TeamViewer, based in Goeppingen, southwest Germany, forecast billings growth of 29-33% this year at constant currency, while adjusted core profit margin would be between 55% and 57% - touching last year's outturn at the top end of its guidance. Enterprise billings trebled last year but still accounted for just 12% of the total.įourth-quarter billings grew by 32% at constant currency to 128 million euros, with growth moderating as a demand surge arising from the shift to home working during the coronavirus pandemic ebbed. It is focusing on building up its enterprise customer base, where it landed Siemens Healthineers (SHLG.DE) as a client in the fourth quarter. TeamViewer operates a so-called "freemium" model that is free to individual users but charges a subscription fee once it becomes clear its service is being used in a commercial setting. "We are confident of continuing to grow at a rate of 30%," Steil said in an interview, saying he was on the lookout for further takeover opportunities.īillings are forecast in a range of 585-605 million euros ($707-$731 million) after growing by 44% last year to 460 million euros, the company said, confirming preliminary results published in January.
Its shares have doubled since it floated in 2019, and the company did two takeovers last year to add new features to its product range.ĬEO Oliver Steil told Reuters he wanted to expand into areas such as augmented reality and smart devices connected to the so-called internet of things, as TeamViewer seeks to strengthen its global presence. TeamViewer provides "anytime, anywhere" technology to control applications remotely.
BERLIN, Feb 9 (Reuters) - German software company TeamViewer (TMV.DE) forecast its business would grow by up to a third this year while profit margins would hold firm, as the remote connectivity specialist reported a strong end to 2020.
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