GÖPPINGEN (dpa-AFX) - Software provider Teamviewer grew as expected in the first quarter and benefited from less steeply rising costs. The remote maintenance specialist's sales rose 13 percent to 151.3 million euros, the MDax-listed company announced Wednesday. Adjusted for special effects and before interest, taxes, depreciation and amortization, earnings increased by 18 percent to 64.1 million euros. Among other things, there were not as high bad debt losses as a year earlier. The corresponding margin increased by 2 percentage points to 42 percent. Thanks in part to an improved financial result, Teamviewer posted a bottom-line profit of 23.1 million euros, about 58 percent more than a year earlier.

In business with key accounts, Teamviewer continued to feel the effects of customers' reluctance to buy in the Americas region in light of the economic environment. While sales to major customers grew strongly, new business declined slightly. However, Teamviewer expects a recovery here. In contrast, Teamviewer was able to increase new business with smaller and medium-sized customers. In its core business with remote maintenance, the Goeppingen-based company also wants to create more growth with a new version of its main product by making more offerings available on a single software platform.

The management around CEO Oliver Steil confirmed the outlook for the year. "While it is still very early in the year, we are confident that we will achieve our annual forecast," said Chief Financial Officer Michael Wilkens. Teamviewer is planning revenue growth of between 10 and 14 percent to between 620 and 645 million euros. The adjusted operating margin (Ebitda) is expected to be around 40 percent of sales, two percentage points higher than a year earlier./men/he