TeamViewer AG: TeamViewer to Become New Principal Shirt Partner of Manchester United Football Club
GOPPINGEN, GERMANY - EQS Newswire - 19 March 2021- TeamViewer has signed a five-year agreement to become Manchester United's new principal shirt partner. With this agreement as well as additional strategic global marketing partnerships, TeamViewer invests significantly in its global brand positioning. This will accelerate the marketing of the broadened use case portfolio and thereby drive sustainable sales growth across all regions and customer segments. The collaboration will leverage TeamViewer's recent acquisitions in adjacent areas and will be a key pillar to grow stronger for longer.
The TeamViewer brand logo will feature on the front of the most iconic and best-selling club shirt, for both the men's and women's teams. In addition to comprehensive branding rights, the partnership encompasses projects across the entire Manchester United franchise including process digitalization with IoT and Augmented Reality applications, data analytics and immersive fan experiences.
Manchester United is one of the most popular and successful sports teams winning 66 trophies through its 143-year football heritage and has built an active global community of 1.1 billion fans and followers.
Due to the resulting significant increase in marketing expenditure, TeamViewer revises its adjusted EBITDA margin guidance for the fiscal year 2021 to 49 - 51% of billings and projects the adjusted EBITDA margin to remain around 50% over the medium term.
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.