Successful Expansion into Pharmaceutical E-commerce

Driving Sales Growth of GeneTime®

Achived Significant Progress towards Pipeline Products and Boshutai® was Granted Approval for Marketing in China

HONG KONG SAR – EQS Newswire – 30 March 2021 – A fully integrated biopharmaceutical company – Uni-Bio Science Group Limited (“Uni-Bio Science”, together with its subsidiaries referred to as the “Group”, stock code: 0690.HK), is pleased to announce its annual results for the year ended 31 December 2020 (the “Year”), as well as its comparative figures for the year ended 31 December 2019 (“2019”).

Key Accomplishments in 2020

During the Year, the Group achieved a spectrum of accomplishments, for both of its marketed products and innovative biologics. The key highlights include:

1. GeneTime® (EGF spray indicated for wound healing) generated remarkable results. Sales of GeneTime® reached HK$137.2 million, representing an increase of 9.5% YoY. The Group’s newly-developed digital marketing and pharmaceutical e-commerce platform will continue to be a strong sales driver of GeneTime®.

2. The Group’s Pinup® (Voriconazole Tablets) had been successfully approved by the National Medical Products Administration (“NMPA”) for Bioequivalence (“BE”) certification in December 2020, and had been included in the national procurement tender on 8 December 2020. The approval would facilitate Pinup®’s hospital tenders and listings, especially in national procurement, to achieve a larger market share in the anti-fungal infection drug market.

3. Durning the Year, the Group’s Uni-PTH (pre-filled injection pen) or 2nd Generation Uni-PTH was successfully approved by NMPA for clinical trial. The Group will begin conducting bridging clinical trial for 2nd Generation Uni-PTH. In May 2020, the Group started a partnership with Swiss self-care giant Ypsomed to co-develop 2nd Generation Uni-PTH alongside YpsoPen®, a state-of-the-art pen injector with unparalleled dosing accuracy which minimized injection pain.

4. The application for clinical trial of Recombinant GLP-1 Injection (“Uni-GLP”) has been approved by NMPA on 14 July 2020. Currently, the Group’s professional and technical teams are making great efforts in preparing for clinical trial-related work. Supported by recent data, Uni-GLP has proven its developmental potential in treatment of COVID-19 and other high value indications.

5. The Group’s Boshutai® (Acarbose Tablets) was granted approval for marketing in China by NMPA on 10 November 2020 and the Group also passed GMP manufacturing inspection and was approved to manufacture Boshutai® from 10 December 2020. To ensure Boshutai® would be manufactured at the most competitive cost, the Group formed a strategic partnership with Sinopharm Weiqida Pharmaceutical Company Limited and Suzhou Yingli Medical Technology Company Limited during the Year to lower the production cost, increase manufacturing efficiency and streamline the overall supply chain.

6. During the Year, the Group partnered with Chengdu Medlinker Technology Company Limited to co-develop digital marketing and pharmaceutical e-commerce platform for the Group’s products. Aiming at creating an integrated healthcare system, this corporation is expected to deliver much better service for patients and clinical practitioners, expanding its available marketing channels, and enhancing brand awareness. In addition, the Group is also proactively exploring partners such as Haodaifu (好大夫在線) and other respective platforms to address the unmet needs for online drug sales.

Annual Results

In 2020, the Group recorded a turnover of HK$208.8 million, representing a slight decrease of approximately 0.3% YoY (2019: HK$209.4 million). The decrease in turnover was mainly attribute to the significant sales drop in the first quarter of 2020 during the outbreak of COVID 19. The turnover in the second half exceeded expectation, and was able to offset most of the shortfall in the first half of 2020. Among all the products, GeneTime® was particularly favoured by the market, with an increase of 9.5% in turnover from approximately HK$125.3 million in 2019 to HK$137.2 million in 2020. The remarkable turnover growth was mainly attributable to the strong recovery from hospital sales due to efforts of the Group’s broad market team, as well as the additional turnover from the newly-developed digital marketing and pharmaceutical e-commerce platform since May 2020. During the Year, GeneSoft® recorded a decrease in turnover from approximately HK$33 million in 2019 to HK$31.6 million, representing a decrease of4.2%. The decrease was mainly attributable to the serious reduction in patients’ hospital visits since the outbreak of COVID-19, despite there was a gradual recovery in the second half of the Year. Market competition was keen as Pinup® did not received its BE Certification from the NMPA until December 2020. Pinup® recorded a decrease of 21.9% in turnover from approximately HK$48.0 million to approximately HK$37.5 million during the Year. The decrease was also attributed to the reduction in patients’ hospital visits due to the COVID-19 outbreak.

