Now that the major shareholder Permira has exited the company, I am taking advantage of the further weakness in the share price to buy.
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Discussion about TMV
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112
3Wk·
Dates week 37
As every Sunday, the most important news from the past week, as well as the dates for the coming week.
Also as a video:
https://youtube.com/shorts/x9vYOOc15VQ?si=zlusDmb_2RJtmPA5
Monday:
For the Göppingen-based software group $TMV (+0.63%) Teamviewer is taking the elevator
upwards today. The reason is an upgrade by Bank of America. The new short target is still 60% short.
Tuesday:
The inflation rate in the eurozone was above expectations, dampening the mood somewhat. Instead of 2.0%, the inflation rate compared to the same month last year was 2.1
For a long time, bond yields were thought to be set in stone and the MM theory gained more and more fans. Now bond yields are showing that sentiment can theoretically tilt quickly. Poor inflation data and a bad budget situation, as well as more debt, are a toxic mix. Germany is again paying a yield of 3.41% on 30-year government bonds. The highest in 14 years.
In the UK, however, things are looking much worse. Among other things, the possible resignation of the finance minister is fueling the situation there. 30-year government bonds there are already trading at 5.58 %. It is also clear that if other countries have to pay such yields, this will also drive up yields in France or Germany.
However, UBS currently believes that a turnaround in the UK is already possible. The budget situation is so tight that taxes will probably have to be increased. This should improve the budget situation and could calm the situation.
US court rules that the break-up of Alphabet is off the table. Chrome and Android do not have to be sold. However, Google may no longer enter into exclusive agreements with individual manufacturers in future.
https://www.tagesschau.de/wirtschaft/unternehmen/google-monopol-urteil-100.html
Wednesday:
At the beginning of the week, the upgrade by Bank of America, and in the middle of the week TigerLuxOne Holding, which belongs to the PE fund Permira, sells 7% of the $TMV (+0.63%) TeamViewer shares, sending the share price down again. Is this a warning signal? In our view, only to a very limited extent. The holding company in question sells 7% of TeamViewer shares every two years. PE does not buy and hold. The remaining 7% were also sold elsewhere.
Friday:
$BNTX (+0.36%) BionTech seems to be making progress in terms of portfolio expansion. The company has now been able to present successful study results for the treatment of breast cancer and the share price has risen significantly.
Poor data from the US labor market could increase the chance of an interest rate cut in the USA. Instead of the expected 75,000 jobs, only 22,000 jobs were created. The unemployment rate rose slightly to 4.3%. As the Fed is measured not only by price stability but also by the labor market figures, a rate cut could come soon.
These are the most important dates for the coming week:
Wednesday: 14:30 Producer prices (USA)
Thursday: 14:15 Key interest rate (ECB)
Thursday: 14:30 Inflation data (USA)
Can you think of any other dates? Write it in the comments
77
2Mon·
Dates week 32
As every Sunday, the most important news from the past week, as well as the most important dates for the coming week.
Also as a video:
https://youtube.com/shorts/j7wxXDJyQu8?si=PrSmNA8VWLxzXRsw
Sunday:
The tariff deal stands, 15% on everything except steel, aluminum & drugs. For steel & aluminum, the tariff remains at 50%. There will probably be an announcement on medicines soon. However, this only affects imports from the EU to the USA. This is good news for car manufacturers, where tariffs have been halved. The EU is also to invest 600 billion dollars in the USA and buy energy for 750 billion dollars. According to von der Leyen, 50% tariffs will probably no longer apply to aluminum and steel, and there will also be an upper limit for medicines; for some goods there will no longer be any tariffs at all:
Tuesday:
Teamviewer $TMV (+0.63%) records 5% growth to 191 million euros in sales in Q2 and exceeds expectations with an operating margin of 44%. Lower marketing costs in particular are paying off here.
Heidelberger Druck $HBGRY is entering the defense business, the company wants to gain access to the billions invested in defense spending by the state and also establish a new pillar outside its core business.
