EQS-News: Nagarro SE posts 23.7% YoY revenue growth in Q1 2023, 22.9% in constant currency

EQS-News: Nagarro SE / Key word(s): Quarter Results/Quarterly / Interim Statement Nagarro SE posts 23.7% YoY revenue growth in Q1 2023, 22.9% in constant currency 15.05.2023 / 08:15 CET/CEST The issuer is solely responsible for the content of this announcement. May 15, 2023 - Nagarro, a global leader in digital engineering and technology solutions, today stated its unaudited financial numbers for Q1 2023 and released its three-month statement. Nagarro continued to grow into Q1 2023 in constant currency terms, with constant currency QoQ growth of 2.6% over Q4 2022. Revenue grew to €229.5 million in Q1 2023 from €185.5 million in Q1 2022. Q1 revenue grew 23.7% YoY (22.9% in constant currency), while YoY organic revenue growth was 22.2% (21.4% in constant currency). Gross profit grew to €61.4 million in Q1 2023 from €50.4 million in Q1 2022. Gross margin slightly dropped, changing from 27.1% in Q1 2022 to 26.8% in Q1 2023. Adjusted EBITDA grew by €2.4 million from €29.0 million (15.6% of revenue) in Q1 2022 to €31.4 million (13.7% of revenue) in Q1 2023. EBITDA increased by €2.9 million from €27.9 million in Q1 2022 to €30.8 million in Q1 2023. EBIT increased by €2.6 million from €20.5 million in Q1 2022 to €23.1 million in Q1 2023. Net profit increased by €1.2 million to €15.1 million in Q1 2023 from €13.9 million in Q1 2022. Operating cash inflow in Q1 2023 rose to €17.0 million from €2.9 million in Q1 2022. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, was 69 days on March 31, 2023, which was also its value on December 31, 2022. The company added a net 696 professionals in Q1 2023, with most of the net additions being trainees rather than lateral hires. “This is the first quarter for which we are sharing our Net Promoter Score or NPS. Our NPS of 65 shows that our clients love us as much as we love them”, said Vaibhav Gadodia, Managing Director and CTO. “Our clients and we are both eager for the economy to start moving again, so that we can accelerate the use of technology to drive their growth and ours.” Nagarro SE will hold its Q1 2023 earnings call on May 15, 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 / 07:00 pm SGT / 08:00 pm JST). To attend, please register in advance: https://web.lumiagm.com/170530490. 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 19,000 people in 34 countries. For more information, visit,  www.nagarro.com. FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220) For inquiries, please contact [e-mail]. 15.05.2023 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. 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
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:	1632469

End of News	EQS News Service

1632469  15.05.2023 CET/CEST