Gross profit slightly decreased 0.2% from approximately HK$181.5 million in 2019 to HK$181.1 million in 2020, whereas gross profit margin remained stable at 86.7% (2019: 86.7%). Alongside the ongoing internal control and business optimization by digitalization, as well as the restructuring of the Group’s sales force and the building of its direct sales team, general and administrative expenses (“G&A Expenses”) decreased for three consecutive years. G&A Expenses decreased 39.7% yoy from HK$ 59.4 million in 2019 to HK$ 35.8 million in 2020, accounted for 17.2% of turnover as compared with 28.4% in 2019. The percentage of selling and distribution expense over turnover improved to around 70.0% in 2020 from 71.3% in 2019 because of the Group’s cautious salesforce optimization. R&D expenses slightly decreased by 4.6% to HK$ 40.7 million due to the completion of several clinical tests, of which the development expenses have been capitalized. Operating loss for the Year was HK$ 70.9 million due to an impairment of intangible assets from certain old technologies of previous version products (Uni-PTH and Uni-GLP) and an impairment of intangible assets from the unsatisfied BE result and the suspended BE process of Boshutai®. Excluding the impact of write-off intangible assets and impairment loss on deposit paid for the acquisition of intangible assets in 2020 together with one off gains from disposal of property and subsidiary in 2019, the normalised operating loss was significantly reduced from HK$62.7 million in 2019 to HK$ 34.8 million in 2020. For 2020, the Group recorded a loss of HK$ 71.3 million (2019: profit of HK$2.5 million), with a basic loss per share of HK 1.11 cents (2019 basic earnings per share: HK0.04 cents).

Prospects

The COVID-19 pandemic has not only driven the growth of the pharmaceutical industry, but also boosted the online healthcare sector, especially in China. Regulatory reforms have been introduced to support the digitalization of the healthcare industry. The Group believes that the favorable online market environment and government policies would benefit its business operation and promotebusiness growth in the future.

Focusing on the Sales of EGF Products

The Group’s signature products, GeneTime® and GeneSoft®, have been well-received by the market. The collaboration with Medlink to develop digital marketing channels has proved to be successful, as GeneTime® recorded a tremendous increase in turnover in the second half of 2020. The Group will continue to utilize the online resources to promote GeneTime®. To accommodate the increasing demand, the Group is planning to expand the production capacity for its EGF products. New technologies will also be integrated to this new plant to further increase efficiency and decrease production costs. The new site is expected to commence operations in 2023.

Awaiting for Results of Pinup® in National Drug Volume-based Procurement Which Will Help Secure Future Growth

The Group submitted the tender application of Pinup® for the National Drug Volume-based Procurement and has been waiting for the results announcement. Pinup® is a voriconazole tablet that is tailored to treat severe fungal infection, and the Group is one of the only two manufactures that has passed BE certification for the 50mg formulation of voriconazole at the end of 2020. The Group is confident that Pinup® will be included in the procurement and believes that the successful inclusion will help meeting the rising demand of anti-fungal medicine in the both public as well as private hospitals, and will deliver positive impact to the Group’s top and bottom line in the future.

