Slide 1: Q3 2020 Investor Presentation
Q3 2020 Investor Presentation 10 November 2020
Slide 2: Importance Notice
Importance Notice This presentation as well as any information communicated in connection therewith (the "Presentation") contains information regarding TeamViewer AG (the "Company") and its subsidiaries (the Company, together with its subsidiaries, "TeamViewer"). It is being provided for information
Slide 3: Business Overview
Mastertitelformat bearbeiten Business Overview Oliver Steil
Slide 4: Q3: Strong Performance And First Acquisition Since IPO
Q3: Strong Performance And First Acquisition Since IPO Financial Performance Further Highlights ▪ Very good and balanced contribution from all growth Q3 9M initiatives +29% yoy1 +48% yoy Billings ▪ Overachieved growth targets set at IPO +34% cc2 +50% cc ▪ Ubimax acquisition closed and integration pr
Slide 5: Growing Enterprise Subscriber Base With Rising Deal Sizes
Growing Enterprise Subscriber Base With Rising Deal Sizes… Subscribers With Annual Contract Value Above €10k (LTM) 1 Top 50 Deals Accumulated Contract Value LTM (€m) 2 +181% +174% 1,658 7.7 +144 57 Ubimax 1.3 Ubimax 6.4 1,601 1,457 6.3 +72 5.5 1,183 3.4 698 2.7 2.8 518 590 30. Jun 19 30. Sep 19 31.
Slide 6: Driven By Strong Momentum In Strategic Solutions Sales
…Driven By Strong Momentum In Strategic Solutions Sales Selection of Q3 Transactions Sector Country ACV in € License Use Cases Logistics USA >100k Frontline Vision picking with smart glasses for hands-free and paperless processes Industrials USA >100k Frontline AR worker guidance for manufacturing,
Slide 7: Ubimax Integration Progressing Very Well
Ubimax Integration Progressing Very Well Business impact starting to materialize Signing Closing Capital Increase Legal Merger ~ End of Today ~ Q3 2021 (15 Jul) (21 Aug) (16 Sep) (Dec) Q1 2021 Phase 1: Joint Marketing ✓ Frontline added to TeamViewer solutions suite Phase 2: Joint Go-To-Market ✓ Fron
Slide 8: Over-Delivered The IPO Growth Plan - Ready For More
Over-Delivered The IPO Growth Plan - Ready For More Mastertitelformat bearbeiten Customer Segment Geographic Use Case Expansion / Expansion Expansion New Products 567k / +31% +46% +429% Subscribers1 USA Billings1 Tensor Billings1 1,658 / +181% +126% +468% Enterprise Customers2 Japan Billings1 Pilot
Slide 9: Financial Overview
Financial Overview Stefan Gaiser
Slide 10: Delivering Strong Growth and High Profitability
Delivering Strong Growth and High Profitability… Billings (€m)1 Adj. EBITDA (€m) & Margin2 +29% +26% +34% cc +34% cc 106.4 58.2 82.7 46.0 55.6% 54.7% 55.6% Q3 2019 Q3 2020 Q3 2019 Q3 2020 +48% +58% +50% cc 332.1 +61% cc 189.3 224.3 119.6 57.0% 53.3% 53.3% 9M 2019 9M 2020 9M 2019 9M 2020 1) Including
Slide 11: With Growing Subscriber Base And Continuously High NRR
…With Growing Subscriber Base And Continuously High NRR Subscribers (thousand, LTM) Billings By Category (€m, LTM) Net Retention Rate • Continued growth of new subscribers • Growing contribution from new license sales • 104% (LTM, 30 September 2020) • Successful migration of long tail of perpetual o
Slide 12: Expanded Global Coverage Resulting in Well Balanced Growth
Expanded Global Coverage Resulting in Well Balanced Growth AMERICAS Billings (€m) EMEA Billings (€m) APAC Billings (€m) • Strong mid-market and Enterprise • Very good contribution from Inside Sales • Significant growth acceleration in key business and Resellers countries across all sales channels •
Slide 13: Strong Business Model Drives Superior Margins
Strong Business Model Drives Superior Margins… Future growth supported by investments across all functions €m Q3 20 Q3 19 ∆ 9M 20 9M 19 ∆ Billings 106.4 82.7 +29% 332.1 224.3 +48% • Q3 Cost of Sales up as anticipated and reflecting Cost of Sales (9.4) (6.3) (26.3) (17.3) investments in platform infr
Slide 14: Translating Into High Operating And Levered Free Cash Flow
…Translating Into High Operating And Levered Free Cash Flow €m Q3 20 Q3 19 ∆ 9M 20 9M 19 ∆ Pre-Tax Net Cash from 57.4 36.0 +60% 185.1 98.9 +87% Operating Activities (IFRS) • 9M 2020 pre-tax net cash from operating activates Income Tax Paid (7.0) (5.0) +41% (24.7) (15.2) +62% up 87% • One-off capital
Slide 15: Ubimax Cash Consideration Funded With Operating Cash Flow
