Slide 1: Preliminary Q4/FY 2023 Results
‘4 & TeamViewer 4 Preliminary Q4/FY 2023 Results Analyst / Investor Presentation
Slide 2: Important Notice / APMs
Important Notice / APMs This presentation as well as any information communicated in connection therewith (the "Presentation") contains information regarding TeamViewer SE (the "“Company") and its subsidiaries (the Company, together with its subsidiaries, "TeamViewer"). It is provided for informatio
Slide 3: Important Notice / APMs (continued)
Important Notice / APMs (continued) * Billings represent the value (net) of goods and services invoiced to customers within a specific period and which constitute a contract as defined by IFRS 45. + Retained Billings means recurring Billings (renewals, up- & cross sell) attributable to retained subs
Slide 4: Business Overview
Business Overview Oliver Steil (CEO)
Slide 5: A successful 2023 with strong momentum in Q4
A successful 2023 with strong momentum in Q4 Preliminary Q4 / FY 2023 Highlights @ il FY 2023 with double-digit Q4 2023 outperformed strong Strong ENT Billings Revenue growth(+11%), previous year’s quarter with momentum (+23% cc) inQ4 further margin improvement 8% cc Billings growth on back of succe
Slide 6: Highest growth in highest value buckets
Highest growth in highest value buckets SMB Billings by ACV Bucket (LTM) Enterprise Billings by ACV Bucket (LTM) (mLTw) Mic 1500- 10,000 Cm) Mi >€200,000 Mlc500-<1,500 HI >100,000 502.8 Mc <500 141.9 I >€50,000 132.0 HM © 10,000-50,000 Net upsell from SMB to Enterprise: €16.7mLTM 000 6 FY 2022 FY 20
Slide 7: AMERICAS reorganization on track with double-digit Billings growth in Q4
AMERICAS reorganization on track with double- digit Billings growth in Q4 EMEA Q4 2023 Revenue: €86.8m (+11%) Billings: €115.2m (+6% | +6% cc) AMS Q4 2023 Revenue: €58.1m (+6%) Billings: €68.2m (+7% | +12% cc) FY 2023 Revenue: €332.4m (+10%) Billings: €368.9m (+8% | +9% cc) APAC Q4 2023 Revenue: €18
Slide 8: ENT deal flow proving strength of product platform
AMERICAS EMEA APAC é Enterprise Engineering European Fortune Global 500 multinational Tensor to remotely access & troubleshoot OT devices Engineering Global leading lab equipment manufacturer Access machinery in semiconductor factories Telecommunications Leading national telco provider Remote B2C cu
Slide 9: Large Enterprise deals across regions
Large Enterprise deals across regions: Siemens & leading aerospace company &TeamViewer « SIEMENS + Closed groundbreaking deal with our partner Siemens Digital Industries in December 2023 + We provide a holistic interactive 3D user experience toa leading global aerospace company, making complex engin
Slide 10: TeamViewer Spatial Support on Apple Vision Pro
TeamViewer Spatial Support on Apple Vision Pro + Real-time remote assistance app for new headset Apple Vision Pro already available at launch day in US Apple Vision Pro + Spatial computing and 3D visualization combined with ffeie SD modelsand { : AR-based remote support Fareed ‘ { Salant ueathend, +
Slide 11: Financial Overview
Financial Overview Michael Wilkens (CFO)
Slide 12: Double-digit revenue growth & further margin increase
Double-digit revenue growth & further margin increase ; o . _ Topline KPIs FY 2023 Profitability / cash FY 2023 ° (yoy) (yoy) a rs = a a +7%/+9% cc Margin +ipp \ isn 4Corresponds to€632.1m Revenue and €689.8 Billings based on guidance FX rate 1.05 EUR/USD. Adjusted EBITDA TeamViewer | Preliminary Q4
Slide 13: Growth (yoy) Growth (yoy cc)
180 90% 40% 160 80% 140 70% 30% 120 60% 20% 100 50% 80 40% 10% 60 30% 40 20% 0% 20 10% 100 -10% 0 0% 70% 200 60% 50% 40% 100 30% 20% 10% 0% 0 -10% Growth (yoy) Growth (yoy cc)
