GÖPPINGEN (dpa-AFX) - Software provider Teamviewer made more profit than expected in its day-to-day business in the third quarter. Earnings before interest, taxes, depreciation and amortization adjusted for special effects climbed 19 percent year-on-year to 70.3 million euros, the MDax company announced in Goppingen on Tuesday. Analysts had expected less. In addition to positive currency effects, the company pointed out that marketing costs had temporarily risen less and administrative costs had even fallen. Normally, companies in the software industry do the majority of their business seasonally, especially in the fourth quarter, when higher marketing costs are incurred. The management team led by Oliver Steil maintained its full-year guidance, even though the operating margin (adjusted Ebitda) for the first nine months was 43 percent, above the target of around 40 percent.

Sales in the third quarter increased by ten percent to 158.1 million euros. In terms of revenue and billings, growth was down on the previous quarter, and CFO Michael Wilkens spoke of a difficult market environment. The lowest currency-adjusted increase in billings was recorded by Teamviewer in the Americas region. However, CEO Steil saw good development in business with partners, with sales via SAP systems, for example, making progress. Net income soared by over 60 percent to 26.5 million euros./men/he