The company confirmed the outlook, according to which sales are expected to increase to 565 to 580 million euros in 2022.
Berlin The software company Teamviewer is reaping the fruits of the austerity course launched last year. The adjusted operating margin (Ebitda) climbed to 51 percent from 44 percent in the first quarter compared to the previous quarter, the Göppingen-based company announced on Wednesday.
“We have made strong progress in all cost areas,” outgoing Chief Financial Officer Stefan Gaiser told journalists, who will be succeeded by Deutsche Telekom MANAGER Michael Wilkens in September. The stock rose about five percent in premarket trading.
Now Teamviewer has a good cost base and visibility, added company CEO Oliver Steil. Compared to the previous year, the margin decreased significantly by ten percentage points due to the expensive sports sponsorship contracts with the English football record champion Manchester United and with Mercedes in Formula 1.
Steil defended the marketing activities that allowed the company to show new use cases. Adjusted operating profit fell by eight percent to EUR 83.2 million.
By contrast, sales of the company, which has become known for its remote maintenance software, climbed by twelve percent to 163.5 million euros from January to March – mainly thanks to a brisk business with major customers, which now generates more than a fifth of sales.
In two to three years, the division is expected to generate around a third of the revenues, as Gaiser announced. The partnerships with Google, SAP and Microsoft would also help in this.
TeamViewer confirmed the outlook, according to which sales should increase to 565 to 580 million euros in 2022 and the Ebitda margin should be between 45 and 47 percent. The now discontinued Russia business plays a subordinate role at Teamviewer.