Focusing on the Commercialization of Acarbose Tablet

In 2021, the Group will focus on the commercialization of Boshutai®, and expects immediate sales contribution from the product. Meanwhile, the Group will promote Boshutai® through third-party channels, including online platforms, retail pharmacies, as well as private hospitals, to further expand its distribution coverage at a competitive pricing.

Accelerating the Clinical Research Progress

The Group is optimistic about the potential of Uni-GLP in new therapeutic areas, and will continue to collaborate with several universities in China to conduct preclinical research of Uni-GLP in obesity, as well as to formulate a new innovative oral or 3rd generation Uni-GLP. In 2021, the Group will begin conducting bridging clinical trials for liquid form Uni-PTH, and wishes to submit the New Drug Application within 2021. If the process goes smoothly, it is expected that the powder form Uni-PTH will be launched in 2021 and liquid form Uni-PTH can be launched in as soon as 2022.

Mr. Kingsley Leung, Chairman of Uni-Bio Science, added, “In a longer term, we aim to establish a leading drug commercialization platform in expanding its business scale in both upstream and downstream markets. In terms of upstream operations, the Group is looking for collaborations with innovative research and technology companies that are equipped with pharmaceutical development capabilities. While the partner company focuses on developing novel drugs, the Group will conduct clinical research and be responsible for commercialization in China by leveraging its extensive distribution network. In March 2021, the Group has formed a partnership with DotBio Pte. Ltd. (“DotBio”), a highly innovative biopharmaceutical company in Singapore, to co-develop next generation, best-in-class therapeutics for patients with retinal diseases. Leveraging on DotBio’s unparalleled technology capability in the ophthalmology space, together with the Group’s extensive experience in fermentation, purification, quality assurance and quality control of E.coli-expressed proteins, the Group believes that the partnership is able to diversify the Group’s pipeline and capture the rising needs of the age-related macular degeneration treatment market.The Group will also expand its distribution channels by tapping into pharmaceutical e-commerce. The online platforms not only allow patients to access services including online healthcare consultation, e-prescription and drug purchase at any time anywhere, but also expand doctors’ coverage and exposure by solving their bottleneck of being in one hospital at a time. The pharmaceutical e-commerce arena would definitely provide doctors and patients with higher degree of convenience and cost-efficiency, and that would in turn, drive more direct sales of the Group’s drugs. With our strategies to accelerate its product pipeline, enhance its operational efficiency and strengthen its sales network. These would in turn, promote its rapid growth and generate fruitful returns for its shareholders.”

About Uni-Bio Science Group Limited

Uni-Bio Science Group Limited is principally engaged in the research and development, manufacture and distribution of pharmaceutical products. The research and development centre is fully equipped with a complete system for the development of genetically-engineered products with a pilot plant test base which is in line with NMPA requirements. The Group also has two GMP manufacturing bases in Beijing and Shenzhen. The Group is focused on the development of novel treatments and innovative drugs addressing the therapeutic areas of diabetes, ophthalmology and dermatology.

Uni-Bio Science Group Limited was listed on the Main Board of the Hong Kong Stock Exchange on November 12, 2001. Stock code: 0690.

Net profits drop 46% to HK$612 million with final dividend HK$0.05/share

Adjust product mix actively; Strive for innovative breakthroughs

Results summary:

• Total revenue HK$4,261 million, representing a decrease of 8.1% y-o-y
• Net profits HK$612 million, representing a decrease of 46.1% y-o-y
• The Board resolved to pay final dividend of HK$0.05 /share

HONG KONG SAR – Media OutReach – 30 March 2021 – SSY Group Limited (“SSY” or the “Company”; Stock Code: 2005.HK) and its subsidiaries (together, the “Group”) presents the annual results of the Company for the year ended 31 December 2020 (“2020” or “the year”).