Wednesday:
$KGX (-1.23%) Kion surprises positively in terms of order volume. The Frankfurt-based logistics group sells forklift trucks, supply chain solutions and warehouse technology. Turnover fell by 6% to 2.7 billion euros in the 2nd quarter. Profit rose by more than 30% to 94 million euros. Incoming orders also rose by more than 30% to 3.5 billion euros.
As expected, the German economy shrank slightly by 0.1% in the 2nd quarter. This is also due to the pull-forward effects of the US tariffs in the 1st quarter, where there was surprising growth of 0.4%. Let's hope that Kion's order figures are a good harbinger for the rest of the year.
The US economy had the opposite effect, with the trade balance improving in Q2 as a result of exports being brought forward, which is partly responsible for the surprisingly strong growth of 2.4% (annualized = extrapolated for the year). There was still a decline in GDP in Q1.
In the evening, the Fed announced that interest rates would unsurprisingly be kept at their current level.
Thursday:
The Bank of Japan also leaves interest rates unchanged at 0.5%. However, it plans to raise interest rates in the future if prices and the economy develop as forecast. In view of Japan's national debt, however, the BoJ's room for maneuver in raising interest rates is limited.
Friday:
The markets start the weekend on a much lighter note, with a poor labor market report from the USA in particular dampening sentiment. In July, around 30,000 fewer jobs were created than expected. Even worse, the jobs created in the two previous months were revised downwards by 258,000.
https://finanzmarktwelt.de/us-arbeitsmarktdaten-juli-359225/?amp
These are the most important dates for the coming week:
Tuesday: 16:00 ISM Purchasing Managers' Index (USA)
Thursday: 13:00 Interest rate decision (UK)
Friday: 16:00 Inflation expectations (USA)
Can you think of any other dates? Write it in the comments
#ism
#einkaufsmanagerindex
#boe
#leitzins
#usa
#inflationserwartung
33
2Mon·
Teamviewer Q2
Teamviewer $TMV (+0.63%) recorded 5% growth to 191 million euros in sales in Q2 and exceeded expectations with an operating margin of 44%. Lower marketing costs in particular are paying off here.
33
3 Comments2Mon
About time for some momentum in the share price haha😍
•
11
•2Mon·
Dates week 28
As every Sunday, the most important news from the past week, as well as the most important dates for the coming week.
Also as a video:
https://youtube.com/shorts/P7B_mXvAg-c?si=CNpKK-zfBeTMD-sW
Monday:
China continues to struggle with economic problems. Above all, weak domestic demand and the trade conflicts are weighing on industrial production. The Purchasing Managers' Index remains below 50 at 49.7 points, with values above 50 signaling growth.
Inflation in Germany surprisingly falls to 2% in June. This puts inflation exactly on target for the ECB. In May, the inflation rate was still at 2.1%.
Tuesday:
In June, inflation in the eurozone rose slightly to 2.0%, which is right on target for the ECB.
https://www.tagesschau.de/wirtschaft/konjunktur/inflation-eurozone-anstieg-100.html
Thursday:
$TMV (+0.63%) Teamviewer is currently still valued at a P/E ratio of 11. This is an extraordinary valuation for a software company that also offers AI solutions. Analysts see upside potential of 50% and more. The Handelsblatt has now dedicated an article to the topic and explains it primarily with the slump in growth after Corona.
The US labor market is proving more robust than expected. 147,00 new jobs were created. Economists had only expected job growth of 110,000 outside the agricultural sector.
These are the most important dates for the coming week:
Monday: 11:00 Retail Sales (EUR)
Wednesday: 20:00 FOMC Minutes (USA)
Friday: 14:30 Current account balance (DE)
11
4Mon·
06.05.2025
Redcare Pharmacy returns to profit + Barclays lowers Porsche AG to 'Equal Weight + Zalando starts positively and attracts more customers + Evotec starts the year with a decline in sales + Teamviewer confirms annual targets despite difficult environment
Redcare Pharmacy $RDC (-0.32%)returns to the profit zone operationally as expected
- The online pharmacy Redcare Pharmacy (Shop Apotheke) has made a profitable start to the current year despite investments in growth with e-prescriptions in Germany.
