Nagarro posts 33.7% YoY revenue growth in Q3 2021
FRANKFURT, Germany, Nov. 12, 2021 /PRNewswire/ -- 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.
Reflecting strong demand, revenue grew to
EBITDA increased by
Nine-month results
Nagarro's 9M 2021 revenues grew to
EBITDA decreased by
"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
Key figures – Quarterly
Q3 | Q3 | Q2 | ||||||||
2021 | 2020 | Change | 2021 | Change | ||||||
kEUR | kEUR | % | kEUR | % | ||||||
Revenue | 140,954 | 105,394 | 127,322 | |||||||
Cost of revenues | 100,991 | 70,532 | 89,328 | |||||||
Gross profit | 40,008 | 34,926 | 38,038 | |||||||
Adjusted EBITDA | 21,709 | 20,442 | 18,960 | |||||||
Revenue by country | ||||||||||
Germany | 32,229 | 27,353 | 30,754 | |||||||
US | 50,623 | 36,600 | 45,413 | |||||||
Revenue by industry | ||||||||||
Automotive, Manufacturing and Industrial | 24,882 | 15,776 | 21,123 | |||||||
Energy, Utilities and Building Automation | 11,852 | 9,159 | 10,875 | |||||||
Financial Services and Insurance | 17,503 | 13,918 | 14,687 | |||||||
Horizontal Tech | 13,883 | 8,496 | 12,020 | |||||||
Life Sciences and Healthcare | 9,607 | 6,902 | 9,149 | |||||||
Management Consulting and Business Information | 8,539 | 9,666 | - | 7,889 | ||||||
Public, Non-profit and Education | 10,355 | 6,746 | 11,107 | - | ||||||
Retail and CPG | 19,324 | 13,549 | 17,715 | |||||||
Telecom, Media and Entertainment | 10,517 | 9,792 | 9,483 | |||||||
Travel and Logistics | 14,491 | 11,390 | 13,273 | |||||||
Key figures – Nine months
Nine-month period ended September 30 | 2021 | 2020 | Change | |||
kEUR | kEUR | % | ||||
Revenue | 384,001 | 321,433 | ||||
Cost of revenues | 272,034 | 215,728 | ||||
Gross profit | 112,100 | 105,858 | ||||
Adjusted EBITDA | 59,228 | 56,134 | ||||
Revenue by country | ||||||
Germany | 93,538 | 85,709 | ||||
US | 135,307 | 111,674 | ||||
Revenue by industry | ||||||
Automotive, Manufacturing and Industrial | 64,865 | 45,310 | ||||
Energy, Utilities and Building Automation | 32,139 | 27,750 | ||||
Financial Services and Insurance | 45,245 | 40,681 | ||||
Horizontal Tech | 37,868 | 26,919 | ||||
Life Sciences and Healthcare | 27,622 | 23,223 | ||||
Management Consulting and Business Information | 24,331 | 25,530 | - | |||
Public, Non-profit and Education | 30,785 | 24,643 | ||||
Retail and CPG | 53,106 | 38,751 | ||||
Telecom, Media and Entertainment | 29,113 | 30,893 | - | |||
Travel and Logistics | 38,925 | 37,732 | ||||
Nine-month period ended September 30 | 2021 | 2020 | ||
% | % | |||
Revenue concentration (by customer) | ||||
Top 5 | ||||
Top 6-10 | ||||
Outside of Top 10 | ||||
Segment information
Nine-month period ended September 30 | 2021 | 2020 | Change | |||
kEUR | kEUR | % | ||||
Central Europe | ||||||
Revenue | 129,607 | 119,639 | ||||
Cost of revenues | 92,332 | 83,398 | ||||
Gross profit | 37,276 | 36,240 | ||||
North America | ||||||
Revenue | 135,636 | 111,674 | ||||
Cost of revenues | 96,892 | 72,121 | ||||
Gross profit | 38,743 | 39,553 | - | |||
Rest of Europe | ||||||
Revenue | 56,934 | 47,866 | ||||
Cost of revenues | 40,635 | 32,827 | ||||
Gross profit | 16,432 | 15,192 | ||||
Rest of World | ||||||
Revenue | 61,824 | 42,254 | ||||
Cost of revenues | 42,175 | 27,382 | ||||
Gross profit | 19,649 | 14,872 | ||||
Gross profit, gross margin and Adjusted EBITDA are neither required by, nor presented in accordance with, | ||||||
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. |
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SOURCE Nagarro