During the year, the Group achieved a revenue of HK$4,261 million, representing a decrease of 8.1% and the gross profit margin increased by 1.5 percentage point to 63.6%. The Group achieved net profits of HK$612 million, representing a decrease of 46.1% compared with last year. During the year, the operational activities of various size of hospitals and various types of clinics in the PRC were severely disrupted by the epidemic and thus the number of patients substantially decreased. Also, key product Moxifloxacin Hydrochloride & Sodium Chloride Injection was affected by national centralised procurement. Sales volume of intravenous infusion solutions, being the major products of the Group, dropped considerably. Sales volume of the intravenous infusion solutions was approximately 1,190 million bottles/bags, representing a decrease of approximately 23% compared to last year. Facing significant pressure from the market, the Group responded actively by further securing and stabilizing its market, and laid a solid market foundation for the rapid recovery of the intravenous infusion solution business after the epidemic. On the other hand, the Group took effective measures to actively adjust its product mix and facilitate the rapid growth of businesses in ampoules, bulk pharmaceuticals and oral preparations, so as to further achieve the diversification of the business.

The Board of directors resolved to pay a final dividend of HK$0.05 per share for year 2020, together with interim dividend HK$0.05 per share, total dividend for full year of 2020 will be HK$0.10 per share, representing a decrease of approximately 9% from last year.

During the year, revenue of ampoule products amounted to HK$863 million, representing a growth of 1.5 times compared to last year. During the year, the Group built a new production line designated for 10ml PP ampoule injections to further expand production capacity of specialised ampoule products. In respect of bulk pharmaceuticals business, through continuous optimization and enhancement of production processes, preliminary production cost advantage has revealed, a new landscape is gradually formed with major bulk pharmaceuticals and promising new products which are high value-added specialised bulk pharmaceuticals as coordinating development. Oral preparations business segment achieved preliminary results. After implementation of centralised procurement in the PRC, new products Cefdinir capsule and Prucalopride Succinate tablet were the first tender won by the Group. The PRC government has ordered the Group’s Abidol Hydrochloride capsule as a broad-spectrum antiviral drug through centralised procurement, which has played a positive role in this fight against the epidemic. The revenues of Abidol for the year amounted to RMB93.40 million, representing a significant increase of 13.5 times compared to last year. Export sales to foreign countries achieved a growth despite the general trend, with increases in export revenue of 40.7% and export revenue of infusion solution of 10.2% compared to last year.

Following along the lines of transformation, upgrade and innovation development, the Group continuously increased its efforts in technological innovation. The Group’s pilot-testing and industrialised support project for pharmaceutical research and development platform have been handed over for use in May 2020, which will facilitate the Group its industrial transformation and upgrade. Type I innovative drug NP-01, the Group’s first innovative drug, has received approval for clinical trial and its clinical testing research have already commenced. During year 2020, 6 products with 7 specifications, including Prucalopride Succinate tablet (1mg, 2mg), Cefdinir capsule (0.1mg), Rosuvastatin Calcium Tablet (10mg), Doxofylline Injection, Ropivacaine Hydrochloride Injection and Moxifloxacin Hydrochloride & Sodium Chloride Injection, passed the Consistency Evaluation of Quality and Efficacy of Generic Drugs in the PRC or were regarded as passing the consistency evaluation. During the year, 5 approvals for consistency evaluation of injections have been obtained. Ciprofloxacin Lactate Injection was the first one of such product passing the consistency evaluation in the PRC while Fluconazole and Sodium Chloride Injection and Bromhexine Hydrochloride Injection were the second ones of such products passing the consistency evaluation in the PRC. The 250ml: 0.25g specification and 100ml:0.5g specification of Metronidazole and Sodium Chloride Injection were the first and second one of such specifications passing the consistency evaluation in the PRC respectively.