- Unlike in the fourth quarter, the company achieved an operating profit in the first three months.
- Earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for special effects, rose by 14 million euros to 9 million euros compared to the previous quarter, the MDax-listed company announced in Sevenum on Tuesday.
- Experts surveyed by Bloomberg had expected an operating profit at this level.
- Compared to the same quarter of the previous year, Redcare Pharmacy earned slightly less operationally.
- As already known, turnover increased by 28 percent to 717 million euros compared to the same quarter of the previous year.
- The online pharmacy also confirmed its 2025 forecast and its medium to long-term targets.
Barclays lowers Porsche AG $P911 (+0.25%)to 'Equal Weight'; target at 42.50 euros
- The British investment bank Barclays has lowered its target price for Porsche AG shares from 62.50 to 42.50 euros and consequently downgraded the shares from "Overweight" to "Equal Weight".
- According to analyst Henning Cosman's reassessment of the Zuffenhausen-based company on Monday evening, he is returning to the sidelines.
- Both demand and restructuring are weaker than expected, he wrote with a view to the quarterly results.
- His estimates up to 2027 are 5 to 10 percent below the new consensus, according to his own statement.
- He believes the valuation of the shares is still too high.
Zalando $ZAL (-1.36%)gets off to a positive start and attracts more customers
- The online retailer Zalando has started the new financial year with growth.
- The company benefited from a good end-of-season sale, a positive start to the new spring/summer season and its bonus program.
- The number of active customers reached a new high, Zalando announced in Berlin on Tuesday.
- Sales rose by 7.9 percent to 2.4 billion euros in the first quarter.
- The gross merchandise volume increased by 6.5 percent to 3.5 billion euros.
- Adjusted earnings before interest and taxes (EBIT) improved from 28.3 million to 46.7 million euros.
- The figures were in line with analysts' expectations.
- Zalando confirmed its forecast for the current year, despite the uncertain environment.
Evotec $EVT (+2.04%)starts the year with a decline in sales - targets confirmed
- The pharmaceutical drug researcher and developer Evotec has recorded a weaker start to the year.
- Revenues fell by four percent year-on-year to 200 million euros, as the company announced on Tuesday.
- Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell by around 60 percent to EUR 3.1 million due to higher selling and administrative expenses.
- On balance, the loss widened from just under 21 million to around 32 million euros. The targets for 2025 were reaffirmed.
- Evotec only recently announced that it would be realigning its focus.
- In future, the company intends to focus on high-value services and therapeutic areas and reduce its project portfolio by around 30 percent.
- The company intends to withdraw from investments and focus on the two pillars of drug discovery & preclinical development and the Just - Evotec Biologics division.
- In addition to the current cost program, the MDax-listed company plans to save more than EUR 50 million by 2028.
Teamviewer $TMV (+0.63%)confirms annual targets despite difficult environment
- Software provider Teamviewer is maintaining its outlook for the year following revenue growth in the first quarter.
- "We are seeing continued high demand for our solutions - despite the very volatile global market environment," said Teamviewer CEO Oliver Steil on Tuesday, according to a press release.
- In the first quarter, the MDax company's reported turnover rose by 11 percent to 178.8 million euros.
- At the bottom line, the net result climbed by a third to 29.6 million euros.
- This was mainly due to falling marketing costs after the sponsorship agreement with English soccer club Manchester United was significantly reduced from the middle of last year.
- The takeover of 1E, which was completed at the end of January, also contributed to the growth in turnover, with the company reporting that its integration is proceeding according to plan.
- There was strong growth in the area of large corporate customers (enterprise segment). Teamviewer confirmed its targets for the year.
- In the annual outlook, the company includes the acquisition "pro forma" for comparison purposes as if it had been part of the Group since January 1, 2024.
- Accordingly, pro forma turnover is expected to increase by a further 5.1 to 7.7 percent to between 778 and 797 million euros.
- The operating profit margin adjusted for one-off effects (adjusted EBITDA) is expected to be around 43%.
