TeamViewer AG : 2% FX headwind expected in 2024e; billings and adj. EBITDA expectations slightly lowered
>We reduce our billings and adj. EBITDA expectations by -1.9% and -2.0% respectively - Following the release of the annual report, we have updated our model and assumptions accordingly and reduce our billings expectations by -1.9% for 2024e to € 711.4m implying y-o-y growth of 4.9%. Our forecast assumes a 2% FX headwind, based on average FX rates in 2023, hence we expect billings to grow by 6.9% at constant currencies. We furthermore expect revenue to increase by +7....Teamviewer AG. TeamViewer AG is a Germany-based company engaged in the software development. The Company focuses primarily on the cloud-based technologies that enable online remote support and collaboration globally. The Company offers software solutions to remotely access and connect any computer, tablet, laptop, mobile device and Internet of Things (IoT) endpoint, such us industrial machines to allow remote control, management and monitoring of devices, as well as interaction and collaboration. Its product portfolio includes TeamViewer, TeamViewer Tensor, TeamViewer Pilot, TeamViewer loT, TeamViewer Remote Management, servicecamp and Bizz. The Company has offices in Europe, the United States and Asia Pacific.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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