Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Germany
  4. Deutsche Boerse AG
  5. Nagarro SE
  6. News
  7. Summary
    NA9   DE000A3H2200

NAGARRO SE

(NA9)
  Report
Delayed Quote. Delayed Deutsche Boerse AG - 01/21 11:27:15 am
158 EUR   -1.25%
01/21NAGARRO SE : Nagarro joins forces with Techmill Global
EQ
01/14NAGARRO : Jefferies reiterates its Neutral rating
MD
01/14NAGARRO SE : Guidance FY 2022
EQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Nagarro posts 33.7% YoY revenue growth in Q3 2021

11/12/2021 | 05:00am EST

FRANKFURT, Germany, Nov. 12, 2021 /CNW/ -- Nagarro, a global leader in digital engineering and technology solutions, today stated its unaudited financial numbers for Q3 2021 and released its nine-month statement.

Nagarro_Logo

Reflecting strong demand, revenue grew to €141.0 million in Q3 2021, up 33.7% YoY from €105.4 million in Q3 2020, and up 10.7% QoQ from € 127.3 million in Q2 2021. Constant currency YoY revenue growth for Q3 2021 was 33.6%. Gross profit grew to €40.0 million in Q3 2021 from €34.9 million in Q3 2020. Gross margin dropped, changing from 33.1% in Q3 2020 to 28.4% in Q3 2021. Adjusted EBITDA grew by €1.3 million from €20.4 million (19.4% of revenue) in Q3 2020 to €21.7 million (15.4% of revenue) in Q3 2021. It may be noted that Q3 2020 also included the effect of salary cuts in response to the onset of the Covid-19 pandemic. In addition, wage inflation and the carrying of a large number of trainees weighed on the gross margin and on the Adjusted EBITDA in Q3 2021 despite some relief from reduced travel and reduced utility bills.

EBITDA increased by €1.6 million from €17.6 million in Q3 2020 to €19.2 million in Q3 2021. Our most significant adjustments to EBITDA in Q3 2021 are the expense on stock option of €1.6 million and expenses of €0.5 million related to the rollover of non-controlling interest. EBIT increased by €1.1 million from €12.4 million in Q3 2020 to €13.4 million in Q3 2021. Net profit decreased by €0.7 million to €8.4 million in Q3 2021 from €9.1 million in Q3 2020.

Nine-month results

Nagarro's 9M 2021 revenues grew to €384.0 million, up from €321.4 million for the same period in 2020, a growth of 19.5%. In constant currency, the revenue growth was 22.1%. Gross profit grew to €112.1 million in 9M 2021 from €105.9 million in 9M 2020. Gross margin dropped, changing from 32.9% in 9M 2020 to 29.2% in 9M 2021. Adjusted EBITDA grew 5.5% from €56.1 million (17.5% of revenue) in 9M 2020 to €59.2 million (15.4% of revenue) in 9M 2021.

EBITDA decreased  by €1.4 million from €53.3 million in 9M 2020 to €51.9 million in 9M 2021. EBIT decreased by €2.5 million from €37.3 million in 9M 2020 to €34.8 million in 9M 2021. Net profit decreased by €2.5 million to €21.7 million in 9M 2021 against €24.2 million in 9M 2020.

"Nagarro's revenue growth continued, despite an overheated job market," said Vaibhav Gadodia, Managing Director. "We again added over 1,100 professionals in this quarter, including fresh graduates, net of attrition. The company has raised its revenue guidance for 2021 to €525 million, while it retains its gross margin and Adjusted EBITDA margin guidance." The company will offer an earnings video call (webcast) on November 12 at 10 am Central European Time, which is 4 am in New York City and 5 pm in Singapore. To participate in the earnings video call, participants can register here for the webcast.


Key figures – Quarterly



Q3


Q3




Q2





2021


2020


Change


2021


Change



kEUR


kEUR


%


kEUR


%












Revenue


140,954


105,394


33.7%


127,322


10.7%

Cost of revenues


100,991


70,532


43.2%


89,328


13.1%

Gross profit


40,008


34,926


14.5%


38,038


5.2%

Adjusted EBITDA


21,709


20,442


6.2%


18,960


14.5%












Revenue by country











Germany


32,229


27,353


17.8%


30,754


4.8%

US


50,623


36,600


38.3%


45,413


11.5%












Revenue by industry











Automotive, Manufacturing and Industrial


24,882


15,776


57.7%


21,123


17.8%

Energy, Utilities and Building Automation


11,852


9,159


29.4%


10,875


9.0%

Financial Services and Insurance


17,503


13,918


25.8%


14,687


19.2%

Horizontal Tech


13,883


8,496


63.4%


12,020


15.5%

Life Sciences and Healthcare


9,607


6,902


39.2%


9,149


5.0%

Management Consulting and Business Information


8,539


9,666


-11.7%


7,889


8.2%

Public, Non-profit and Education


10,355


6,746


53.5%


11,107


-6.8%

Retail and CPG


19,324


13,549


42.6%


17,715


9.1%

Telecom, Media and Entertainment


10,517


9,792


7.4%


9,483


10.9%

Travel and Logistics


14,491


11,390


27.2%


13,273


9.2%












 

