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Göppingen (dpa) - The software provider Teamviewer enters into another advertising contract with the Mercedes Formula 1 team after its costly sponsorship of the English football club Manchester United.
The five-year deal also includes sponsoring the Mercedes motorsport team for the Formula E electric racing series, as the MDax Group announced in Göppingen on Tuesday.
The investments for the contracts were fully taken into account in the recently lowered forecast for the operating profit, it said.
Sports sponsorship will support the growth of so-called billings - the invoices for the next twelve months - beyond 2023.
It should also bring momentum to large corporate customers.
Teamviewer had significantly cut its profit forecast and target for the operating margin in the face of the costly contract with Manchester United in mid-March.
As a result, the share came under considerable pressure, and at just under EUR 37 the share is currently still noticeably below the February high of just under EUR 50.
As announced at the beginning of February, the billings are to increase to 585 to 605 million euros in the current year.
© dpa-infocom, dpa: 210330-99-22676 / 3
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