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
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
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/
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: +49 (0)7161 97200 10 Phone: +49 (0)151 1941 7780
E-Mail: email@example.com E-Mail: firstname.lastname@example.org
Press Contact Mercedes
Motorsport Communications Director
Phone: +44 7785 682893
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.
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Company: TeamViewer AG
Phone: +49 7161 97200 81
Fax: +49 7161 60692 335
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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(END) Dow Jones Newswires
March 30, 2021 02:03 ET (06:03 GMT)
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