- Revenues grew 28.6% in constant currency YoY; Adjusted EBITDA
is 14.6% of revenue
- Net addition of over 5,000 employees
- Inclusion in SDAX and TecDAX among milestones in 2021
MUNICH, April 29, 2022 /PRNewswire/ -- Nagarro, a
global leader in digital engineering, today presented its audited
financial numbers for 2021, its first full year as an independent
company. In addition to the strong growth, the inclusion in the
SDAX and the TecDAX of Deutsche Börse were particular highlights of
the 2021 financial year. Demand was strong for Nagarro's services,
while the supply of talent remained constrained. Revenues grew to
€546.0 million in 2021 from €430.4 million in 2020, a growth of
26.9%. In constant currency, 2021 YoY revenue growth was 28.6%.
Gross profit grew in 2021 to €154.4 million from €140.2 million in
2020. Gross margin dropped, changing from 32.6% in 2020 to 28.3% in
2021. Adjusted EBITDA grew 4.6% from €76.2 million (17.7% of
revenue) in 2020 to €79.7 million (14.6% of revenue) in 2021. It
may be noted that 2020 included the effect of salary cuts in
response to the onset of the Covid-19 pandemic.
EBITDA increased by €4.1 million from €66.2 million in 2020 to
€70.3 million in 2021. EBIT increased by €1.2 million from €44.5
million in 2020 to €45.7 million in 2021. Net profit increased by
€5.6 million to €30.0 million in 2021 against €24.4 million in
2020.
The annual report also carried results for Q4 2021. Notably, Q4
2021 revenues grew YoY by 48.7% over Q4 2020 and grew QoQ by 15.0%
over Q3 2021.
Sandeep Anand, Managing Director,
said, "Nagarro continues to benefit from the surge in demand
for digital engineering services. At the same time, this rapid
growth demonstrates the inherent resilience and agility of
Nagarro's organizational design and culture."
Download Nagarro's 2021 Annual Report
at https://annualreport.nagarro.com
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 15,000 people in 28
countries. For more information, visit www.nagarro.com.
FRA: NA9 (SDAX, ISIN DE000A3H2200, WKN A3H220)
For inquiries, please contact press@nagarro.com
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