Looking ahead in 2021, domestic and international economy will remain complex and dynamic. Affected by the normality under novel coronavirus epidemic, the pressure arising from external factors may persist and bring new challenges to the Group’s operation and sales. Facing numerous uncertainties, the Group will continue to keep its composure, uphold its development focus and do its best in maintaining the momentum in sustainable and stable development of the Group. The Group will promote development by innovation, and improve efficiency by management. The Group will maintain the leading position of our major products in intravenous infusion solution market. The Group will strive to achieve recovery growth of intravenous infusion solution segment, with an estimated sales volume of 1,600 million bottles/bags, representing an increase of approximately 34% from 2020. The Group will continue to maintain the fast growth of ampoule injection business so as to make ampoule business segment one of the principal businesses of the Company soon. On the other hand, the Group will actively utilize the production capacity of bulk pharmaceuticals and improve capacity utilization to lay a solid foundation for the listing in the PRC. Moreover, the Group will continue to make progress on implementation of innovative drug evaluations and consistency evaluations. We will adhere to the new product development idea of “combination of generic and innovative drugs” with development of as injections the basis. At the same time, we will take into consideration of research and development of new types of oral preparation, bulk pharmaceuticals and medical materials. Meanwhile, the Group strives to make new breakthroughs in the research and development of innovative drugs, push forward the phase I clinical trial of anti-tumor Type 1 innovative drug NP-01, and conduct preliminary research on anti-liver fibrosis Type 1 innovative drug AND-9, anti-epileptic compound QO-83 and anti-tumor Type 2 chemical innovative drug Miriplatin.

Mr. Qu Jiguang, Chairman and CEO of SSY Group Limited said, “Facing the risks and challenges persisting during the post-epidemic era, we are full of confidence on the future development of the Group. Leveraging on the competitive edges on our scale, quality, lean management and branding in the industry, we will firmly grasp development initiatives, keep the tenacity and vitality from innovation development, and push forward high-quality development of the Group. We will deliver more solid development results to bring satisfactory returns to our investors.”

About SSY Group Limited

SSY Group Limited is one of the leading pharmaceutical manufacturers in China with nearly 7 decades of operation history and a well-established brand name. The Group went public on the Hong Kong Stock Exchange in December 2005 with stock code 2005. The group has become a component stock of Morgan Stanley Capital International Index (MSCI) China Index from June 2018. The Group is principally engaged in the research, development, manufacture and sale of a wide range of pharmaceutical products, including OTC drugs, bulk medicine and medical materials, mainly intravenous infusion solution to hospital and distributors. The manufacturing plants of the Group locates in Hebei Province and Jiangsu Province in China, its products take leading position in the high-end hospital market in China.

Trend Micro research reveals lack of IT-OT collaboration is holding back security projects

HONG KONG SAR – Media OutReach – 30 March 2021 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), the leader in cybersecurity, today revealed that most (61%) manufacturers have experienced cybersecurity incidents in their smart factories and are struggling to deploy the technology needed to effectively manage cyber risk.

Trend Micro commissioned independent research specialist Vanson Bourne to conduct an on-line survey with 500 IT and OT professionals in the United States, Germany and Japan and found that over three-fifths (61%) of manufacturers have experienced cyber incidents, with most (75%) of these suffering system outages as a result. More than two-fifths (43%) said outages lasted over four days.

These findings and more can be found in the report, “The State of Industrial Cybersecurity: Converging IT and OT with People, Process, and Technology.” A full copy of the report can be found at https://resources.trendmicro.com/Industrial-Cybersecurity-WP.html.

“Manufacturing organizations around the world are doubling down on digital transformation to drive smart factory improvements. The gap in IT and OT cybersecurity awareness creates the imbalance between people, process and technology, and it gives bad guys a chance to attack.” said Akihiko Omikawa, executive vice president of IoT security for Trend Micro. “That’s why Trend Micro has integrated IT and OT intelligence and provides a comprehensive solution from the shop floor to the office. We’re helping put visibility and continuous control back in the hands of smart factory owners.”

The results from all three countries showed that technology (78%) was seen as the biggest security challenge, although people (68%) and process (67%) were also cited as top challenges by many respondents. However, fewer than half of the participants said they’re implementing technical measures to improve cybersecurity.

