation reserve 3,188 3,003
Treasury share reserve (147,152) (100,263)
 Total equity attributable to shareholders of TeamViewer SE 91,747 115,282
Non-current liabilities    
Provisions 318 530
Financial liabilities 432,512 519,346
Deferred revenue 38,408 24,151
Deferred and other liabilities 2,330 2,081
Other financial liabilities 0 3,119
Deferred tax liabilities 31,941 33,852
Total non-current liabilities 505,509 583,079
Current liabilities    
Provisions 10,336 9,013
Financial liabilities 99,203 113,295
Trade payables 8,515 8,875
Deferred revenue 295,086 288,138
Deferred and other liabilities 55,235 42,385
Other financial liabilities 11,242 11,537
Tax liabilities 13,278 1,098
Total current liabilities 492,894 474,341
 Total liabilities 998,403 1,057,420
Total equity and liabilities 1,090,149 1,172,702

Consolidated Cash Flow Statement (unaudited)

EUR thousand Q3 2023 Q3 2022 9M 2023 9M 2022
Profit before tax 40,224 29,025 110,949 71,038
Depreciation, amortization and impairment of non-current assets 14,086 13,610 41,830 40,103
Increase/(decrease) in provisions 1,087 8,196 1,110 8,575
Non-operational foreign exchange (gains)/losses (185) (2,420) 65 4,363
Expenses for equity settled share-based compensation (1,112) 5,296 14,287 19,865
Net financial costs 3,906 2,821 11,330 18,975
Change in deferred revenue (9,877) 2,482 21,204 29,690
Changes in other net working capital and other 19,239 11,553 (4,103) (34,271)
Income taxes paid (12,900) (12,588) (30,677) (34,569)
Cash flows from operating activities 54,467 57,975 165,996 123,770
Payments for tangible and intangible assets (1,714) (3,159) (4,582) (6,832)
Payments for financial assets 0 0 (2,038) 0
Payments for acquisitions (250) 0 (8,073) (1,977)
Cash flows from investing activities (1,964) (3,159) (14,693) (8,809)
Repayments of borrowings 0 (470,376) (100,000) (470,376)
Proceeds from borrowings 0 184,323 0 184,323
Payments for the capital element of lease liabilities (2,273) (2,200) (5,165) (6,260)
Interest paid for borrowings and lease liabilities (4,812) (4,152) (11,872) (12,128)
Purchase of treasury shares (37,774) (68,930) (115,211) (300,088)
Cash flows from financing activities (44,858) (361,335) (232,248) (604,528)
         
Net change in cash and cash equivalents 7,644 (306,518) (80,945) (489,567)
Net foreign exchange rate difference 354 10,985 (161) 27,702
Net change from cash risk provisioning 0 1,110 0 305
Cash and cash equivalents at beginning of period 71,892 383,396 160,997 550,533
Cash and cash equivalents at end of period 79,891 88,973 79,891 88,973

 



31.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: TeamViewer SE
Bahnhofsplatz 2
73033 Göppingen
Germany
Phone: +49 7161 97200 81
Fax: +49 7161 60692 335
E-mail: [email protected]
Internet: www.teamviewer.com
ISIN: DE000A2YN900
WKN: A2YN90
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1760871

 
End of News EQS News Service

1760871  31.10.2023 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1760871&application_name=news&site_id=airport_aws