- Based on this calculation, Teamviewer achieved an operating margin of 43 percent in the first quarter.
Tuesday: Stock market dates, economic data, quarterly figures
Stock market holiday in Japan and South Korea
- ex-dividend of individual stocks
- Anheuser-Busch InBev EUR 1.00
- Verbund 2.80 EUR
- Quarterly figures / company dates USA / Asia
- 13:00 Marriott International quarterly figures
- 16:00 Bristol Myers Squibb quarterly figures | General Electric AGM
- 18:00 Intel AGM
- 22:15 AMD | Coty quarterly figures
- No time specified: Electronic Arts | The Mosaic Quarterly figures
- Quarterly figures / Company dates Europe
- 07:00 Redcare Pharmacy | Kontron | Evotec | Fresenius Medical Care | Kontron
- 07:00 Evotec | Rational | Teamviewer | Zalando | Axa | Royal Philips
- 07:10 Elmos Semiconductor | Norma Group quarterly figures
- 07:30 Continental | Hugo Boss | Koenig & Bauer | Uniper
- 07:30 Raiffeisen Bank International | Scout24 Quarterly figures
- 08:00 MTU Aero Engines | Vestas Wind Quarterly figures
- 09:00 KSB SE & Co. KGaA, 1Q results | Teamviewer analyst conference | Hugo Boss PK
- 09:30 MTU Aero Engines PK
- 10:00 Deutsche Lufthansa | Nordex AGM
- 11:00 Redcare Pharmacy Conference Call | Hugo Boss Analyst Conference | MTU Aero Engines Analyst Conference
- 12:00 Intesa Sanpaolo quarterly figures
- 12:30 Continental Analyst Conference
- 14:00 Ferrari quarterly figures | Evotec conference call | Fresenius Medical Care analyst conference call
- 15:00 Rational Conference Call | Scou24 Analyst Conference
- Untimed: Amadeus Fire quarterly figures
- Economic data
08:00 DE: Turnover in the service sector February
08:45 FR: Industrial production March FORECAST: +0.2% yoy previous: +0.7% yoy
09:45 IT: Purchasing Managers' Index/PMI non-manufacturing April PROGNOSE: 51.3 previous: 52.0
09:50 FR: Purchasing Managers' Index/PMI non-manufacturing (2nd release) April PROGNOSE: 46.8 1st release: 46.8 PREV: 47.9 Total Purchasing Managers' Index (2nd release) PROGNOSE: 47.3 1st release: 47.3 PREV: 48.0
09:55 DE: Purchasing Managers' Index/PMI non-manufacturing (2nd release) April FORECAST: 48.8 1st release: 48.8 PREV: 50.9 Total Purchasing Managers' Index (2nd release) FORECAST: 49.7 1st release: 49.7 PREV: 51.3
10:00 EU: Purchasing Managers' Index/PMI non-manufacturing Eurozone (2nd release) April FORECAST: 49.7 1st release: 49.7 Previous: 51.0 Total Purchasing Managers' Index (2nd release) FORECAST: 50.1 1st release: 50.1 Previous: 50.9
10:30 UK: Purchasing Managers' Index/PMI non-manufacturing (2nd release) April FORECAST: 48.9 1st release: 48.9 Previous: 52.5
11:00 EU: Producer Prices March Eurozone OUTLOOK: -1.0% yoy/+2.7% yoy previous: +0.2% yoy/+3.0% yoy
Without time data:
- PO: Annual meeting of the ECB
- US: US President Trump receives Canada's Prime Minister Carney
88
5Mon·
Subsequent purchase Teamviewer
We have also struck at Teamviewer. The software company from Göppingen is hardly directly affected by the tariffs, but is nevertheless being punished on the stock market.
In a multiple comparison with other software groups, we believe that TeamViewer is fundamentally undervalued. We have therefore increased our position in the company and taken advantage of the current correction.
