TeamViewer AG TeamViewer to enter landmark partnership

TIDM0A36

TeamViewer AG

30 March 2021

 
      TeamViewer AG / Key word(s): Alliance 
       TeamViewer AG: TeamViewer to enter landmark partnership with Mercedes-AMG Petronas F1 Team 
       and Mercedes-EQ Formula E Team 
 
       30.03.2021 
       The issuer is solely responsible for the content of this announcement. 
 
       TeamViewer to enter landmark partnership with Mercedes-AMG Petronas F1 Team and Mercedes-EQ 
       Formula E Team 
        *    Five-year partnership as key pillar of TeamViewer's 
             strategy to build a truly global tech brand 
 
 
        *    TeamViewer to transfer use cases from the racetrack 
             to the industrial environment of customers 
 
 
        *    Investment in Mercedes F1 and FE partnership fully 
             reflected in recently updated adjusted EBITDA margin 
             guidance for 2021 
 
 
        *    Partnerships with #1 sports to accelerate global 
             enterprise and personal user expansion 
 
 
        *    Landmark sport sponsorships to foster billings growth 
             rates after 2023, while maintaining best in class 
             profitability 
 
 
       Goppingen, 30 March 2021: The Mercedes-AMG Petronas Formula One Team and Mercedes-EQ Formula 
       E Team are proud and delighted to jointly announce the leading global software company TeamViewer 
       as a new official partner. TeamViewer will provide the teams with remote connectivity solutions 
       and further cutting-edge technology to drive greater performance over the next five years. 
       The software company breaks new ground as the first brand to agree a new partnership with 
       Mercedes in Formula One and Formula E, including prominent branding on both cars and the drivers' 
       racing suits. As the only manufacturer competing in both series, Mercedes is uniquely positioned 
       to deliver this partnership. 
       TeamViewer will be joining a high-tech ecosystem that is engineering the future of mobility 
       in the world's fastest development laboratory, thanks to advanced performance hybrid solutions 
       in Formula One and battery electric technology in Formula E, which will find their ways into 
       future passenger vehicles. The demanding remote operating conditions, as well as the data-driven 
       nature of each racing series, will prove use cases that can be translated from the racetrack 
       to the industrial environment for TeamViewer's customers. 
       TeamViewer software will make the Mercedes teams more efficient, with optimized remote operations 
       and enhanced connectivity between team processes trackside and back at base, notably in terms 
       of race support during testing and racing. TeamViewer will furthermore play an important role 
       in motorsport's journey towards net zero emissions, by enabling people and companies to effectively 
       monitor systems remotely. By enabling remote working and IoT solutions across multiple sites, 
       TeamViewer technology can deliver further reductions of the carbon footprint of the racing 
       teams, each of which achieved the FIA's 3* Environmental Accreditation standard last year. 
       Today's announcement also provides a sneak preview of the branding that will appear on the 
       Mercedes race cars in Formula One and Formula E, as well as on the driver overalls and teamwear, 
       from the respective Monaco races in each series - the Monaco E-Prix will be held on 8th May, 
       with the Grand Prix de Monaco following two weeks later, on 23rd May. 
       Broadcast in more than 170 territories around the world and with more than 500 million global 
       fans, Formula One is the world's most popular annual sporting platform and reaches an annual 
       cumulative audience of over 1.5 billion. Alongside the global pinnacle of motorsport, Formula 
       E is growing a new and distinctive audience for its unique city racing format, and together 
       the two series will support TeamViewer's ambition to become a truly global tech brand through 
       races in 25 countries across six continents. 
       "We are thrilled to announce this new partnership with TeamViewer," said Toto Wolff, CEO and 
       Team Principal of the Mercedes-AMG Petronas F1 Team and Head of Mercedes-Benz Motorsport. 
       "Motorsport is a proven catalyst for technology and business development, and we are excited 
       to work together on both fronts over the coming years. It is a dynamic and ambitious brand, 
       and a perfect fit for the pioneering spirit of Mercedes-Benz in motorsport. By working together 
       across F1 and FE, we can drive gains in technology performance, and we will help optimize 
       remote operations for many companies across the globe. In addition to our own ambitions in 
       terms of sustainability, we are convinced that the growth of companies like TeamViewer will 
       make a meaningful difference to CO(2) emissions on a much greater scale. I'm excited to welcome 
       them to the team - and looking forward to seeing their brand enter the global stage with our 
       Monaco races in May." 
       Oliver Steil, CEO of TeamViewer: "We are very proud to become an official partner of Mercedes-Benz, 
       one of the most iconic brands in motorsport. TeamViewer and Mercedes share the same values 
       of performance, innovation, and engineering. This partnership is a key pillar in our strategy 
       to build a truly global tech brand, while creating new opportunities to transfer use cases 
       from the fastest-moving and most data-driven sports into the industrial environment of our 
       customers. We are excited to provide the Mercedes Formula One and Formula E teams with our 
       leading connectivity solutions for remote diagnostics and collaboration - making them faster, 
       more efficient, and more sustainable. Joining forces with the most successful teams in motorsport 
       underpins our strategy to grow stronger for longer and generates additional value for our 
       customers, employees and shareholders." 
       The Mercedes-Benz and the already announced Manchester United partnerships form a key pillar 
       of TeamViewer's marketing strategy to invest in its brand equity globally and accelerate the 
       enterprise customer and personal user expansion in key growth markets. The company expects 
       both sports partnerships to foster growth after 2023 when it expects EUR 1 billion in billings, 
       leading to extra billings of around EUR 150 million in 2025, while retaining best in class 
       profitability levels. The investment in the Mercedes F1 and FE teams is already reflected 
       in the recently updated adjusted EBITDA margin guidance of 49-51% of billings for 2021. All 
       strategic marketing activities have no impact on other growth initiatives including investments 
       in sales and R&D as well as further tuck-in acquisitions. 
       For more information on the partnership please have a look at: http://www.teamviewer.com/en/sponsorship/mercedes/ 
       If you would like to know more about the marketing strategy of TeamViewer, please visit: http://www.teamviewer.com/en/sponsorship/ 
 
