Tech

Teamviewer confirms annual forecast after strong quarterly growth

Recently listed on the stock market software group Teamviewer grew rapidly in the third quarter. The invoiced sales increased in the three months to end of September by 63 percent to 83 million euros, as the company announced on Monday in Göppingen. In the current year, the manufacturer of computer remote maintenance software and videoconferencing for this value continues to aim for growth of 35 to 39 percent to 310 million to 320 million euros.

Adjusted for special effects, earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 95 percent to 46 million euros in the third quarter. Teamviewer also confirmed the forecast for these values, According to the operating profit should rise to 177 million euros to 183 million euros; In 2018, it was 121 million. On the bottom line, Teamviewer earned € 14 million in the third quarter, 40 percent more than a year ago.

With an issue volume of more than € 2.2 billion, Teamviewer recorded the largest German IT IPO since the dot-com bubble burst in September. Profiteer was the financial investor Permira, who had bought the company in 2014 for 870 million euros. Even after the IPO, he still holds around 60 percent of the company, which was last valued at around 5 billion euros.

For the subscribers of the IPO Teamviewer was not yet a success story. Based on the issue price, it fell in the first weeks by about one-fifth to 21.38 euros down. In recent weeks, the paper was able to recover and was at a price of 25.10 euros, just under five percent below the price of Permira IPO.

The company is considered as a candidate for the MDax because of its rating, but should not move into the second-rate index at the next index decision in December because of insufficient stock market turnover. Instead, the stock should be included in the SDax.


(ANW)



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