Munich [Germany], April 30 (ANI/PRNewswire): Nagarro, a global leader in digital engineering, today presented its audited financial numbers for 2021, its first full year as an independent company.
In addition to the strong growth, the inclusion in the SDAX and the TecDAX of Deutsche Borse were particular highlights of the 2021 financial year. Demand was strong for Nagarro’s services, while the supply of talent remained constrained. Revenues grew to Euro 546.0 million in 2021 from Euro 430.4 million in 2020, a growth of 26.9 per cent.
In constant currency, 2021 YoY revenue growth was 28.6 per cent. Gross profit grew in 2021 to Euro 154.4 million from Euro 140.2 million in 2020. Gross margin dropped, changing from 32.6 per cent in 2020 to 28.3 per cent in 2021. Adjusted EBITDA grew 4.6 per cent from Euro 76.2 million (17.7 per cent of revenue) in 2020 to Euro 79.7 million (14.6 per cent of revenue) in 2021. It may be noted that 2020 included the effect of salary cuts in response to the onset of the Covid-19 pandemic.
EBITDA increased by Euro 4.1 million from Euro 66.2 million in 2020 to Euro 70.3 million in 2021. EBIT increased by Euro 1.2 million from Euro 44.5 million in 2020 to Euro 45.7 million in 2021. Net profit increased by Euro 5.6 million to Euro 30.0 million in 2021 against Euro 24.4 million in 2020.
The annual report also carried results for Q4 2021. Notably, Q4 2021 revenues grew YoY by 48.7 per cent over Q4 2020 and grew QoQ by 15.0 per cent over Q3 2021.
Sandeep Anand, Managing Director, said, “Nagarro continues to benefit from the surge in demand for digital engineering services. At the same time, this rapid growth demonstrates the inherent resilience and agility of Nagarro’s organizational design and culture.”
Download Nagarro’s 2021 Annual Report at https://annualreport.nagarro.com
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 15,000 people in 28 countries. For more information, visit www.nagarro.com.
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