Ubimax Cash Consideration Funded With Operating Cash Flow Gross debt reduced and net leverage at 2.0x Development Cash & Cash Equivalents Net Financial Debt and Net Leverage Development €m €m Cash & Cash Equiv. Loan Facilities IFRS 16 Leases Net Financial Debt (7.7) Net Leverage Capex 19.8 Loan Faci
Slide 16: Sustainability Commitment Reflected In Sector Leading ESG Ratings
Sustainability Commitment Reflected In Sector Leading ESG Ratings Connectivity and digitalization solutions for a more sustainable world Carbon Neutral Operations since 2018 by GHG scope 1 & 2 emissions offset Handprint Net Positive Assessment under way Quantifying the positive contribution of TeamV
Slide 17: Raising FY 2020 Billings Guidance
Raising FY 2020 Billings Guidance Excluding Ubimax €450 – 455m Billings (previously around €450m) at least €450m Revenue (unchanged) around 56% Adj. EBITDA Margin (unchanged) €25 – 30m Capital Expenditure (unchanged) 17 Q3 2020 Investor Presentation
Slide 18: Appendix
Mastertitelformat bearbeiten Appendix
Slide 19: Q3 2020 Reconciliation From Management Key Metrics To IFRS
Q3 2020 Reconciliation From Management Key Metrics To IFRS Management View Deferred Other non-IFRS Accounting View €m Adjusted P&L Revenue D&A Adjustments IFRS P&L Billings / Revenue 106.4 10.7 117.2 Cost Of Sales (9.4) / (8.8% of Billings) (6.8) (0.2) (16.4) / (14.0% of Revenue) Gross Profit Contri
Slide 20: 9M 2020 Reconciliation From Management Key Metrics To IFRS
9M 2020 Reconciliation From Management Key Metrics To IFRS Management View Deferred Other non-IFRS Accounting View €m Adjusted P&L Revenue D&A Adjustments IFRS P&L Billings / Revenue 332.1 2.5 334.6 Cost Of Sales (26.3) / (7.9% of Billings) (19.9) (0.4) (46.6) / (13.9% of Revenue) Gross Profit Contr
Slide 21: Non-IFRS Adjustments in EBITDA
Non-IFRS Adjustments in EBITDA Deferred Revenue Adjustments (€m) Other non-IFRS Adjustments (€m) Q3 20 Q3 19 9M 20 9M 19 Q3 20 Q3 19 9M 20 9M 19 Billings 106.5 82.7 332.1 224.3 Total IFRS 2 Charges (13.8) (26.2) (34.2) (27.1) TeamViewer LTIP (0.6) - (1.0 - Perpetual Def. Revenue 9.2 31.3 39.7 95.8 R
Slide 22: Deferred Revenue Development
Deferred Revenue Development Q3 20 Q3 19 9M 20 9M 19 Perpetual Deferred Revenue (BoP) 18.3 108.8 48.9 173.4 (–) Release 9.1 31.5 39.7 96.9 (+) Addition (0.0) (0.1) 0.0 1.1 Perpetual Deferred Revenue (EoP) 9.2 77.6 9.2 77.6 Subscription Deferred Revenue (BoP) 201.3 131.1 164.0 107.3 (–) Release 109.3
Slide 23: Profit & Loss Statement
Profit & Loss Statement (unaudited) in EUR thousands Q3 2020 Q3 2019 ∆% 9M 2020 9M 2019 ∆% Revenue 117,197 102,021 15% 334,644 283,257 18% Cost of sales (16,352) (12,646) 29% (46,637) (36,418) 28% Gross profit 100,845 89,374 13% 288,006 246,839 17% Other income 1,504 7,843 -81% 2,025 15,856 -87% Res
Slide 24: Balance Sheet
Balance Sheet (unaudited) in EUR thousands 30 September 2020 31 December 2019 Non-current assets Goodwill 647,117 590,445 Intangible assets 261,889 235,831 Property, plant and equipment 36,353 26,480 Financial assets 5,258 4,424 Other assets 864 1,740 Deferred tax assets 0 6,266 Total non-current as
Slide 25: Balance Sheet (cont'd)
Balance Sheet (cont’d) (unaudited) in EUR thousands 30 September 2020 31 December 2019 Equity Issued capital 200,000 200,000 Capital reserve 353,854 320,661 (Accumulated losses)/retained earnings (355,793) (429,881) Hedge reserve (76) 0 Foreign currency translation reserve 428 1,081 Total equity att
Slide 26: Cash Flow Statement
Cash Flow Statement (unaudited) in EUR thousands Q3 2020 Q3 2019 9M 2020 9M 2019 Cash flows from operating activities Profit before taxation 54,437 (20,682) 124,130 49,070 Depreciation, amortisation and impairment of non-current assets 10,319 9,190 29,641 27,096 (Gain)/loss from the sale of property
Slide 27: Cash Flow Statement (cont'd)
Cash Flow Statement (cont’d) (unaudited) in EUR thousands Q3 2020 Q3 2019 9M 2020 9M 2019 Cash flows from financing activities Repayments of borrowings (38,987) (126,651) (38,987) (179,113) Proceeds from bank borrowings 0 74,017 0 74,017 Payments for the capital element of lease (1,602) (1,470) (3,3
Slide 28: Disclaimer
Disclaimer The use by TeamViewer AG of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of TeamViewer AG by MSCI. MSCI Services and data ar