TeamViewer Sees Higher Revenues, Stable Margin In FY23

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
With a view to celebrate college basketball season, Domino's Pizza Inc. is offering customers 50% off all menu-priced pizzas ordered online today through March 26. The weeklong 50% off online deal is available on menu-priced pizzas ordered through Domino's online ordering channels. The U.S. Food and Drug Administration has denied marketing of two Vuse Solo brand menthol e-cigarette products currently marketed by R.J. Reynolds Vapor Co. The agency said the company must not market or distribute these unauthorized products in the U.S. or they risk FDA enforcement action. Foot Locker, Inc. reported Monday sharply lower profit in its fourth quarter with slight drop in net sales, even as comparable sales increased. Further, the specialty athletic retailer announced dividend, and issued fiscal 2023 forecast, well below last year. However, over the long term, the company projects growth. Foot Locker further announced that it is transforming its business model in Asia.
Follow RTT