Slide 14: 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 20% 15% 10%
20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 80 0% 20% 15% 10% 5% 70 0%
Slide 15: ENT with strong Billings and customer base growth
ENT with strong Billings and customer base growth Quarterly ENT Revenue and Growth Rates ENT ASP? ENT Customers (€m; %) (€k, LTM) (eop) 4,164 305 333 122.4 3956 4034 28.0 28.9 20.4 36 35 34334 3666 377 133% 30% 2504 +24% 22% 49%] FY 2023 Q42022 Q1.2023 922023 Q32023 Q42023 42022 22023 42023 42022 Q2
Slide 16: Operating leverage and continued investments
Operating leverage and continued investments €m (all adjusted non-IFRS figures) Q42023 Q42022 A% | FY2023 FY 2022 A% Billings 2008 190.6 5%| 678.0 6348 1% Change in deferred Revenues (37.7) (40.4) 6%| (51.3) (68.9) _—_—-26% Revenue 163.1 150.5 8%] 626.7 565.9 11% Total costs in FY 2023 grew by 9% Co
Slide 17: 13% Adj. EBITDA & 81% EPS growth
13% Adj. EBITDA & 81% EPS growth €m Q42023 Q42022 A% Adjusted EBITDA 62.4 57.3 9% 260.5 229.8 13% Adjustments for non-recurringtitems (7.3) 58 N/A (38.6) (32.4) 19% EBITDA 55.0 63.1 -13% 221.9 197.5 12% D&A (43.5) (43.6) -1% (55.4) (53.7) 3% Operating Profit (EBIT) 415 49.5 -16% 166.6 143.7 16% Fina
Slide 18: Around €244m pre-tax FCFE with 94% cash conversion
Around €244m pre-tax FCFE with 94% cash conversion €m Q42023 Q42022 A% | FY2023 FY 2022 A FY 2023 FCFE at 16% growth Pre-tax net cash from operating activities (IFRS) 78.8 92.4 -15% | 275.5 250.8 10% supported by one-off tax effects of Capital expenditure (excl. M&A) (40) (20) -49% | (56) (88) -37%
Slide 19: Significant shareholder return and debt repayment
Significant shareholder return and debt repayment (€m) Share buybacks Equnaients “Flows” Buyback repayment Interest incliaa SMM Equant Lisoitioe Labites + Share Buyback 2023 completed in two tranches; total of 9,993,893 shares /€ 150m volume repurchased 31Dec22 aiDec23 31 Decz3, 2299 (161.9) + Share
Slide 20: Outlook
Outlook Michael Wilkens (CFO)
Slide 21: Guidance FY2024
Guidance FY2024 EUR 660 to 685m? (corresponds to ca. +7-11% cc yoy) Revenue (IFRS) Adjusted EBITDA Margin at least 43% 4 Based on the average FX rates of 2023 TeamViewer | Preliminary Q4 / FY 2 + Topline expectations reflect continued high levels of customer demand despite a challenging macro; addit
Slide 22: Commitment to efficient capital allocation
Commitment to efficient capital allocation Strong FCFE generation (€ m) Capital Allocation Framework FCFE FY 2023 supported by EUR 6m tax repayment; Continued shareholder value creation through adjusted for this, FCFE FY 2024 is expected to grow in + Immediate shareholder return with continued line
Slide 23: A successful 2023 with strong momentum in Q4
A successful 2023 with strong momentum in Q4 Preliminary Q4 / FY 2023 Highlights @ il FY 2023 with double-digit Q4 2023 outperformed strong Strong ENT Billings Revenue growth(+11%), previous year’s quarter with momentum (+23% cc) inQ4 further margin improvement 8% cc Billings growth on back of succe
Slide 24: cy
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Slide 25: Appendix
Appendix
Slide 26: Overview sales KPIs
Overview sales KPls Q SMB Billings p.q.in€m 148.6 122.8 1219 142.8 147.3 117.9 109.3 128.3 124.4 Billings LTMin€m 536.0 534.7 529.9 517.3 502.8 479.8 469.5 459.6 454.6 Number of subscribers* 627,362 622,188 629,302 627,436 622,410 615,650 615,531 607,834 614,262 ASP (LTM) in€ 852 857 840 822 804 773
Slide 27: Q4 2023: Reconciliation management metrics to IFRS
Q4 2023: Reconciliation management metrics to IFRS Accounting Management view Change in Management view Other non-IFRS view adjusted P&L1 deferredrevenue2 Revenue adj. P&L adjustments IFRS P&L. Billings / Revenue 200.8 (37.7) 163.1 163.1 Cost of sales (43.4) (13.4) (8.7) (0.4) (22.2) Gross profit co