       ### 
 
 
       About TeamViewer 
       TeamViewer is a leading global technology company that provides a connectivity platform to 
       remotely access, control, manage, monitor, and repair devices of any kind - from laptops and 
       mobile phones to industrial machines and robots. Although TeamViewer is free of charge for 
       private use, it has more than 550,000 subscribers and enables companies of all sizes and from 
       all industries to digitalize their business-critical processes through seamless connectivity. 
       Against the backdrop of global megatrends like device proliferation, automation and new work, 
       TeamViewer proactively shapes digital transformation and continuously innovates in the fields 
       of Augmented Reality, Internet of Things or Artificial Intelligence. Since the company's foundation 
       in 2005, TeamViewer's software has been installed on more than 2.5 billion devices around 
       the world. The company is headquartered in Goppingen, Germany, and employs more than 1,300 
       people globally. In 2020, TeamViewer achieved billings of EUR 460m. TeamViewer AG (TMV) is 
       listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found 
       at www.teamviewer.com . 
 
       About Mercedes-AMG Petronas Formula One Team 
       The Mercedes-AMG Petronas F1 Team is the works Formula One Team of Mercedes-Benz, competing 
       in the FIA Formula One(TM) World Championship - the pinnacle of world motorsport and the largest 
       annual sporting series in the world. Based at two world-class technology campuses in the UK, 
       the team designs, develops, manufactures and races the race cars and Hybrid Power Units driven 
       by seven-time World Champion Lewis Hamilton and race-winning team-mate Valtteri Bottas. Formula 
       One is a uniquely demanding technical and human challenge, requiring the right alchemy of 
       cutting-edge technologies, high-performance management and elite teamwork to deliver results 
       at 23 Grands Prix around the globe in a race season running from March to December. The Mercedes-AMG 
       Petronas F1 team set new benchmarks for F1(TM) success on its way to winning the Constructors' 
       and Drivers' World Championships in 2014, 2015, 2016, 2017, 2018, 2019 and 2020. During those 
       seven Championship-winning seasons, the team scored 100 wins, 200 podiums, 107 pole positions, 
       70 fastest laps and 53 one-two finishes from 134 race starts. 
 
