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    TMV   DE000A2YN900

TEAMVIEWER AG

(TMV)
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PRESS RELEASE: TeamViewer AG: Q1 2021 - -3-

05/04/2021 | 12:47am EDT

Consolidated Profit & Loss Statement

EUR thousand                                        Q1 2021     Q1 2020 
Revenue                                           118,330     102,717 
Cost of sales                                     (18,380)    (14,067) 
Gross profit                                      99,950      88,650 
Sales                                             (24,625)    (15,705) 
Marketing                                         (12,994)    (8,691) 
Research and development                          (13,814)    (9,473) 
General and administrative                        (13,676)    (12,829) 
Bad debt expenses                                 (4,495)     (5,157) 
Other income                                      1,494       453 
Other expenses                                    (3,078)     (137) 
Operating profit                                  28,761      37,111 
Finance income                                    403         40 
Finance cost                                      (5,248)     (8,130) 
Foreign exchange income                           4,738       5,697 
Foreign exchange costs                            (18,718)    (13,253) 
Profit before taxation                            9,936       21,465 
Income taxes                                      (6,690)     (9,339) 
Profit/(loss) for the period                      3,246       12,126 
 
Basic number of shares issued and outstanding     200,000,000 200,000,000 
Earnings per share (in EUR per share)               0.02        0.06 
Diluted number of shares issued and outstanding   200,380,918 200,000,000 
Diluted earnings per share (in EUR per share)       0.02        0.06 

Consolidated Balance Sheet

EUR thousand                         31 March 2021 31 December 2020 
Non-current assets 
Goodwill                           665,076       646,793 
Intangible assets                  268,074       255,330 
Property, plant and equipment      43,329        40,469 
Financial assets                   4,516         4,516 
Other assets                       966           857 
Deferred tax assets                159           159 
Total non-current assets           982,119       948,124 
Current assets 
Trade receivables                  18,055        19,667 
Other assets                       33,107        7,594 
Tax assets                         52            52 
Financial assets                   1,443         4,456 
Cash and cash equivalents          437,330       83,531 
Total current assets               489,987       115,301 
Total assets                       1,472,106     1,063,425 

Consolidated Balance Sheet (continued)

EUR thousand                                            31 March 2021 31 December 2020 
Equity 
Issued capital                                        201,071       201,071 
Capital reserve                                       381,012       366,898 
(Accumulated losses)/retained earnings                (323,608)     (326,854) 
Hedge reserve                                         (48)          (61) 
Foreign currency translation reserve                  320           (343) 
Total equity attributable to owners of the parent     258,748       240,711 
Non-current liabilities 
Provisions                                            400           433 
Financial liabilities                                 857,317       440,153 
Deferred revenue                                      267           361 
Deferred and other liabilities                        2,576         1,614 
Other financial liabilities                           13,354        0 
Deferred tax liabilities                              27,926        29,186 
Total non-current liabilities                         901,839       471,747 
Current liabilities 
Provisions                                            3,475         2,225 
Financial liabilities                                 31,755        82,099 
Trade payables                                        7,889         8,304 
Deferred revenue                                      227,968       214,811 
Deferred and other liabilities                        35,593        39,120 
Other financial liabilities                           2,891         29 
Tax liabilities                                       1,948         4,378 
Total current liabilities                             311,519       350,966 
Total liabilities                                     1,213,359     822,714 
Total equity and liabilities                          1,472,106     1,063,425 

Consolidated Cash Flow Statement

EUR thousand                                                                    Q1 2021  Q1 2020 
Cash flows from operating activities 
Profit before taxation                                                        9,936    21,465 
Depreciation, amortisation and impairment of non-current assets               11,937   9,613 
(Gain)/loss from the sale of property, plant and equipment                    (0)      3 
Increase/(decrease) in provisions                                             1,217    (978) 
Non-operational foreign exchange (gains)/ 
losses                                                                        15,306   6,689 
Expenses for share-based compensation - equity settled                        14,115   10,133 
Net financial costs                                                           4,845    8,091 
Change in deferred revenue                                                    13,062   4,123 
Changes in other net working capital and other                                (23,851) 3,682 
Income tax paid                                                               (12,586) (8,104) 
Net cash from operating activities                                            33,981   54,717 
Cash flows from investing activities 
Capital expenditure for property, plant and equipment and intangible assets   (3,859)  (5,155) 
Proceeds from the sale of property, plant and equipment                       (0)      0 
Payments for the acquisition of non-current financial assets                  0        (51) 
Acquisition of subsidiaries                                                   (19,097) 0 
Net cash used in investing activities                                         (22,956) (5,205) 

Consolidated Cash Flow Statement (continued)

EUR thousand                                          Q1 2021  Q1 2020 
Cash flows from financing activities 
Repayments of borrowings                            (52,730) 0 
Proceeds from bank borrowings                       400,000  0 
Payments for the capital element of lease 
liabilities                                         (1,107)  (967) 
Interest paid for borrowings and lease 
liabilities                                         (3,975)  (13,349) 
Net cash used in financing activities               342,188  (14,316) 
 
Net change in cash and cash equivalents             353,213  35,195 
Net foreign exchange rate difference                1,516    453 
Net change from cash risk provisioning              (930)    (972) 
Cash and cash equivalents at beginning of period    83,531   71,153 
Cash and cash equivalents at end of period          437,330  105,829 ----------------------------------------------------------------------------------------------------------------------- 

2021-05-04 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      TeamViewer AG 
              Bahnhofsplatz 2 
              73033 Göppingen 
              Germany 
Phone:        +49 7161 97200 81 
Fax:          +49 7161 60692 335 
E-mail:       ir@teamviewer.com 
Internet:     www.teamviewer.com 
ISIN:         DE000A2YN900 
WKN:          A2YN90 
Indices:      MDAX, TecDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1191975 
 
End of News   DGAP News Service 
=------------ 

1191975 2021-05-04

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1191975&application_name=news 
 

(END) Dow Jones Newswires

May 04, 2021 00:46 ET (04:46 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.06% 34382.13 Delayed Quote.9.74%
EXCHANGE INCOME CORPORATION 3.32% 39.8 Delayed Quote.5.13%
MDAX 1.41% 32141.17 Delayed Quote.4.37%
TEAMVIEWER AG 1.44% 30.95 Delayed Quote.-29.39%
TECDAX 1.32% 3327.8 Delayed Quote.3.58%
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Financials
Sales 2021 539 M 655 M 655 M
Net income 2021 88,5 M 108 M 108 M
Net Debt 2021 262 M 318 M 318 M
P/E ratio 2021 71,1x
Yield 2021 -
Capitalization 6 223 M 7 553 M 7 558 M
EV / Sales 2021 12,0x
EV / Sales 2022 9,02x
Nbr of Employees 1 378
Free-Float 72,1%
Chart TEAMVIEWER AG
Duration : Period :
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Technical analysis trends TEAMVIEWER AG
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 50,55 €
Last Close Price 30,95 €
Spread / Highest target 129%
Spread / Average Target 63,3%
Spread / Lowest Target 26,0%
EPS Revisions
Managers and Directors
NameTitle
Oliver Steil Chairman-Executive Board & CEO
Stefan Markus Gaiser Chief Financial Officer
Abraham Peled Chairman-Supervisory Board
Mike Eissele Chief Technology Officer
Karl Markgraf Chief Operations Officer
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