TeamViewer is the global market leader for remote desktop applications. However, contrary to what US analysts regularly confuse, it is not a direct competitor of $MSFT (+0.3%) Teams or $ZM (-0.32%)
TeamViewer is used more for the remote control of machines or cash register systems. The share of sales generated by large corporations is also growing year on year.
What do you think of the purchase?
6Mon·
Dates week 12
As every Sunday, the most important news from the past week, as well as the dates for the coming week.
Also as a video:
https://youtube.com/shorts/cpIdQFYiLeY?si=gaKXoxc1Q7c_VbNC
Sunday:
Due to industrial overcapacity, deflation is depressing prices in China. Prices there fell by an average of 0.7% compared to the same month last year. The reason for the decline was probably a high basis for comparison from the previous year, as well as government programs to boost consumption.
Monday:
$HFG (-0.9%) Hellofresh shocks the markets with a sales warning, down more than 10%. Analysts at JP Morgan continue to see the price target at 15 euros. This is because EBITDA is expected to rise again. Hellofresh is dispensing with expensive marketing campaigns, which hurts sales but may increase profits.
Tuesday:
$VOW3 (-0.5%) Volkswagen is struggling with a drop in sales and profits. Overall, 2.3% fewer vehicles were sold. Sales for 2024 increased minimally by one percent to 324.7 billion euros. Profit fell from 17.8 to 12.3 billion euros.
Wednesday:
$P911 (+0.25%) Porsche earns significantly less. Similar to VW, profits are down by around 30%. The dividend is to remain stable. Turnover is also expected to stagnate in 2025.
Not only is Rheinmetall's share price rising $RHM (+0.29%) Rheinmetall is rising, sales are also increasing significantly. Rheinmetall could grow by 34% in 2024. Growth of 25-30% is also expected for 2025. Rheinmetall achieved sales of just under 10 billion euros in 2024. The order backlog grew to 55 billion euros. The dividend is set to rise from 5.70 to 8.10 euros per share.
$TMV (+0.63%) Teamviewer is celebrating its 20th anniversary, which means the tech company from Göppingen has been around longer than the average lifespan of a German company (around 12 years). Click here for a summary of the company's history:
US inflation data comes in lower than expected, market bounces back. Compared to the same month last year, prices rose by 2.8%. An increase of 2.9% was expected.
Thursday:
The fashion group $BOSS (-0.26%) Hugo Boss from Metzingen wants to increase its dividend to 1.40 euros per share. At 4.31 billion euros, turnover was three percent above the previous year's figure and higher than ever before. Declining sales in China were a particular burden on the Group. Profit therefore fell by 17% to 217 million euros. In the coming year, turnover is expected to stagnate, but profitability is set to increase.
Companies such as $DTG (-0.01%) Daimler Truck fell significantly after Donald Trump announced that he would relax the emissions regulations for trucks. Daimler in particular has invested billions of dollars in recent years to make its trucks environmentally friendly.
With the inflation rate in the USA already below expectations, producer prices are also below expectations. This is particularly interesting, as producer prices are a leading indicator for inflation in the future.
https://www.ariva.de/amp/usa-erzeugerpreise-steigen-weniger-als-erwartet-11567717
Friday:
As with $VOW3 (-0.5%) VW, BMW's profits are also on the decline. BMW achieved a profit of 7.7 billion euros, 37% less than a year ago. Turnover fell by 8.2% to 142 billion euros. China is the main problem for BMW.
These are the most important dates for the coming week:
Wednesday: 04:00 Interest rate decision (Japan)
Wednesday: 19:00 Interest rate decision (USA)
Thursday: 12:00 Interest rate decision (BoE)
Can you think of any other dates? Write it in the comments 👇
22
6Mon·
TeamViewer - underestimated potential?
$TMV (+0.63%) The TeamViewer share has not exactly shone recently. Nevertheless, I see good growth opportunities. I find the trend towards unattended vending machines particularly exciting. More and more companies are relying on remote maintenance to control these machines efficiently. This is exactly where TeamViewer could benefit greatly. If they do it cleverly, there is still a lot of room for improvement. What do you think? Will the share remain a slow seller or is there more to it?
22
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