2023-05-03 07:51:46
Software
Software provider Teamviewer expands business
The logo of the software manufacturer Teamviewer at the company’s headquarters in Göppingen, Baden-Württemberg. photo
© Sebastian Gollnow/dpa
The German provider of remote maintenance software is on course for growth. The people of Göppingen are sticking to their annual outlook. The company is growing, especially with small and medium-sized customers.
The software provider Teamviewer grew as expected in the first quarter and benefited from less rapidly rising costs. 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 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 has also been able to gain 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 annual forecast,” said Chief Financial Officer Michael Wilkens. Teamviewer is planning sales growth of between 10 and 14 percent to EUR 620 to 645 million. The adjusted operating margin (Ebitda) should amount to around 40 percent of sales.
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