Asset visualization (40%) and segmentation (39%) were the least likely of cybersecurity measures to be deployed, hinting that they are the most technically challenging for organizations to execute. Organizations with a high degree of IT-OT collaboration were more likely to implement technical security measures than those with less cohesion. There was a particularly big gulf between organizations with high IT-OT collaboration verses those with little to no IT-OT collaboration in the use of firewalls (66% verses 47%), IPS (62% verses 46%) and network segmentation (54% verses 37%).

Standards and guidelines were cited as the top driver for enhanced collaboration in the United States (64%), Germany (58%) and Japan (57%). The National Institute of Standards and Technology’s (NIST) Cyber Security Framework and ISO27001 (ISMS) were among the most popular guidelines.

The most common organizational change cited by manufacturers in all three countries was appointing a factory Chief Security Officer (CSO).

Trend Micro recommends a three-step technical approach to securing smart factories and keeping their operations running:

1) Prevention by reducing intrusion risks at data exchange points like the network and DMZ. These risks could include USB storage devices, laptops brought into a factory by third parties, and IoT gateways.

2) Detection by spotting anomalous network behavior like Command & Control (C&C) communication and multiple log-in failures. The earlier the detection, the sooner attacks can be stopped with minimal impact on the organization.

3) Persistence is crucial to protect smart factories from any threat that has evaded prevention and detection stages. Trend Micro TXOne Network’s industrial network and endpoint security solutions are purpose-built for OT environments. They work at a wide range of temperatures and are easy to use with minimal performance impact.

To find out more about Trend Micro’s security solutions for smart factories, please visit trendmicro.com/en_hk/business/solutions/iot/smart-factory.html.

About Trend Micro

Trend Micro, a global leader in cybersecurity, helps make the world safe for exchanging digital information. Leveraging over 30 years of security expertise, global threat research, and continuous innovation, Trend Micro enables resilience for businesses, governments, and consumers with connected solutions across cloud workloads, endpoints, email, IIoT, and networks. Our XGen™ security strategy powers our solutions with a cross-generational blend of threat-defense techniques that are optimized for key environments and leverage shared threat intelligence for better, faster protection. With over 6,700 employees in 65 countries, and the world’s most advanced global threat research and intelligence, Trend Micro enables organizations to secure their connected world. www.trendmicro.com.hk

• Five-year partnership as key pillar of TeamViewer’s strategy to build a truly global tech brand
• TeamViewer to transfer use cases from the racetrack to the industrial environment of customers
• Investment in Mercedes F1 and FE partnership fully reflected in recently updated adjusted EBITDA margin guidance for 2021
• Partnerships with #1 sports to accelerate global enterprise and personal user expansion
• Landmark sport sponsorships to foster billings growth rates after 2023, while maintaining best in class profitability

GOPPINGEN, GERMANY – EQS Newswire – 30 March 2021 – The Mercedes-AMG Petronas Formula One Team and Mercedes-EQ Formula E Team are proud and delighted to jointly announce the leading global software company TeamViewer as a new official partner. TeamViewer will provide the teams with remote connectivity solutions and further cutting-edge technology to drive greater performance over the next five years. The software company breaks new ground as the first brand to agree a new partnership with Mercedes in Formula One and Formula E, including prominent branding on both cars and the drivers’ racing suits. As the only manufacturer competing in both series, Mercedes is uniquely positioned to deliver this partnership.

TeamViewer will be joining a high-tech ecosystem that is engineering the future of mobility in the world’s fastest development laboratory, thanks to advanced performance hybrid solutions in Formula One and battery electric technology in Formula E, which will find their ways into future passenger vehicles. The demanding remote operating conditions, as well as the data-driven nature of each racing series, will prove use cases that can be translated from the racetrack to the industrial environment for TeamViewer’s customers.

TeamViewer software will make the Mercedes teams more efficient, with optimized remote operations and enhanced connectivity between team processes trackside and back at base, notably in terms of race support during testing and racing. TeamViewer will furthermore play an important role in motorsport’s journey towards net zero emissions, by enabling people and companies to effectively monitor systems remotely. By enabling remote working and IoT solutions across multiple sites, TeamViewer technology can deliver further reductions of the carbon footprint of the racing teams, each of which achieved the FIA’s 3* Environmental Accreditation standard last year.

