14.08.2023 Nagarro SE  DE000A3H2200

EQS-News: Nagarro posts 16.5% YoY revenue growth in constant currency in H1 2023 despite global macroeconomic challenges


 

EQS-News: Nagarro SE / Key word(s): Half Year Results/Quarter Results
Nagarro posts 16.5% YoY revenue growth in constant currency in H1 2023 despite global macroeconomic challenges

14.08.2023 / 08:50 CET/CEST
The issuer is solely responsible for the content of this announcement.


August 14, 2023 - Nagarro, a global digital engineering leader, today presented its unaudited financial numbers for Q2 2023 and released its half-yearly report.

Nagarro’s superior client experience and its strategic diversification continued to deliver resilient growth in the face of global economic uncertainties. In Q2 2023, revenue grew to €226.8 million, up 8.0% YoY from €210.0 million in Q2 2022. Constant currency YoY revenue growth for Q2 2023 was 10.7%. Organic YoY revenue growth for the quarter was 8.7% in constant currency, which translated to 6.1% organic YoY revenue growth in Euro terms. Gross profit declined to €57.5 million in Q2 2023 from €60.2 million in Q2 2022. Due to excess production capacity which is reflected in the cost of revenues, gross margin dropped to 25.3% in Q2 2023 from 28.7% in Q2 2022. Adjusted EBITDA declined to €28.9 million (12.8% of revenue) in Q2 2023, from €40.2 million (19.1% of revenue) in Q2 2022.

EBITDA declined to €27.3 million in Q2 2023, from €39.4 million in Q2 2022. The main EBITDA adjustments were on account of the share payment expenses of €0.9 million and acquisition expenses of €0.7 million.  EBIT declined to €19.5 million in Q2 2023, from €31.1 million in Q2 2022. Net profit declined to €11.5 million in Q2 2023 against €22.4 million in Q2 2022.

The company added net 736 professionals in Q2 2023, 642 of which were via the acquired entities.

H1 results

Nagarro released its half-yearly report. Revenue grew to €456.4 million in H1 2023, up 15.4 % YoY from €395.6 million in H1 2022. Constant currency revenue growth for H1 2023 was 16.5%. Organic YoY revenue growth for H1 2023 was 14.9% in constant currency, which translated to 14.2% organic YoY revenue growth in Euro terms. Gross profit increased to €118.9 million in H1 2023 from €110.5 million in H1 2022. Gross margin dropped to 26.1% in H1 2023 from 27.9% in H1 2022. Adjusted EBITDA declined to €60.3 million (13.2 % of revenue) in H1 2023, from €69.1 million (17.5% of revenue) in H1 2022. EBITDA decreased to €58.1 million in H1 2023, from €67.2 million in H1 2022. EBIT declined to €42.6 million in H1 2023, from €51.6 million in H1 2022. Net profit declined to €26.6 million in H1 2023 against €36.3 million in H1 2022. The cash balance decreased by €10.8 million from December 31, 2022 to €99.3 million, mainly on account of buyback of shares.  

Manas Human, co-founder, said, “Nagarro has continued to grow and expand in H1, even as a digital engineering company in a business environment that has not been very conducive to discretionary spending. Though a few of our client projects had to scale back, fully 168 clients generated over 1 million Euro in revenue in the trailing twelve months to June 30, 2023, compared to just 131 for the same period a year ago. This reflects the growth dynamism that is present in most of Nagarro’s business. Our long-term investments in diversifying across geographies and industries have paid off. So has our long-term focus on superior client experience, exemplified by a Net Promoter Score of over 60, which drives client stickiness and loyalty in difficult times. Nagarro is taking strong steps to trim its cost base, but our strategy remains to prioritize long-term growth.”

Nagarro will hold its analyst meeting as a video call to discuss half-yearly report 2023 on August 14, 2023,  at 01:00 pm CEST (04:00 am PT / 06:00 am CT / 07:00 am ET / 12:00 pm BST / 03:00 pm GST / 04:30 pm IST /07:00pm SGT/08:00pm JST).To attend, please register in advance: https://web.lumiconnect.com/#/m/134797148.


About Nagarro

Nagarro, a global digital engineering leader, helps clients become 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 approach of thinking breakthroughs. Nagarro employs around 19,500 people in 35 countries. For more information, visit,  www.nagarro.com.

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

For inquiries, please contact [email protected].



14.08.2023 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: 1702475

 
End of News EQS News Service

1702475  14.08.2023 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 210,55 287,33 402,43 430,37 546,04 856,33 912,06
EBITDA1,2 21,36 32,28 61,58 66,18 70,26 145,56 121,28
EBITDA-Marge3 10,14 11,23 15,30 15,38 12,87 17,00
EBIT1,4 11,27 18,57 42,42 44,54 45,69 112,43 86,20
EBIT-Marge5 5,35 6,46 10,54 10,35 8,37 13,13 9,45
Jahresüberschuss1 3,65 8,17 30,40 24,36 30,00 77,32 52,14
Netto-Marge6 1,73 2,84 7,55 5,66 5,49 9,03 5,72
Cashflow1,7 5,54 8,58 40,87 69,44 43,96 82,30 77,66
Ergebnis je Aktie8 0,32 0,72 2,67 1,60 2,16 5,59 3,86
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Lohr & Company

INVESTOR-INFORMATIONEN
©boersengefluester.de
Nagarro
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A3H220 85,800 1.181,98
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
17,88 20,96 0,87 28,88
KBV KCV KUV EV/EBITDA
6,53 15,22 1,30 11,24
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00 27.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
14.05.2024 14.08.2024 14.11.2024 16.04.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
11,30% 9,10% -1,89% 2,51%
    
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IT-Services , A3H220 , NA9 , XETR:NA9