Key figures – Nine months

Nine-month period ended September 30


2021


2020


Change



kEUR


kEUR


%








Revenue


384,001


321,433


19.5%

Cost of revenues


272,034


215,728


26.1%

Gross profit


112,100


105,858


5.9%

Adjusted EBITDA


59,228


56,134


5.5%








Revenue by country







Germany


93,538


85,709


9.1%

US


135,307


111,674


21.2%








Revenue by industry







Automotive, Manufacturing and Industrial


64,865


45,310


43.2%

Energy, Utilities and Building Automation


32,139


27,750


15.8%

Financial Services and Insurance


45,245


40,681


11.2%

Horizontal Tech


37,868


26,919


40.7%

Life Sciences and Healthcare


27,622


23,223


18.9%

Management Consulting and Business Information


24,331


25,530


-4.7%

Public, Non-profit and Education


30,785


24,643


24.9%

Retail and CPG


53,106


38,751


37.0%

Telecom, Media and Entertainment


29,113


30,893


-5.8%

Travel and Logistics


38,925


37,732


3.2%








 






Nine-month period ended September 30


2021


2020



%


%

Revenue concentration (by customer)





Top 5


14.3%


13.8%

Top 6-10


11.0%


10.1%

Outside of Top 10


74.7%


76.1%






 

Segment information

 

Nine-month period ended September 30


2021


2020


Change



kEUR


kEUR


%

Central Europe







Revenue


129,607


119,639


8.3%

Cost of revenues


92,332


83,398


10.7%

Gross profit


37,276


36,240


2.9%








North America







Revenue


135,636


111,674


21.5%

Cost of revenues


96,892


72,121


34.3%

Gross profit


38,743


39,553


-2.0%








Rest of Europe







Revenue


56,934


47,866


18.9%

Cost of revenues


40,635


32,827


23.8%

Gross profit


16,432


15,192


8.2%








Rest of World







Revenue


61,824


42,254


46.3%

Cost of revenues


42,175


27,382


54.0%

Gross profit


19,649


14,872


32.1%









Gross profit, gross margin and Adjusted EBITDA are neither required by, nor presented in accordance with,
IFRS. Non-IFRS measures should not be considered in isolation or as a substitute for results under IFRS.

Gross profit is calculated on the basis of total performance which is sum of revenue and own work capitalized.

Rounding differences may arise when individual amounts or percentages are added together.

 

Cision
View original content:https://www.prnewswire.com/news-releases/nagarro-posts-33-7-yoy-revenue-growth-in-q3-2021--301422912.html

SOURCE Nagarro

© Canada Newswire, source Canada Newswire English

All news about NAGARRO SE
01/21NAGARRO SE : Nagarro joins forces with Techmill Global
EQ
01/14NAGARRO : Jefferies reiterates its Neutral rating
MD
01/14NAGARRO SE : Guidance FY 2022
EQ
01/14Nagarro SE Provides Revenue Guidance For 2022
CI
2021NAGARRO SE(XTRA : NA9) added to Germany TECDAX Index (Price Return)
CI
2021NAGARRO SE(XTRA : NA9) added to Germany TECDAX (Total Return) Index
CI
2021NAGARRO SE : Raised guidance FY 2021
EQ
2021Nagarro SE Raises Earnings Guidance for the Fiscal Year 2021
CI
2021NAGARRO SE : Deutsche Börse includes Nagarro in TecDAX index
EQ
2021Nagarro partners with BioT to deliver best-in-class software for medical devices
AQ
More news
Analyst Recommendations on NAGARRO SE
More recommendations
Financials
Sales 2021 533 M 605 M 605 M
Net income 2021 22,7 M 25,7 M 25,7 M
Net Debt 2021 95,2 M 108 M 108 M
P/E ratio 2021 85,7x
Yield 2021 -
Capitalization 2 177 M 2 469 M 2 469 M
EV / Sales 2021 4,26x
EV / Sales 2022 3,14x
Nbr of Employees 12 052
Free-Float -
Chart NAGARRO SE
Duration : Period :
Nagarro SE Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 158,00 €
Average target price 197,33 €
Spread / Average Target 24,9%
EPS Revisions
Managers and Directors
Manas Chandra Fuloria Chairman-Management Board
Carl Georg DŘrschmidt Chairman-Supervisory Board
Vikram Sehgal Chief Operating Officer
Detlef Dinsel Vice Chairman-Supervisory Board
Shalini Sarin Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
NAGARRO SE-21.39%2 469
ACCENTURE PLC-19.04%212 118
TATA CONSULTANCY SERVICES LTD.2.55%190 800
INTERNATIONAL BUSINESS MACHINES CORPORATION-3.22%116 001
INFOSYS LIMITED-5.41%100 701
AUTOMATIC DATA PROCESSING, INC.-10.65%91 495