EQS News: Nagarro SE: Nagarro publishes its audited results for fiscal year 2024 and its unaudited results for the first quarter of 2025 and confirms the existing guidance for 2025
EQS News: Nagarro SE / Key word(s): Quarterly Results/Annual Results Nagarro publishes its audited results for fiscal year 2024 and its unaudited results for the first quarter of 2025 and confirms the existing guidance for 2025 15.05.2025 / 08:20 CET/CESTThe issuer is solely responsible for the content of this announcement.
May 15, 2025 - Nagarro, a global leader in digital engineering, today announced its audited financial results for the fiscal year ending December 31, 2024, and its unaudited financial results for the three-month period ending March 31, 2025. The Management Board and the Supervisory Board will propose a dividend of EUR 1 per share to the Annual General Meeting.
Manas Human, Co-Founder, said: "We are pleased to announce our strong results and continue to confirm our current guidance for 2025. We have currently initiated several measures to continuously promote growth and development and see great potential to further strengthen our course in the coming months."
Results for the 2024 financial year
Revenue increased from EUR 912.1 million in 2023 to EUR 972.0 million in 2024, representing year-on-year growth of 6.6%. Currency-adjusted revenue growth for the fiscal year was 7.2%. Gross profit increased from EUR 235.7 million (previous method) in 2023 to EUR 253.9 million (previous method) and EUR 295.8 million (current method) in 2024. The gross margin under the previous method was 26.1% in 2024, compared to 25.8% in 2023. Adjusted EBITDA increased from EUR 126.1 million in 2023 to EUR 147.5 million in 2024. The adjusted EBITDA margin increased from 13.8% in 2023 to 15.2% in 2024. EBITDA increased from EUR 118.6 million in 2023 to EUR 134.1 million in 2024. EBIT increased from EUR 83.2 million in 2023 to EUR 147.5 million in 2024. EUR in 2023 to EUR 96.7 million in 2024. The result for the period was EUR 49.2 million in 2024, as in 2023. The number of customers with whom Nagarro generates annual revenue of more than EUR 1 million increased from 181 in 2023 to 186 in 2024.
Cash flow from operating activities increased from EUR 79.7 million in 2023 to EUR 86.5 million in 2024. Factoring utilization under the non-recourse factoring program was reduced by EUR 3.5 million in 2024. Days sales outstanding, which is calculated based on quarterly revenue and includes both contract assets and trade receivables, increased from 84 days on December 31, 2023, to 88 days on December 31, 2024.
Nagarro's cash and cash equivalents amounted to EUR 192.6 million at the end of 2024, compared to EUR 110.1 million at the end of 2023. Nagarro's financial liabilities amounted to EUR 329.6 million at the end of 2024, compared to EUR 274.7 million at the end of 2023. As of December 31, 2024, the company employed 17,695 professionals.
The Management Board and Supervisory Board will propose to the Annual General Meeting the distribution of a dividend of EUR 1.00 per share for the first time. This dividend proposal represents an important milestone and underscores the company's long-term value creation strategy.
As part of its commitment to strong corporate governance, the company will propose to the Annual General Meeting that the Supervisory Board be expanded. The newly proposed candidates – Martin Enderle, Hans-Paul Bürkner, and Jack Clemons – bring in-depth expertise in digital transformation, platform scaling, professional services, and finance and accounting. The company will also propose the reappointment of Carl Georg Dürschmidt to the Supervisory Board.
Results for the first quarter of 2025
Revenue increased to EUR 246.9 million in the first three months of 2025, compared to EUR 238.3 million in the first three months of 2024, representing growth of 3.6%. Gross profit was EUR 75.5 million in the first three months of 2025, compared to EUR 73.6 million in the first three months of 2024. Gross margin was 30.6% in the first three months of 2025, compared to 30.9% in the first three months of 2024. Adjusted EBITDA was EUR 30.2 million in the first three months of 2025, compared to EUR 39.2 million in the first three months of 2024. EBITDA was EUR 33.0 million in the first three months of 2025, compared to EUR 36.0 million in the first three months of 2024. EBIT was EUR 24.1 million in the first three months of 2025, compared to EUR 26.6 million in the first three months of 2024. The result for the period was EUR 11.2 million in the first three months. 2025, compared to EUR 16.6 million in the first three months of 2024. The number of customers with whom Nagarro generated annual revenue of more than EUR 1 million in the last twelve months increased from 181 on March 31, 2024, to 186 on March 31, 2025.
