TMVWF - TeamViewer SE (TMVWF) Q4 2023 Earnings Call Transcript
2024-02-07 17:12:06 ET
TeamViewer SE (TMVWF)
Q4 2023 Results Conference Call
February 07, 2024 03:00 AM ET
Company Participants
Bisera Grubesic - IR
Oliver Steil - CEO
Michael Wilkens - CFO
Conference Call Participants
Gustav Froberg - Berenberg
Deepshikha Agarwal - Goldman Sachs
George Webb - Morgan Stanley
Toby Ogg - JPMorgan
Gianmarco Conti - Deutsche Bank
Presentation
Bisera Grubesic
Good morning, everyone, and welcome to TeamViewer's Preliminary Q4 and Full Year 2023 Earnings Call. My name is Bisera Grubesic, and I have joined TeamViewer as Vice President of Investor Relations only last week, so at the beginning of February. And I would like to take this opportunity to emphasize that I am looking forward to engaging with all of you present in today's call, of course, but also further strengthening TeamViewer's relationship with our investors and analysts. I am sitting next to our CEO, Oliver and CFO Michael who both will update you on our business and financial performance 2023, and will also provide you with the outlook for 2024. And as always, the presentation will be concluded by a Q&A session. Now, a note on some important notice. Please note that you can find the important notice and the APM disclosure on Slides 2 and 3.
And with that, I hand it over to Oliver to kick off the presentation.
Oliver Steil
Thank you. Welcome, Bisera. Very glad to have you on board. Good morning, ladies and gentlemen. Warm welcome to our preliminary Q4 full year 2023 earnings call. Let's jump straight into our highlights on Slide 5. Overall, we are concluding a very successful year with strong momentum in Q4. We achieved results at and above our targets. And furthermore, we once again proved the strength of TeamViewer's business model with its broad diversification across customer segments, use cases and geographies. Let me start with a look at the 2023 financial year. Our revenues saw double-digit growth with 11% year-over-year to €627 million, and adjusted EBITDA grew even stronger by 13%, and this resulted in an EBITDA margin of 42%, which exceeded our guidance. On the back of our continued share buybacks, we were able to significantly increase our basic EPS by 81% year-over-year. Looking at the fourth quarter, our billings exceeded the already very strong prior year quarter, with an increase of 8% on constant currency. This strong momentum in Q4 gives confidence in our ability to perform and execute in a back-end loaded Enterprise software environment....
TeamViewer SE (TMVWF) Q4 2023 Earnings Call Transcript