EQS-News: Nagarro releases audited financial results for 2022, announces share buyback
EQS-News: Nagarro SE
/ Key word(s): Annual Results/Share Buyback
Nagarro releases audited financial results for 2022, announces share buyback
14.04.2023 / 16:08 CET/CEST
The issuer is solely responsible for the content of this announcement.
Constant currency YoY revenue growth for Q4 2022 was 33.4%, while constant currency YoY organic revenue growth for Q4 2022 was 27.5%. Gross profit grew to €66.8 million in Q4 2022 from €42.3 million in Q4 2021. Gross margin increased to 28.9% in Q4 2022 from 26.1% in Q4 2021. Adjusted EBITDA grew by €10.4 million from €20.5 million (12.6% of revenue) in Q4 2021 to €30.9 million (13.4% of revenue) in Q4 2022. EBITDA grew by €12.3 million from €18.3 million in Q4 2021 to €30.7 million in Q4 2022. EBIT increased by €10.8 million from €10.9 million in Q4 2021 to €21.7 million in Q4 2022. Net profit increased by €7.0 million to €15.4 million in Q4 2022 from €8.3 million in Q4 2021.
Operating cash flow in Q4 2022 rose to €36.8 million from €22.9 million in Q4 2021, and from €30.5 million in Q3 2022. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, dropped to 69 on December 31, 2022, from 71 on December 31, 2021, and from 79 on September 30, 2022.
The company added a net of 163 professionals in Q4 2022, including trainees and lateral hires.
Yearly results
Nagarro’s 2022 revenues grew to €856.3 million, up from €546.0 million in 2021, a growth of 56.8%. In constant currency, the revenue growth was 48.0%. Organic revenue growth for 2022 was 47.3%. Constant currency organic revenue growth for 2022 over 2021 was 39.3%. Gross profit grew to €247.1 million in 2022 from €154.4 million in 2021. Gross margin increased from 28.3% in 2021 to 28.9% in 2022. Adjusted EBITDA grew 86.3% from €79.7 million (14.6% of revenue) in 2021 to €148.5 million (17.3% of revenue) in 2022. EBITDA increased by €75.3 million from €70.3 million in 2021 to €145.6 million in 2022. EBIT increased by €66.7 million from €45.7 million in 2021 to €112.4 million in 2022. Net profit increased by €47.3 million to €77.3 million in 2022 against €30.0 million in 2021.
Share buyback
The Supervisory Board of Nagarro SE today approved a share repurchase program with authorization to purchase Nagarro shares for up to €30 million.
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 18,000 people in 33 countries. For more information, visit, www.nagarro.com.
FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220)
For inquiries, please contact press@nagarro.com.
14.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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1608327 14.04.2023 CET/CEST