Cash flow from operating activities increased to EUR 29.8 million in the first three months of 2025, compared to EUR 25.9 million in the first three months of 2024. Factoring utilization under the non-recourse factoring program was reduced by EUR 6.7 million in the first three months of 2025 compared to December 31, 2024. Days sales outstanding, which is calculated based on quarterly revenue and includes both contract assets and trade receivables, decreased from 88 days on December 31, 2024, to 81 days on March 31, 2025.
Nagarro's cash and cash equivalents were EUR 162.2 million as of March 31, 2025, compared to EUR 192.6 million as of December 31, 2024. Nagarro's financial liabilities were EUR 302.5 million as of March 31, 2025, compared to EUR 329.6 million at the end of 2024. The company employed 17,496 professionals as of March 31, 2025.
The overview for the twelve-month period ending December 31, 2024, is as follows:
| 2024 | 2023 | growth | ||||
| million EUR | million EUR | |||||
| Sales volume | 972.0 | 912.1 | 6.6% year-on-year 7.2% year-on-year in constant currency | |||
| Gross Profit (current method) | 295.8 | - | ||||
| Gross Profit (previous method) | 253.9 | 235.7 | 7.7% compared to the previous year | |||
| Gross Margin (current method) | 30.4% | - | ||||
| Gross Margin (previous method) | 26.1% | 25.8% | ||||
| Adjusted EBITDA | 147.5 | 126.1 | 16.9% compared to the previous year | |||
| Adjusted EBITDA margin | 15.2% | 13.8% | ||||
| EBITDA | 134.1 | 118.6 | 13.1% compared to the previous year | |||
| EBIT | 96.7 | 83.2 | 16.3% compared to the previous year | |||
| Net result for the period | 49.2 | 49.2 | ||||
The overview for the three-month period up to 31 March 2025 is as follows:
| Q1 | Q1 | |||||
| 2025 | 2024 | growth | ||||
| million EUR | million EUR | |||||
| Sales volume | 246.9 | 238.3 | 3.6% year-on-year 2.4% year-on-year in constant currency | |||
| Gross Profit | 75.5 | 73.6 | 2.6% compared to the previous year | |||
| Gross Margin | 30.6% | 30.9% | ||||
| Adjusted EBITDA | 30.2 | 39.2 | -22.8% compared to the previous year | |||
| Adjusted EBITDA margin | 12.2% | 16.4% | ||||
| EBITDA | 33.0 | 36.0 | -8.2% compared to the previous year | |||
| EBIT | 24.1 | 26.6 | -9.5% compared to the previous year | |||
| Net result for the period | 11.2 | 16.6 | -32.2% compared to the previous year | |||
Nagarro SE will hold its analyst and investor meeting to discuss fiscal year 2024 and the first quarter of 2025 by video conference on May 15, 2025, at 1:00 PM CEST (4:00 AM PT / 6:00 AM CT / 7:00 AM ET / 12:00 PM BST / 3:00 PM GST / 4:30 PM IST / 7:00 PM SGT / 8:00 PM JST).
For retail investors, Nagarro SE will hold a call to discuss the fiscal year 2024 and the first quarter of 2025 on May 15, 2025 at 2:30 PM CEST (5:30 AM PT / 7:30 AM CT / 8:30 AM ET / 1:30 PM BST / 4:30 PM GST / 6:00 PM IST / 8:30 PM SGT / 9:30 PM JST).
To participate, please register in advance at https://www.nagarro.com/de/investor-relations/quarterly-statement-call-q1-2025
About Nagarro
Nagarro, a global leader in digital engineering, helps clients become fluid, innovative, digital-first companies and thereby succeed in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mentality, and its "Fluidic Enterprise" vision. Nagarro employs approximately 17,500 people and is present in 39 countries. For more information, please visit www.nagarro.com .
FRA: NA9 (ISIN DE000A3H2200, WKN A3H220)
For inquiries, please contact [email protected] .
May 15, 2025 CET/CEST Publication of a Corporate News/Financial News, transmitted by EQS News - a service of the EQS Group. The issuer is solely responsible for the content of this announcement. EQS Distribution Services include regulatory announcements, corporate/financial news and press releases. Media archive at https://eqs-news.com
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