Germany's TeamViewer sets medium-term targets after 1E acquisition (updated)

TeamViewer SE

12/02/2025 12:07

(Adds CEO comments, share move, graphic, details on enterprise
business revenue in Q4)
    By Amir  Orusov
       Feb 12 (Reuters) - German software developer TeamViewer
 TMV.DE  laid out its medium-term revenue growth targets on
Wednesday after it completed its acquisition of IT firm 1E,
sending its shares around 5% up.
    TeamViewer forecast revenue in 2028 to be between 1.03
billion and 1.06 billion euros ($1.07-$1.10 billion) with an
adjusted EBITDA margin forecast of 44% to 45%.
    The company generated revenue of 671 million euros in the
fiscal year 2024, while the adjusted EBITDA margin stood at 44%.
    Shares of TeamViewer were 5.2% higher by 1046 GMT.
    TeamViewer made a strategic acquisition of London-based IT
firm 1E for $720 million in December.
    Shares in TeamViewer were volatile over the last two months,
falling by more than 20% after the acquisition announcement,
followed by a gradual recovery on stronger-than-expected
preliminary full-year results.
     
    While stock market reaction on the news was initially not
good, 1E comes with major blue-chip customers and a focus on the
U.S. market, expanding TeamViewer's global footprint, CEO Oliver
Steil told Reuters.
    "It is never very cheap to make an acquisition, but it's
important to develop strategically," Steil said, adding that the
combined entity sees good medium and long-term synergy
potential.
    The enterprise business, which accounts for about 23% of
total revenue, has been growing in significance for TeamViewer.
    In the fourth quarter of 2024, its revenue rose 37% to 45.5
million euros from 33.3 million a year ago. The growth was
largely seasonal as most of the enterprise business occurs
towards the year's end, Steil said.
    On the U.S. market, he noted slightly improved sentiment
among the company's customers and partners following the
presidential election there. Prior to the election, TeamViewer
had experienced uncertainty and slower purchasing from its
customers. 
    The Americas region contributes about 35% of the company's
total revenue.
    
    ($1 = 0.9653 euros)

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Stock performance of German Teamviewer (TMV.DE) and German
mid-cap index MDAX shown in percentage from December 6, 2024 to
February 7, 2025    https://reut.rs/4jUsRmv
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 (Reporting by Amir Orusov, additional reporting by Anastasiia
Kozlova; Editing by Christian Schmollinger and Emelia
Sithole-Matarise)
 ((Amir.orusov@thomsonreuters.com))