Nagarro SE posts 65.0% YoY revenue growth in Q2
|
DGAP-News: Nagarro SE
/ Key word(s): Half Year Results/Half Year Report
August 12, 2022 – Nagarro, a global digital engineering leader, today presented its unaudited key financial numbers for Q2 2022 (April 1 to June 30, 2022) as part of its half-yearly financial report 2022. Nagarro carried over its revenue momentum from Q1 2022 into Q2 2022. Demand continued to be strong and appeared unaffected by the looming possibility of a slowdown in the economy. Revenue grew to €210.0 million in Q2 2022, up 65.0% YoY from €127.3 million in Q2 2021, and up 13.2% QoQ from €185.5 million in Q1 2022. Constant currency YoY revenue growth for Q2 2022 was 55.7%. Gross profit increased to €60.2 million in Q2 2022 from €38.0 million in Q2 2021. Gross margin dropped to 28.7% in Q2 2022 from 29.9% in Q2 2021. Adjusted EBITDA grew by 111.9% YoY to €40.2 million (19.1% of revenue) in Q2 2022, from €19.0 million (14.9% of revenue) in Q2 2021. EBITDA in Q2 2022 grew by 156.2% YoY to €39.4 million, from €15.4 million in Q2 2021. The main EBITDA adjustment was on account of stock option expense of €0.8 million. EBIT increased by 224.0% YoY to €31.1 million, from €9.6 million in Q2 2021. Net profit increased by 296.3% YoY to €22.3 million against €5.6 million in Q2 2021. The company added a net 872 professionals in Q2 2022 – a number that includes trainees and lateral hires. Dipika Srivastava, a Nagarrian in Lucknow, India, who works on cloud, web APIs and Microservices, said: “Each and every Nagarrian is thrilled at the growth we have been able to achieve. Nagarro is clearly making its mark as the world’s leading provider of agile technology services.” H1 results Nagarro released its half-yearly financial report. Revenue grew to €395.6 million in H1 2022 (January 1 to June 30, 2022), up 62.8 % YoY from €243.0 million in H1 2021. Constant currency revenue growth for H1 2022 was 55.6%. Gross profit increased to €110.5 million in H1 2022 from €72.1 million in H1 2021. Gross margin dropped to 27.9% in H1 2022 from 29.7% in H1 2021. Adjusted EBITDA grew 84.3 % YoY to €69.1 million (17.5 % of revenue) in H1 2022, up from €37.5 million (15.4% of revenue) in H1 2021. EBITDA increased by 105.7 % YoY to €67.2 million, from €32.7 million in H1 2021. EBIT increased by 141.2 % YoY to €51.6 million, from €21.4 million in H1 2021. Net profit increased by 172.4 % YoY to €36.2 million against €13.3 million in H1 2021. The cash balance decreased by €34.5 million from December 31, 2021 to €72.1 million, mainly on account of expenses related to various acquisitions. Nagarro will hold its analyst meeting as a video call to discuss half-yearly financial report 2022 on August 12, 2022, 1:30 pm CEST (Berlin), which corresponds to 12:30 pm BST (London), 7:30 am EDT (New York City), 4:30 am PDT (San Francisco), 7:30 pm SGT (Singapore), 8:30 pm JST (Tokyo) and 5:00 pm IST (New Delhi). Please feel free to register here for our earnings video call.
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 over 16,800 people and is present in 31 countries. For more information, www.nagarro.com. FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220) For inquiries, please contact press@nagarro.com.
12.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Nagarro SE |
| Einsteinstraße 172 | |
| 81677 München | |
| Germany | |
| Phone: | 089 9984210 |
| 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: | 1419199 |
| End of News | DGAP News Service |
|
|
1419199 12.08.2022 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.