have been placed with investors, consisting of 60,000,000 Base Shares and 15,000,000 Additional Base Shares in full exercise of the Upsize-Option. In total, 75,000,000 ordinary bearer shares with no par value from the holdings of the Existing Shareholder Tiger LuxOne S.à r.l. On September 25, 2019, TeamViewer AG started its trading on the regulated market segment of the Frankfurt Stock Exchange (Prime Standard). We are therefore well on track to deliver on our full-year guidance." Stefan Gaiser, CFO of TeamViewer, said: "The strong billings and Cash EBITDA growth in the third quarter underpins our confidence in our 2019 targets. The traction of our strategic growth initiatives is reflected in our billings growth, and our subscription based Software as a Service business model results in very good earnings growth." Oliver Steil, CEO of TeamViewer, said: "Our first results as a listed company underscore TeamViewer's strong financial profile combining high growth with high profitability. Growth was mainly driven by a strong increase in subscriptions resulting from key strategic initiatives, including the successful Enterprise product roll-out. In this period, Cash EBITDA grew by 54% to EUR 120 million (9M 2018: EUR 78 million) resulting in an improved Cash EBITDA margin of 53% (9M 2018: 50%). Billings increased by 45% year-over-year to EUR 224 million (9M 2018: EUR 155 million). TeamViewer AG continued its profitable growth during the first nine months of fiscal year 2019. Further deleveraging and lower net debt due to strong Cash EBITDA growth.
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