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Saturday, July 24, 2021

TeamViewer: High demand boosts sales expectations

According to preliminary figures, TeamViewer had a strong fourth quarter and a decent total annual turnover of 455.6 million euros.

The software company TeamViewer had a strong fourth quarter with a sales increase of 13 percent to 121 million euros compared to the previous year. In the entire financial year, too, with 455.6 million euros in sales and an increase of 17 percent compared to 2019, things are looking very rosy for the company based in Göppingen, as the preliminary annual report from Tuesday shows. This also inspires expectations for sales in the next few years: by 2023, the goal is to increase the billing record now set in 2020 from 460.3 million euros to over one billion euros.

TeamViewer’s billings rose by 44 percent compared to 2019, adjusted for currency effects. The strong fourth quarter contributed to ending 2020 as a record year, said TeamViewer CFO Stefan Gaiser. The key account segment , which continued to grow strongly, as shown in the preliminary annual report, helped in Q4 . In this context, TeamViewer refers to Siemens Healthineers, who with TeamViewer software can remotely access tens of thousands of imaging and laboratory diagnostic devices in clinics around the world. In addition, the dairy automation company uses TeamViewer Tensor to support agricultural businesses in over 45 countries via remote maintenance and to use it to rectify errors in agricultural equipment.

Number of customers almost tripled

The number of customers with an annual order value of more than 10,000 euros almost tripled in 2020 to 1885. At the end of 2019 the number was 698. In order to achieve this, TeamViewer has, according to its own information, significantly expanded its sales – for large customers as well as for small and medium-sized companies. The billings in the enterprise sector have grown by 204 percent to 53 million euros. According to the annual report, the number of total subscribers increased from 464,000 to 584,000 within a year. The changeover to a subscription model (Software-as-a-Service, SaaS) that took place in 2018 is obviously playing into the cards for TeamViewer and generating bubbly sales.

A lot has been invested in the past few years and there has been strong expansion. That would have paid off in 2020. The AMERICAS region achieved the highest growth; the EMEA region remained the largest of the three regions with “balanced growth”. Business with key accounts boomed particularly strongly in the fourth quarter. The APAC region with the growth markets of Japan (+102 percent) and India (+60 percent) also contributed to the successful quarter.

According to the preliminary, unaudited figures, 38.3 million euros remain as operating profit in Q4 of 121 million euros in sales. For the year as a whole, EBIT was 164 million euros with sales of 455.6 million euros.

TeamViewer is accordingly confident about 2021. Growth should continue due to ongoing digitalization, driven by the effects of the coronavirus pandemic. When it comes to billing, TeamViewer expects a currency-adjusted growth of between 29 percent and 33 percent – i.e. between 585 million euros and 605 million euros.

Despite the good numbers, the share price fell by 2.68 percent on Tuesday morning. A security is now worth EUR 44.65.

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