DGAP-News: TeamViewer AG
/ Key word(s): Development of Sales
TeamViewer with strong Q4 billings growth of 20%, preliminary FY 2021 results fully in line with guidance
Goppingen, January 12, 2022 - According to preliminary figures, TeamViewer AG closed the year with a strong fourth quarter 2021. Driven by a successful year-end finish with strong enterprise trading and continuous billings growth in the SMB segment, Q4 total billings increased by 20% (17% on a constant currency basis). TeamViewer also focused on maintaining a strong free-for-personal-use proposition and therefore suspended free-to-paid campaigns. The total number of subscribers at the end of the year was 627,000 (Dec 31, 2020: 584,000), in line with the annual target of 30-50 thousand additional subscribers laid out at the Capital Markets Day.
TeamViewer expects full year 2021 billings of around EUR 548m, consistent with the 2021 guidance (EUR 535m - 555m). This corresponds to a FY billings growth of 19% (20% cc). The adjusted EBITDA is expected to be between EUR 254m and EUR 257m, resulting in an adjusted EBITDA margin of around 47%.
Stefan Gaiser, CFO of TeamViewer, said: "We are pleased to have closed the year with a strong fourth quarter. This is marked by high renewal rates and strong billings growth, particularly in the important enterprise segment. The implementation of our dedicated roadmap to further drive top line growth and improve our cost structure is fully on track. We are delivering well against our strategy and are confident that we will continue to take advantage of our leading position in attractive growth markets."
TeamViewer will publish its full preliminary Q4 and FY 2021 results (unaudited) on February 2, 2022. Following the successful performance in Q4, TeamViewer will also give an update at that time on its capital allocation in line with the company's strategy presented at the Capital Markets Day.
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 more than 625,000 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 around 1,500 people globally. In 2020, TeamViewer achieved billings of EUR 460 million. TeamViewer AG (TMV) is listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found at www.teamviewer.com.
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. All figures contained in this release are preliminary and unaudited.
Alternative performance measures (APMs)
This document contains certain alternative performance measures (collectively, "APMs") including billings and Adjusted EBITDA that are not required by, or presented in accordance with, IFRS, German GAAP or any other generally accepted accounting principles. TeamViewer presents APMs because they are used by management in monitoring, evaluating and managing its business and management believes these measures provide an enhanced understanding of TeamViewer's underlying results and related trends. The definitions of the APMs may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools and should, therefore, not be considered in isolation or as a substitute for analysis of TeamViewer's operating results as reported under IFRS or German GAAP. APMs such as billings and Adjusted EBITDA are not measurements of TeamViewer's performance or liquidity under IFRS or German GAAP and should not be considered as alternatives to results for the period or any other performance measures derived in accordance with IFRS, German GAAP or any other generally accepted accounting principles or as alternatives to cash flow from operating, investing or financing activities.
TeamViewer has defined each of the following APMs as follows:
"Billings" represent the (net) value of invoiced goods and services charged to customers within a period and constitute a contract as defined by IFRS 15.
"Adjusted EBITDA" is defined as operating income (EBIT) as per IFRS plus depreciation and amortisation of tangible and intangible fixed assets (EBITDA), adjusted for change in deferred revenue recognised in profit or loss during the period under consideration and for certain transactions that have been defined by the Management Board in agreement with the Supervisory Board (income and expenses). Business events to be adjusted relate to share-based compensation models and other material special items of the business which are presented separately to show the underlying operating performance of the business.
"Adjusted EBITDA margin" means Adjusted EBITDA as a percentage of billings.
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1267578|
|End of News||DGAP News Service|