DGAP-News: Nagarro SE / Key word(s): Quarter Results 
Nagarro SE financial Q1 2021 statement: Nagarro reports significant sequential growth in the first quarter 
2021-05-14 / 11:57 
The issuer is solely responsible for the content of this announcement. 
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- YoY revenue growth of 4.3%, QoQ/sequential revenue growth of 6.2% 
- YoY adjusted EBITDA growth of 26.4% 
- Net addition of 1,084 professionals in this quarter, including fresh graduates 
- 2021 guidance unchanged 
 
May 14, 2021 - Nagarro, a global leader in digital engineering and technology solutions, today stated its unaudited 
financial numbers for Q1 2021, its first whole quarter as an independent company. Demand was strong for Nagarro's 
services, while supply was significantly constrained by hiring challenges in a hot jobs market. Revenue grew to EUR115.7 
million, up 4.3% YoY from EUR110.9 million in Q1 2020, and up 6.2% QoQ from EUR108.9 million in Q4 2020. Gross profit 
reduced slightly to EUR34.1 million from EUR35.0 million in Q1 2020. Gross margin reduced to 29.4% from 31.5% in Q1 2020. 
Adjusted EBITDA grew 26.4% YoY to EUR18.6 million (16.0% of revenue), up from EUR14.7 million (13.2% of revenue) in Q1 
2020. 
EBITDA grew 18.0% YoY to EUR17.3 million, up from EUR14.7 million in Q1 2020. EBIT grew 27.6% YoY to EUR11.8 million, from 
EUR9.2 million in Q1 2020. Net profit increased by 27.2% YoY to EUR7.7 million against EUR6.0 million in Q1 2020. The cash 
balance reduced by EUR8.6 million from December 31, 2020 to EUR99.2 million, primarily due to payment towards spin-off and 
listing liabilities of EUR6.0 million and acquisition liabilities of EUR3.4 million. 
"This quarter was notable for our upgrade of the hiring processes, and we eventually demonstrated our ability to sign 
on new talent at a fast clip," said Manas Fuloria, co-founder and Custodian of Entrepreneurship in the Organization. 
"We added over 1000 professionals in this quarter, net of attrition. While a portion of these are fresh graduates to be 
trained further, these volumes reflect both our improved hiring operations and our confidence in the demand outlook. 
The company retains its guidance for 2021." 
The company will offer an earnings call today (May 14) at 2 pm Central European Summer Time, which is 8 am in New York 
City and 8 pm in Singapore. The telephone dial-in numbers for audio and the URL for the online presentation can be 
found below and here. 
Key figures 
Three months period ended March 31                2021    2020 Change in percent 
                                                  kEUR    kEUR 
Revenue                                        115,724 110,909              4.3% 
Cost of revenue                                 81,715  75,999              7.5% 
Gross profit                                    34,054  34,954             -2.6% 
Adjusted EBITDA                                 18,559  14,678             26.4% 
 
Revenue by country 
Germany                                         30,554  31,251             -2.2% 
US                                              39,271  37,139              5.7% 
 
Revenue by industry 
Automotive, Manufacturing and Industrial        18,860  15,391             22.5% 
Energy, Utilities and Building Automation        9,412  10,184             -7.6% 
Financial Services and Insurance                13,055  12,697              2.8% 
Horizontal Tech                                 11,965   9,091             31.6% 
Life Sciences and Healthcare                     8,866   8,265              7.3% 
Management Consulting and Business Information   7,904   7,990             -1.1% 
Public, Non-profit and Education                 9,323   9,338             -0.2% 
Retail and CPG                                  16,067  12,940             24.2% 
Telecom, Media and Entertainment                 9,113  10,978            -17.0% 
Travel and Logistics                            11,161  14,035            -20.5% 
Three months period ended March 31     2021    2020 
                                    Percent Percent 
Revenue concentration 
Top 5                                 13.5%   13.6% 
Top 6-10                              10.1%   10.1% 
Outside of Top 10                     76.4%   76.3% 
Segment information 
Three months period ended March 31    2021   2020 Change in percent 
                                      kEUR   kEUR 
Central Europe 
Revenue                             41,958 42,224             -0.6% 
Cost of revenue                     29,253 29,229              0.1% 
Gross profit                        12,705 12,995             -2.2% 
North America 
Revenue                             39,272 37,337              5.2% 
Cost of revenue                     28,147 25,534             10.2% 
Gross profit                        11,125 11,803             -5.7% 
Rest of Europe 
Revenue                             18,048 16,823              7.3% 
Cost of revenue                     13,167 11,878             10.9% 
Gross profit                         4,925  4,990             -1.3% 
Rest of World 
Revenue                             16,447 14,525             13.2% 
Cost of revenue                     11,148  9,359             19.1% 
Gross profit                         5,299  5,166              2.6% Note: 

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 basis of total performance which is sum of revenue and own work capitalized. Earnings call information

The earnings call will involve a telephone dial-in for audio plus an online presentation.

Dial-in numbers:

+43 1 2675649 Austria local

+358 9 42720657 Finland local

+33 4 82 98 62 47 France local

+49 89 244184431 Germany local

+91 11 7127 9191 India local

+39 02 6006 3140 Italy local

+47 815 03 466 Norway local

+48 12 200 52 45 Poland local

+34 912 66 19 31 Spain local

+46 40 688 75 30 Sweden local

+44 1635 598062 United Kingdom local

+1 516-269-8983 United States local

Online presentation login: https://webcast.meetyoo.de/index.html?e=xBdP5D4jVm3p Legal notice:

The information contained in this document is provided as of the date of its publication and is subject to change without notice.

This document contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of Nagarro. Forward-looking statements involve known and unknown risks and uncertainties and, therefore actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. Nagarro does not undertake any obligation to update any of the forward-looking statements.

The figures presented for Q1 2021 are unaudited.

Gross profit, gross margin, adjusted EBITDA and adjusted EBITDA margin are non-IFRS financial measures. These and other non-IFRS financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with IFRS. You are cautioned not to place undue reliance on any non-IFRS financial measures included herein. Please find further explanations regarding our financial key performance indicators in chapter " Section A - VI. Financial Performance " in the Annual Report 2020 of the Company. These documents are available under the following internet link https:// www.nagarro.com/en/investor-relations/financial-reports-and-publications. --------------------------- For more information, visit www.nagarro.com For inquiries, please contact press@nagarro.com About Nagarro Nagarro (FRA: NA9) is a global digital engineering leader. They help clients to become innovative, digital-first companies and thus to win in their markets. Nagarro is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and of its approach of "Thinking Breakthroughs". As of December 31, 2020, the company employed over 8,600 people in 25 countries. For more information, visit www.nagarro.com. ISIN DE000A3H2200, WKN A3H220 -----------------------------------------------------------------------------------------------------------------------

2021-05-14 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------


Language:     English 
Company:      Nagarro SE 
              Einsteinstraße 172 
              81677 München 
              Germany 
Phone:        089 9984210 
Internet:     www.nagarro.com 
ISIN:         DE000A3H2200 
WKN:          A3H220 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1196788 
 
End of News   DGAP News Service 
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1196788 2021-05-14


 
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May 14, 2021 05:58 ET (09:58 GMT)