Nagarro SE
ISIN: DE000A3H2200
WKN: A3H220
14 November 2024 07:54AM

EQS-News: Nagarro posts 6.1% YoY revenue growth in constant currency in 9M 2024

Nagarro SE · ISIN: DE000A3H2200 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 2029635

EQS-News: Nagarro SE / Key word(s): 9 Month figures/Quarterly / Interim Statement
Nagarro posts 6.1% YoY revenue growth in constant currency in 9M 2024

14.11.2024 / 07:54 CET/CEST
The issuer is solely responsible for the content of this announcement.


November 14, 2024 - Today, Nagarro, a global digital engineering leader, presented its unaudited financial numbers for Q3 2024 and released its nine-month statement.

In Q3 2024, revenue grew to €242.9 million, up 3.7% YoY from €234.3 million in Q3 2023 and up 5.6% YoY in constant currency. Organic YoY revenue growth for Q3 2024 was 5.0% in constant currency, which translated to 3.0% organic YoY revenue growth in Euro terms. Nagarro has revised the definition of cost of revenues from Q1 2024 onwards to align it better with that of other IT services companies. Gross profit in Q3 2024 was €76.5 million as per the current method and €66.6 million as per the previous method, as compared to €56.1 million in Q3 2023 as per the previous method. Gross margin in Q3 2024 was 27.4% compared to 23.9% in Q3 2023, both as per the previous method. Gross margin was 31.5% in Q3 2024 as per the current method. Adjusted EBITDA grew to €34.6 million (14.3% of revenue) in Q3 2024 from €32.0 million (13.7% of revenue) in Q3 2023.

EBITDA grew to €31.9 million in Q3 2024 from €30.6 million in Q3 2023. The main EBITDA adjustments in Q3 2024 were on account of the expense on earnouts of €0.9 million and retention bonus of €0.7 million from past acquisitions, as well as the expense on employee stock options and the Employee Share Participation Program of €0.6 million. EBIT grew to €22.6 million in Q3 2024 from €22.1 million in Q3 2023. Net profit grew to €12.8 million in Q3 2024 from €12.6 million in Q3 2023.

The company’s headcount was trimmed by 363 during Q3 2024.

Nine-month results

Revenue grew to €725.4 million in 9M 2024, up 5.0% YoY from €690.6 million in 9M 2023. Constant currency revenue growth for 9M 2024 was 6.1%. Organic YoY revenue growth for 9M 2024 was 2.6% in constant currency, which translated to 2.0% organic YoY revenue growth in Euro terms. Gross profit in 9M 2024 was €223.5 million as per the current method and €192.9 million as per the previous method, as compared to €175.0 million in 9M 2023 as per the previous method. The gross margin in 9M 2024 was 26.6% as per the previous method compared to 25.3% in 9M 2023 as per the previous method. Gross margin was 30.8% in 9M 2024 as per the current method. Adjusted EBITDA grew to €109.3 million (15.1% of revenue) in 9M 2024, from €92.4 million (13.4% of revenue) in 9M 2023. EBITDA grew to €100.7 million in 9M 2024 from €88.7 million in 9M 2023. EBIT grew to €72.3 million in 9M 2024 from €64.7 million in 9M 2023. Net profit grew to €41.3 million in 9M 2024 against €39.1 million in 9M 2023.

Cash balance increased by €30.9 million from December 31, 2023, to €141.0 million on September 30, 2024.

Operating cash inflow in 9M 2024 rose to €64.9 million from €41.4 million in 9M 2023. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, increased from 84 days on December 31, 2023, to 86 days on September 30, 2024.

The Net Promoter Score from the customer satisfaction survey conducted in Q1 2024 was 66; in Q2 2024, 62; and in Q3 2024, 59, resulting in a score of 62 for 9M 2024. The company reduced net 475 professionals in 9M 2024 to 17,938.

“Nagarro continues to grow in spite of challenging market conditions, with yet another satisfactory quarterly performance. We are excited about our latest acquisition and partnerships, which are in sync with our strategic vision and will help us grow and succeed”, said Gagan Bakshi, Managing Director of Nagarro.


Nagarro SE will hold its analyst and investors meeting as a video call to discuss the Q3 statement 2024 on November 14, 2024, at 01:00 pm CET (04:00 am PT / 06:00 am CT / 07:00 am ET / 12:00 pm GMT / 04:00 pm GST / 05:30 pm IST / 08:00 pm SGT / 09:00 pm JST).

Nagarro SE will hold its retail investors call to discuss the Q3 statement 2024 on November 14, 2024, at 02:30 pm CET (05:30 am PT / 07:30 am CT / 08:30 am ET / 01:30 pm GMT / 05:30 pm GST / 07:00 pm IST / 09:30 pm SGT / 10:30 pm JST).

To attend, please register in advance at https://www.nagarro.com/en/investor-relations/quarterly-statement-call-q3-2024.


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 around 17,900 people in 37 countries. For more information, visit www.nagarro.com.

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

For inquiries, please contact press@nagarro.com.



14.11.2024 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.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Nagarro SE
Baierbrunner Straße 15
81379 München
Germany
Phone: 089 / 785 000 282
E-mail: ir@nagarro.com
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: 2029635

 
End of News EQS News Service

2029635  14.11.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 287,33 402,43 430,37 546,04 856,33 912,06 960,00
EBITDA1,2 32,28 61,58 66,18 70,26 145,56 121,28 135,00
EBITDA-Margin3 11,23 15,30 15,38 12,87 17,00 13,30 14,06
EBIT1,4 18,57 42,42 44,54 45,69 112,43 86,20 100,00
EBIT-Margin5 6,46 10,54 10,35 8,37 13,13 9,45 10,42
Net Profit (Loss)1 8,17 30,40 24,36 30,00 77,32 52,14 58,00
Net-Margin6 2,84 7,55 5,66 5,49 9,03 5,72 6,04
Cashflow1,7 8,58 40,87 69,44 43,96 82,30 77,66 0,00
Earnings per share8 0,72 2,67 1,60 2,16 5,59 3,86 4,20
Dividend per share8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: Lohr & Company

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Nagarro
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A3H220 DE000A3H2200 SE 1.137,90 Mio € 16.12.2020 8FWH4JPF+R6
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
17,21 20,70 0,83 27,80 6,28 14,65 1,25
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
27.06.2024 14.05.2024 14.08.2024 14.11.2024 16.04.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+1,47%
82,60 €
ATH 212,00 €
-9,15% +1,98% -5,55% -4,95% +19,71%

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