Business
Nagarro announces preliminary numbers for FY 2024: revenue grows to €972 million, Adjusted EBITDA margin to 15.1%
Nagarro, a global digital engineering leader, today announced its preliminary unaudited financial numbers for its full year ended December 31, 2024. Revenue grew to €972.0 million in 2024, up from €912.1 million in 2023, a YoY growth of 6.6%. The constant currency growth in annual revenue was 7.2%. Nagarro has revised the definition of cost of revenues from Q1 2024 onwards to align it better with that of other IT services companies. Gross profit in 2024 grew to €295.8 million as per the current
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[{"type":"list","items":[{"val":[{"type":"text","content":"Revenue of €972.0 million","length":25,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross margin of 30.4%","length":21,"tagName":"p"}]},{"val":[{"type":"text","content":"Adj. EBITDA margin of 15.1%","length":27,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":73,"olType":false},{"type":"text","content":"MUNICH, April 29, 2025 /CNW/ -- Nagarro, a global digital engineering leader, today announced its preliminary unaudited financial numbers for its full year ended December 31, 2024. Revenue grew to €972.0 million in 2024, up from €912.1 million in 2023, a YoY growth of 6.6%. The constant currency growth in annual revenue was 7.2%. Nagarro has revised the definition of cost of revenues from Q1 2024 onwards to align it better with that of other IT services companies. Gross profit in 2024 grew to €295.8 million as per the current method (30.4% gross margin) and €253.9 million as per the previous method (26.1% gross margin), up from €235.7 million in 2023 as per the previous method (25.8% gross margin). Adjusted EBITDA grew to €146.5 million in 2024 from €126.1 million in 2023. Adjusted EBITDA margin grew to 15.1% in 2024, up from 13.8% in 2023.","length":937,"tagName":"p"},{"type":"image","alt":"Nagarro_Logo","displaySize":"","headline":null,"caption":"Nagarro_Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":300,"url":"https://media.zenfs.com/en/cnwgroup.com/9e35894697f42eeff290d8bdf69b8ee0"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/FydL15rKuhOMgTa8onjS_A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUyOTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/9e35894697f42eeff290d8bdf69b8ee0","width":400,"height":300}}},{"type":"text","content":"Nagarro's cash balance at the end of 2024 was €192.6 million as against €110.1 million at the end of 2023. Nagarro's loans and borrowings at the end of 2024 were €329.6 million as against €274.7 million at the end of 2023. The company reported 17,695 professionals as of December 31, 2024.","length":322,"tagName":"p"},{"type":"text","content":"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 st...