Today’s announcement also provides a sneak preview of the branding that will appear on the Mercedes race cars in Formula One and Formula E, as well as on the driver overalls and teamwear, from the respective Monaco races in each series – the Monaco E-Prix will be held on 8th May, with the Grand Prix de Monaco following two weeks later, on 23rd May.

Broadcast in more than 170 territories around the world and with more than 500 million global fans, Formula One is the world’s most popular annual sporting platform and reaches an annual cumulative audience of over 1.5 billion. Alongside the global pinnacle of motorsport, Formula E is growing a new and distinctive audience for its unique city racing format, and together the two series will support TeamViewer’s ambition to become a truly global tech brand through races in 25 countries across six continents.

“We are thrilled to announce this new partnership with TeamViewer,” said Toto Wolff, CEO and Team Principal of the Mercedes-AMG Petronas F1 Team and Head of Mercedes-Benz Motorsport. “Motorsport is a proven catalyst for technology and business development, and we are excited to work together on both fronts over the coming years. It is a dynamic and ambitious brand, and a perfect fit for the pioneering spirit of Mercedes-Benz in motorsport. By working together across F1 and FE, we can drive gains in technology performance, and we will help optimize remote operations for many companies across the globe. In addition to our own ambitions in terms of sustainability, we are convinced that the growth of companies like TeamViewer will make a meaningful difference to CO₂ emissions on a much greater scale. I’m excited to welcome them to the team – and looking forward to seeing their brand enter the global stage with our Monaco races in May.”

Oliver Steil, CEO of TeamViewer: “We are very proud to become an official partner of Mercedes-Benz, one of the most iconic brands in motorsport. TeamViewer and Mercedes share the same values of performance, innovation, and engineering. This partnership is a key pillar in our strategy to build a truly global tech brand, while creating new opportunities to transfer use cases from the fastest-moving and most data-driven sports into the industrial environment of our customers. We are excited to provide the Mercedes Formula One and Formula E teams with our leading connectivity solutions for remote diagnostics and collaboration – making them faster, more efficient, and more sustainable. Joining forces with the most successful teams in motorsport underpins our strategy to grow stronger for longer and generates additional value for our customers, employees and shareholders.”

The Mercedes-Benz and the already announced Manchester United partnerships form a key pillar of TeamViewer’s marketing strategy to invest in its brand equity globally and accelerate the enterprise customer and personal user expansion in key growth markets. The company expects both sports partnerships to foster growth after 2023 when it expects EUR 1 billion in billings, leading to extra billings of around EUR 150 million in 2025, while retaining best in class profitability levels. The investment in the Mercedes F1 and FE teams is already reflected in the recently updated adjusted EBITDA margin guidance of 49-51% of billings for 2021. All strategic marketing activities have no impact on other growth initiatives including investments in sales and R&D as well as further tuck-in acquisitions.

For more information on the partnership please have a look at: http://www.teamviewer.com/en/sponsorship/mercedes/

If you would like to know more about the marketing strategy of TeamViewer, please visit: http://www.teamviewer.com/en/sponsorship/

About TeamViewer

TeamViewer is a leading global technology company that provides a connectivity platform to remotely access, control, manage, monitor, and repair devices of any kind – from laptops and mobile phones to industrial machines and robots. Although TeamViewer is free of charge for private use, it has more than 550,000 subscribers and enables companies of all sizes and from all industries to digitalize their business-critical processes through seamless connectivity. Against the backdrop of global megatrends like device proliferation, automation and new work, TeamViewer proactively shapes digital transformation and continuously innovates in the fields of Augmented Reality, Internet of Things or Artificial Intelligence. Since the company’s foundation in 2005, TeamViewer’s software has been installed on more than 2.5 billion devices around the world. The company is headquartered in Goppingen, Germany, and employs more than 1,300 people globally. In 2020, TeamViewer achieved billings of EUR 460m. TeamViewer AG (TMV) is listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found at www.teamviewer.com.

