"The environment was not helpful"

CEO Oliver Steil

"Teamviewer is a fast growing, profitable company."

(Photo: TeamViewer)

Dusseldorf The euphoria did not last long: Teamviewer was the largest IPO of an IT company since the dotcom boom in September – but the rating collapsed soon after. After the first publication of quarterly figures, CEO Oliver Steil looks back.

Mr. Steil, what is your first statement after the IPO?
This was a milestone we celebrated extensively. After that, it quickly went over to the agenda. That may sound dry, but our employees were well aware that we had communicated clear goals to investors. And there we are on a very good way.

The private equity firm Permira is still the largest shareholder – has anything changed at all?
Absolutely. The Supervisory Board now has two members who are independent of Permira, and the issues there are also different. For example, governance takes up much more space because a listed company is ultimately managed differently than a portfolio company of a private equity firm.

The share price has only dropped significantly. What do you tell the investors?
The environment of the IPO six weeks ago was certainly not helpful. We had headwinds from the markets – there had been a lot of movement in the software industry the days before. But it depends on the fundamentals, and Teamviewer is a fast-growing, profitable company.

There are concerns that Permira is putting price pressure on sales.
It is basically the business of the shareholders, what they do with their shares. With the large portion of Permira in our company, it is in the investor's interest to keep the price stable. In that sense, one can take away the concerns of the shareholders. In addition, there is a so-called lock-up period of about six months since the IPO, within which Permira does not sell any further shares.

Teamviewer is a candidate for SDax and MDax. How important is the listing in one of the indices?
For us it is important in the first step that we bring our performance, which is hopefully reflected in the stock price development. The next natural step would be inclusion in such an index as a sign of quality and also of normalcy – we have the necessary free float and a certain amount of liquidity.

More: Following the IPO in September, the company's stock has come under pressure. Teamviewer boss Oliver Steil announces strong growth.

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