SHARE IN FOCUS: Teamviewer can regain some investor confidence
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FRANKFURT (dpa-AFX) – A solid final quarter for the software provider Teamviewer
The company from Göppingen closed the year 2021, which was dominated by severe setbacks, with a slightly positive grade. Thanks to cost savings in the final quarter, Teamviewer earned a little more operationally than last promised. The profitability in relation to the invoiced sales (billings) was slightly higher than last estimated.
“Fourth quarter growth should satisfy investors,” JPMorgan’s Stacy Pollard wrote in an initial assessment. The currency-adjusted growth of Billings is well above market expectations. “For a thorough recovery, however, investors will want to see a similar development consistently in the coming quarters.”
After several unexpectedly weak quarters in the fall, management harshly cut the growth prospects – not only for 2021, but also for the medium term. That had caused the share price to crash because the costs for the already heavily criticized expensive sports sponsorship at the English football club Manchester United and the Mercedes Formula 1 team, but also the expenses for the increased workforce, suddenly contrasted with drastically lower expected revenues.
The company plans to present details of the annual figures and an updated outlook on investment and capital planning on February 2nd. With a view to the latter, analyst Hannes Leitner from the bank UBS does not rule out capital repayments to the shareholders. These could amount to 100 to 200 million euros. The expert justifies this assumption with a significantly lower debt ratio of the company at the end of 2022. JPMorgan analyst Pollard also wrote of “possible share buybacks” ./ got / men / mis
HSBC Trinkaus & Burkhardt AG
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