About Mercedes-AMG Petronas Formula One Team

The Mercedes-AMG Petronas F1 Team is the works Formula One Team of Mercedes-Benz, competing in the FIA Formula One(TM) World Championship – the pinnacle of world motorsport and the largest annual sporting series in the world. Based at two world-class technology campuses in the UK, the team designs, develops, manufactures and races the race cars and Hybrid Power Units driven by seven-time World Champion Lewis Hamilton and race-winning team-mate Valtteri Bottas. Formula One is a uniquely demanding technical and human challenge, requiring the right alchemy of cutting-edge technologies, high-performance management and elite teamwork to deliver results at 23 Grands Prix around the globe in a race season running from March to December. The Mercedes-AMG Petronas F1 team set new benchmarks for F1(TM) success on its way to winning the Constructors’ and Drivers’ World Championships in 2014, 2015, 2016, 2017, 2018, 2019 and 2020. During those seven Championship-winning seasons, the team scored 100 wins, 200 podiums, 107 pole positions, 70 fastest laps and 53 one-two finishes from 134 race starts.

About Mercedes EQ Formula E Team

Motorsport has been a core element of Mercedes-Benz for more than 125 years. The first vehicle to bear the Mercedes-Benz name was a racing car. In 2019, Mercedes-Benz added a new chapter in its long and successful motorsport history: For the first time, two electric racing cars from the new Mercedes-EQ Formula E Team are entering the racetrack. The ABB FIA Formula E World Championship is the ideal platform to demonstrate the performance of the Mercedes-EQ battery-powered electric vehicles, offering a completely new kind of experience, which combines racing with a unique event character. The team celebrated the first ever fully-electric race win for Mercedes-Benz and ended their debut season in Formula E in third place in the team championship. The Mercedes-EQ Formula E team benefits from the brand’s many years of experience in motorsport and its technical know-how throughout the entire Mercedes-Benz Motorsport-Family. By competing in two racing series – Formula 1 and Formula E – in parallel, Mercedes transfer the lessons from both to its road vehicle development. The two platforms combined will constitute a major technology driver for the entire Mercedes-Benz family and help to shape the future of the automobile.

IMPORTANT NOTICE
Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in TeamViewer’s disclosures. You should not rely on these forward-looking statements as predictions of future events and we undertake no obligation to update or revise these statements. Our actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic developments, external fraud, lack of innovation capabilities, inadequate data security and changes in competition levels.

Alternative performance measures (APMs)
This document contains certain alternative performance measures (collectively, “APMs”) including billings and Adjusted EBITDA that are not required by, or presented in accordance with, IFRS, German GAAP or any other generally accepted accounting principles. TeamViewer presents APMs because they are used by management in monitoring, evaluating and managing its business and management believes these measures provide an enhanced understanding of TeamViewer’s underlying results and related trends. The definitions of the APMs may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools and should, therefore, not be considered in isolation or as a substitute for analysis of TeamViewer’s operating results as reported under IFRS or German GAAP. APMs such as billings and Adjusted EBITDA are not measurements of TeamViewer’s performance or liquidity under IFRS or German GAAP and should not be considered as alternatives to results for the period or any other performance measures derived in accordance with IFRS, German GAAP or any other generally accepted accounting principles or as alternatives to cash flow from operating, investing or financing activities.

TeamViewer has defined each of the following APMs as follows:
“Billings” represent the (net) value of goods and services invoiced to customers in a given period whose realization is probable – it is defined as revenue adjusted for change in deferred revenue P&L-effective; “Adjusted EBITDA” means EBITDA, adjusted for P&L-effective changes in deferred revenue as well as for certain special items relating to share based compensations and other material items that are not reflective of the operating performance of the business;
“Adjusted EBITDA margin” means Adjusted EBITDA as a percentage of billings.