       About Mercedes EQ Formula E Team 
       Motorsport has been a core element of Mercedes-Benz for more than 125 years. The first vehicle 
       to bear the Mercedes-Benz name was a racing car. In 2019, Mercedes-Benz added a new chapter 
       in its long and 

       successful motorsport history: For the first time, two electric racing cars from the new 
       Mercedes-EQ Formula E Team are entering the racetrack. The ABB FIA Formula E World Championship 
       is the ideal platform to demonstrate the performance of the Mercedes-EQ battery-powered electric 
       vehicles, offering a completely new kind of experience, which combines racing with a unique 
       event character. The team celebrated the first ever fully-electric race win for Mercedes-Benz 
       and ended their debut season in Formula E in third place in the team championship. The Mercedes-EQ 
       Formula E team benefits from the brand's many years of experience in motorsport and its technical 
       know-how throughout the entire Mercedes-Benz Motorsport-Family. By competing in two racing 
       series - Formula 1 and Formula E - in parallel, Mercedes transfer the lessons from both to 
       its road vehicle development. The two platforms combined will constitute a major technology 
       driver for the entire Mercedes-Benz family and help to shape the future of the automobile. 
 
       ContactPress Contact TeamViewer             Investor Relations Contact TeamViewer 
        Martina Dier                         Carsten Keller 
        Director, Communications             Head of Investor Relations and Capital Markets 
        Phone: [phone]          Phone: [phone] 
        E-Mail: [e-mail]         E-Mail: [e-mail] 
       Press Contact Mercedes 
        Bradley Lord 
        Motorsport Communications Director 
        Phone: [phone] 
        E-Mail: [e-mail] 
 
 
       IMPORTANT NOTICE 
       Certain statements in this communication may constitute forward looking statements. These 
       statements are based on assumptions that are believed to be reasonable at the time they are 
       made, and are subject to significant risks and uncertainties, including, but not limited to, 
       those risks and uncertainties described in TeamViewer's disclosures. You should not rely on 
       these forward-looking statements as predictions of future events and we undertake no obligation 
       to update or revise these statements. Our actual results may differ materially and adversely 
       from any forward-looking statements discussed in these statements due to several factors, 
       including without limitation, risks from macroeconomic developments, external fraud, lack 
       of innovation capabilities, inadequate data security and changes in competition levels. 
       Alternative performance measures (APMs) 
       This document contains certain alternative performance measures (collectively, "APMs") including 
       billings and Adjusted EBITDA that are not required by, or presented in accordance with, IFRS, 
       German GAAP or any other generally accepted accounting principles. TeamViewer presents APMs 
       because they are used by management in monitoring, evaluating and managing its business and 
       management believes these measures provide an enhanced understanding of TeamViewer's underlying 
       results and related trends. The definitions of the APMs may not be comparable to other similarly 
       titled measures of other companies and have limitations as analytical tools and should, therefore, 
       not be considered in isolation or as a substitute for analysis of TeamViewer's operating results 
       as reported under IFRS or German GAAP. APMs such as billings and Adjusted EBITDA are not measurements 
       of TeamViewer's performance or liquidity under IFRS or German GAAP and should not be considered 
       as alternatives to results for the period or any other performance measures derived in accordance 
       with IFRS, German GAAP or any other generally accepted accounting principles or as alternatives 
       to cash flow from operating, investing or financing activities. 
       TeamViewer has defined each of the following APMs as follows: 
       "Billings" represent the (net) value of goods and services invoiced to customers in a given 
       period whose realization is probable - it is defined as revenue adjusted for change in deferred 
       revenue P&L-effective; "Adjusted EBITDA" means EBITDA, adjusted for P&L-effective changes 
       in deferred revenue as well as for certain special items relating to share based compensations 
       and other material items that are not reflective of the operating performance of the business; 
       "Adjusted EBITDA margin" means Adjusted EBITDA as a percentage of billings. 
 
 
       30.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group 
       AG. 
       The issuer is solely responsible for the content of this announcement. 
 
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Language:      English 
Company:       TeamViewer AG 
               Bahnhofsplatz 2 
               73033 Göppingen 
               Germany 
Phone:         [phone] 
Fax:           [phone] 
E-mail:        [e-mail] 
Internet:      www.teamviewer.com 
ISIN:          DE000A2YN900 
WKN:           A2YN90 
Indices:       MDAX, TecDAX 
Listed:        Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
                Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:   1179467 
 
 
 
 
 
 
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March 30, 2021 02:03 ET (06:03 GMT)