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TeamViewer and E.ON are confident about the full year

Home office work is booming in the corona crisis. The Swabian software company TeamViewer is a beneficiary of this trend, which is growing strongly in terms of sales and earnings and is screwing up its full-year outlook. In contrast, E.ON’s profit increased slightly in the first quarter. However, CEO Teyssen expects that the annual targets previously issued can be achieved.

The most important things about TeamViewer and E.ON in advance:

  • TeamViewer raises annual sales forecast
  • At E.ON, subsidiary Innogy is driving business

The German software developer TeamViewer benefits from the trend towards home office in times of the corona virus pandemic. In the first quarter, the company posted a record turnover and a leap in earnings. The outlook for the year as a whole was then raised. The company listed in the TecDAX® technology index achieved a 75 percent increase in sales in the first three months of the current year. The proceeds climbed to a record high of almost 120 million euros. The operating result (EBITDA) almost doubled to almost 74 million euros. TeamViewer is therefore in a positive mood for the year as a whole. So far, the company has targeted sales in the range of 430 million to 440 million euros. Now the bar is a little higher: 450 million euros are the new goal for 2020.

Products on TeamViewer AG

The coronavirus pandemic, however, does not leave E.ON without a trace. Nevertheless, the energy supplier sees itself on course over the year. Group CEO Johannes Teyssen is confident: “From today’s perspective, we also consider our business to be resilient with regard to the corona pandemic,” emphasizes Teyssen. At the moment, it is expected that the ranges envisaged for adjusted operating profit and consolidated net income will still be achievable. E.ON is targeting a profit of between 3.9 and 4.1 billion euros for profit and a adjusted profit of between 1.7 and 1.9 billion euros. In the past first quarter, the DAX® group increased its consolidated profit slightly to 691 million euros. Sales had grown from EUR 9.1 billion to EUR 17.7 billion thanks to the new subsidiary Innogy. “Only the last three weeks of the first quarter were affected by lockdown measures in our markets,” explains E.ON boss Teyssen.

Products on E.ON.

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Source: HSBC

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