Nagarro announces preliminary numbers for FY 2024: revenue grows to €972 million, Adjusted EBITDA margin to 15.1%
Nagarro, a global digital engineering leader, reported strong financial results for FY 2024, with revenue reaching €972.0 million, marking a 6.6% year-over-year growth.
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Rhea-AI Summary
Nagarro, a global digital engineering leader, reported strong financial results for FY 2024, with revenue reaching €972.0 million, marking a 6.6% year-over-year growth. The company achieved a constant currency growth of 7.2%.
Key financial highlights include:
- Gross margin improved to 30.4% under new accounting method
- Adjusted EBITDA increased to €146.5 million from €126.1 million
- EBITDA margin expanded to 15.1% from 13.8% in 2023
- Cash balance strengthened to €192.6 million from €110.1 million
The company maintained a workforce of 17,695 professionals by year-end. Despite macro headwinds, COO Vikram Sehgal expressed satisfaction with 2024's performance and confidence in 2025's start. The audited annual report and Q1 2025 statement will be released on May 15, 2025.
Positive
- Revenue grew 6.6% YoY to €972.0 million (7.2% in constant currency)
- Gross margin improved to 30.4% under new accounting method
- Adjusted EBITDA increased 16.2% YoY to €146.5 million
- EBITDA margin expanded to 15.1% from 13.8% in 2023
- Cash balance strengthened to €192.6 million from €110.1 million
Negative
- Loans and borrowings increased to €329.6 million from €274.7 million
- Revenue growth rate of 6.6% shows deceleration compared to previous years
- Headcount decreased to 17,695 professionals, indicating potential capacity constraints
Details
News Market Reaction – NGRRF
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- Revenue of
€972.0 million - Gross margin of
30.4% - Adj. EBITDA margin of
15.1%
Nagarro's cash balance at the end of 2024 was
Vikram Sehgal, COO and co-founder, said, "We are pleased to have delivered a robust 2024, despite the macro headwinds, and we have had a sound start into 2025. We are also excited about the many changes we are making to deliver profitable growth reliably in the years to come."
Nagarro will publish both the audited annual report for 2024 and the unaudited quarterly statement for Q1 2025 on May 15, 2025.
KPI | 2024 | 2023 | Estimated growth (preliminary, unaudited) |
Revenue | |||
Gross profit | N/A | ||
Gross profit | |||
Gross margin | 30.4 % | N/A | |
Gross margin | 26.1 % | 25.8 % | |
Adjusted EBITDA | |||
Adjusted EBITDA margin | 15.1 % | 13.8 % |
About Nagarro
Nagarro, a global digital engineering leader, helps clients become fluidic, 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 Fluidic Enterprise vision. Nagarro employs about 17,700 people in 38 countries. For more information, please visit www.nagarro.com.
(FRA: NA9) (SDAX/TecDAX: DE000A3H2200) (ISIN: DE000A3H2200) (WKN: A3H220)
For inquiries, please contact press@nagarro.com.
Logo: https://mma.prnewswire.com/media/844192/3850575/Nagarro_Logo.jpg
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