Growth: Teamviewer stronger than expected

Growth: Teamviewer stronger than expected

team viewer

The German software company is highly profitable despite the economic crisis.

(Photo: dpa)

Dusseldorf Despite the difficult economic situation team viewer ended the past year with strong growth. The software maker increased both sales and profits more than analysts had expected. After publication of the preliminary figures, the share price rose by up to 6.5 percent to EUR 13.84 on Wednesday.

“We are proud of this impressive team effort while also recognizing the ongoing macroeconomic uncertainties,” said Chief Financial Officer Michael Wilkens in a statement. The group is assuming “continued high demand” for its solutions.

team viewer increased the billings – ie invoiced sales – in the fourth quarter by 24 percent to 191 million euros, currency-adjusted by 20 percent. For the year as a whole, the MDax group generated an increase of 16 percent to EUR 635 million, thereby achieving the forecast for the key figure that was lowered in the summer. Sales rose to 566 million euros in 2022, an increase of 13 percent.

Profitability also developed better than expected on the capital market. Adjusted earnings (Ebitda) last year were “at the upper end” of the forecast range of 45 to 47 percent – despite the expensive sports sponsorship that Teamviewer wants to reduce and despite inflation-related cost pressures.

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However, many shareholders are likely to be critical of one thing: Chief Financial Officer Wilkens announced “additional investments in research and development” in order to “further strengthen” the range of solutions. Management is likely to give details on February 7th when the full annual figures are published.

>> Read here: German companies are discovering the Metaverse – including Teamviewer

The announcement poses a risk to margin development, said financial analyst Toby Ogg JP Morgan. Profitability is a sensitive topic at Teamviewer because the company has invested heavily in new products, acquisitions and marketing deals in recent years. A prominent example is the sponsorship of the Premier League club Manchester United, which is to be ended soon.


Teamviewer develops software for remote maintenance and networking of computers and machines. When the corona pandemic caused a special boom, the management invested heavily. However, the high growth hopes have not been fulfilled. After several profit warnings, the share fell from almost EUR 55 in summer 2020 to EUR 7.67 in autumn 2022.

The recent growth fuels hopes of a trend reversal – despite the rough stock market climate for technology companies. Since the beginning of the year, the price has been up around 14 percent, and since the all-time low in October 2022 even around 80 percent. The British investment bank judged that the shares of the software manufacturer are still attractive in view of sustainable growth Barclays after publication of the figures.

More: Three factors that Teamviewer needs for a trend reversal.

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