The third area, Operational Workflow Optimization, is based on forward-looking technologies such as Augmented Reality and the Internet of Things. Furthermore, the Managed Enterprise Connectivity area is to be adapted to the special requirements of large companies or critical infrastructure and can be easily integrated into existing corporate IT infrastructures. On the one hand, TeamViewer will continue to offer those IT products that can be used in a standardized manner by SMEs and private individuals. The strategy lies in the greater separation of the Remote-as-a-Service platform into three sub-segments. TeamViewer is to become larger by opening up new customer segments, using the solutions in more application fields, and through geographic expansion. In addition, the management around CEO Oliver Steil issued a clear growth target based on three points. A new software development center was also built in Ioannina, Greece. In the meantime, the Group employs around 1,500 people. In 2020 alone, the workforce was increased by 500 to 1,200 employees. To be able to handle the enormous growth, investments were made both in the workforce and in the global presence. The number of subscribers grew by around 25% to 584,000, and clientele in the lucrative key account business exploded threefold to 1,900." 2 Investing in growth The EBITDA margin increased to 57%, corresponding to EBITDA of EUR 261.4 million. Under the balance sheet for the year, billings, which are billed revenues, were EUR 460.4 million, up 44% YOY. Overall, management twice increased its set forecasts. In March of last year alone, subscribers added monthly tripled, and active devices in relevant markets increased 50% in short order. Promulgating lockdowns and moving to home offices and homeschooling, video conferencing, and remote maintenance systems stepped out of the niche and into the mainstream. Since the beginning of March 2020, the Goeppingen-based company's business has exploded due to the outbreak of the Corona pandemic. Market environment and opportunities Corona changes everything In addition to the free version for the bulk of private customers, the contract customer base has grown to more than 600,000 customers, regardless of industry or size. In total, the highly scalable software has been downloaded worldwide on more than 2.5 billion devices. These range from remote support of their customers and employees to location-independent control, monitoring and managing equipment or complex machines and instruments, to workflows supported by augmented reality (AR). The Company, listed on Deutsche Börse's MDAX index, has focused since its founding on cloud-based technologies that enable users to collaborate online and provide remote support globally. Defrayed the issue volume at the IPO in September 2019.
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