TeamViewer AG (TMVWF.PK,TMVWY.PK), a German remote access computer software provider, Tuesday said it expects double-digit percentage growth in revenue, stable margin and renewed share buyback in fiscal 2023.
As announced in early February, the company expects fiscal 2023 revenue growth of 10 percent to 14 percent to 620 million euros to 645 million euros. Adjusted EBITDA margin for the full year is expected
to remain strong and stable at around 40 percent.
Oliver Steil, CEO, said, "We expect TeamViewer to continue to benefit from global megatrends and the demand for our connectivity and workflow solutions in 2023, despite ongoing macroeconomic
uncertainties... We have also reaffirmed our capital allocation strategy, which targets a sustainable leverage ratio of approximately 1.5x net debt to adjusted EBITDA on a billings basis, with a new share buyback of up to EUR 150 million. ..We look forward to a successful 2023..."
In fiscal 2022, earnings before interest and tax or EBIT grew 22 percent from last year to 143.7 million euros, and earnings per share climbed 46 percent to 0.37 euro. Adjusted (Revenue) EBITDA margin was 41 percent, down 1 percentage point, while revenue of 565.9 million euros grew 13 percent.
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