TeamViewer Expecting Increased Growth in 2021

German based software company TeamViewer AG (ETR: TMV) is projecting increased growth rates in the 2021 financial year. The company is expecting its business to grow by up to 30% in 2021 in relation to what the company registered last year.

Citing financials published by the company in January, last year the company recorded a profit of 460 million euros denoting a 44% increase in growth. The company is now forecasting to record profit of around 585 to 605 million euros ($707-$731 million) in 2021.

The company established over a decade ago went public on September 2019 and since getting listed it has been making strategic acquisitions and introducing new products to its portfolio which has seen it maintain a steady growth rate.

We will expand our solution scope across more verticals, grow our global enterprise footprint and increase use cases for Augmented Reality and Internet of Things broadly,” said the company’s CEO Oliver Steil.

Continued stay at home orders across Europe made the company register increased billings by 32% in the fourth quarter of 2020 at constant currency to 128 million euros.

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