EQS-News

Nagarro’s preliminary numbers for FY 2023 show consistent performance and 6.5% revenue growth

EQS-News: Nagarro SE / Key word(s): Preliminary Results/Annual Results Nagarro’s preliminary numbers for FY 2023 show consistent performance and 6.5% revenue growth 13.03.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. March 13, 2024 - Nagarro, a global digital engineering leader, today announced its preliminary unaudited financial numbers for its full year ended December 31, 2023. Revenue grew to €912.0 million in 2023 against the guidance of €915 million and up from €856.3 million in 2022, a YoY growth of 6.5%. Gross profit and Adjusted EBITDA were affected by excess capacity throughout the year because of the moderation in growth. Gross profit was €235.5 million in 2023, down from €247.1 million in 2022. Gross margin was 25.8% in 2023 against the guidance of 26%, and down from 28.9% in 2022. Adjusted EBITDA was €125.9 million in 2023, down from €148.5 million in 2022. Adjusted EBITDA margin was 13.8% in 2023 against the guidance of 13% and down from 17.3% in 2022. EBITDA was €123.2 million in 2023, down from €145.6 million in 2022.

Nagarro’s cash balance at the end of 2023 was €109.0 million as against €110.2 million at the end of 2022. The company reported 18,413 professionals as of December 31, 2023.

Manas Human, co-founder, said, “The year ended with a more stable demand environment than we have seen recently. The final results were affected by fewer working days in the last quarter and year-end effects. We also continued our efforts to trim off excess capacity gradually. As a company, we feel very well prepared to capitalize on improving economic conditions as and when they happen. We are excited that we continue to enjoy the loyalty and patronage of our esteemed clients.”

Nagarro plans to publish its audited annual report for 2023 on April 16, 2024.

 

Legal notice

The information contained in this document is provided as of the date of its publication and is subject to change without notice. It contains preliminary unaudited figures and forward-looking statements based on the current views, expectations, assumptions, and information of the management of Nagarro. Gross profit, gross margin, Adjusted EBITDA, and Adjusted EBITDA margin are non-IFRS/non-GAAP financial measures. These and other non-IFRS/non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with IFRS or other GAAP.

 

About Nagarro

Nagarro, a global digital engineering leader, helps clients become fluidic, innovative, digital-first companies and thus win in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and its Fluidic Enterprise vision. Nagarro employs over 18,000 people in 36 countries. For more information, please visit www.nagarro.com.

FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220)

For inquiries, please contact [e-mail].

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13.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	Nagarro SE
	Baierbrunner Straße 15
	81379 München
	Germany
Phone:	089 / 785 000 282
Internet:	www.nagarro.com
ISIN:	DE000A3H2200
WKN:	A3H220
Indices:	SDAX, TecDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1857187

End of News	EQS News Service

1857187  13.03.2024 CET/CEST

Nagarro

+2,57 %

+5,27 %

-5,08 %

-23,58 %

-25,63 %

-22,47 %

+4,28 %

+4,28 %

-14,34 %

ISIN:DE000A3H2200WKN:A3H220

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