Slide 28: FY 2023: Reconciliation management metrics to IFRS
FY 2023: Reconciliation management metrics to IFRS Accounting Management view Change in Management view Other non-IFRS view adjusted P&L1 deferredrevenue2 Revenue adj. P&L adjustments IFRS P&L. Billings / Revenue 678.0 (51.3) 626.7 626.7 Cost of sales (46.5) (46.5) (34.2) (4.0) (81.7) Gross profit c
Slide 29: Non-IFRS adjustments in EBITDA
Non-IFRS adjustments in EBITDA €m Q4 2023 Q4 2022 FY 2023 FY 2022 Total IFRS 2 charges (7.2) (8.1) (23.7) (28.4) IFRS2 charges lower in Q4 due to: TeamViewer LTIP 0.4 (0.3) (0.9) (0.7) o Decreasing M&A-related vesting RSU G7) (19) (155) (42) and extended TLO vesting period... M&A related share-based
Slide 30: Tax Rates
Tax Rates Actual Tax Expense + Actual Tax Expense 2023 with decrease EUR 15.6m due to lower non- €m FY 2023 FY 202. deductible expenses and prior years IFRS EBT 147,455 146,689 26% tax income; equals 32% actual tax ” ” expense decrease instead of Theoretical TV group Tax Rate 28,6% 28,6% Opp theoret
Slide 31: 210,000,000 200,000,000 190,000,000 180,000,000 170,000,000 160,000,000 150,000,000
210,000,000 200,000,000 190,000,000 180,000,000 170,000,000 160,000,000 150,000,000
Slide 32: Top of the industry ESG profile
Top of the industry ESG profile Repeatedly strong rating results + Morningstar Sustainalytics ranks TeamViewer ist in its subindustry as of 2 Feb 2024 + Risk Score of 8.6 indicating negligible ESG risk + Leading amongst >1,000 ranked companies + MSCI renewed its AAA rating in January ranking us in t
Slide 33: Financial Statements
Financial Statements
Slide 34: Profit & Loss Statement
Profit & Loss Statement € thousand Q42023 Q4.2022 A% FY 2023 FY 2022 Revenue 163,114 150,507 8% 626,689 565,874 11% Cost of sales (22,163) (20,896) 6% (81,743) (81,298) 1% Gross profit 140,951 129,611 9% 544,946 484,577 12% Research and development (21,752) (49,343) 12% (80,138) (69,538) 15% Marketi
Slide 35: Balance Sheet - Assets
Balance Sheet - Assets € thousand 31 December 2023 31 December 202: Non-current assets Goodwill 667,662 667,929 Intangible assets 175,736 212,864 Property, plant and equipment 43,264 50,265 Financial assets 27,280 18,537 Other assets 19,530 11,922 Deferred tax assets 18,596 2,126 Total non-current a
Slide 36: Balance Sheet - Liabilities
Balance Sheet - Liabilities € thousand 31 December 2023 Equity Issued capital 174,000 186,516 Capital reserve 105,234 236,849 Accumulated losses (95,188) (209,203) Hedge reserve 929 (4,620) Foreign currency translation reserve 41,614 3,003 Treasury share reserve (402,929) (100,263) Total equity attr
Slide 37: Cash Flow Statement
Cash Flow Statement € thousand Q4 2023 Q4 2022 LA% FY 2023 FY 2022 LA% Profit before tax 36,505 45,650 -20% 147,455 116,689 26% Depreciation, amortisation and impairment of non-current assets 13,528 13,638 -1% 55,358 53,744 3% Increase/(decrease) in provisions (761) (4,291) 41% 349 7,285 -95% Non-op
Slide 38: Cash Flow Statement (cont'd)
Cash Flow Statement (cont’d) € thousand Q4 2023 Q4 2022 A% FY 2023 FY 2022 A% Repayments of borrowings ie) ie) n/a (100,000) (470,376) -79% Proceeds from borrowings ie) ie) n/a ie) 184,323 -100% Payments for the capital element of lease liabilities (5,914) (3,204) 85% (44,079) (9,464) 17% Interest p
Slide 39: Financial Calendar
© TeamViewer e e ° ® . ° * e ° ° . e ° e e Financial Calendar . Annual Report 2023 14 March 2024 Q1 2024 Earnings & Analyst Call 7 May 2024 Annual General Meeting 7 June 2024 Q2 2024 Earnings & Analyst Call 34 July 2024 Q3 2024 Earnings & Analyst Call 6 November 2024