MUNICH, April 15, 2023 /PRNewswire/ –┬áNagarro, a global digital engineering leader, today presented its audited financial numbers for 2022 and its Annual Report for 2022. Revenue was Ôé¼231.0┬ámillion┬áin Q4 2022, up 42.5%┬áYoY from Ôé¼162.0┬ámillion┬áin Q4 2021. FY 2022 revenue was Ôé¼856.3┬ámillion, implying a YoY revenue growth of 56.8%. The constant currency growth in annual revenue was 48.0%, and the constant currency organic growth in annual revenue was 39.3%.
Constant currency YoY revenue growth for Q4 2022 was 33.4%, while constant currency YoY organic revenue growth for Q4 2022 was 27.5%.┬áGross profit grew to Ôé¼66.8┬ámillion┬áin Q4 2022 from Ôé¼42.3┬ámillion┬áin Q4 2021. Gross margin increased to 28.9%┬áin Q4 2022 from 26.1%┬áin Q4 2021. Adjusted EBITDA grew by Ôé¼10.4┬ámillion┬áfrom Ôé¼20.5┬ámillion┬á(12.6%┬áof revenue) in Q4 2021 to┬á Ôé¼30.9┬ámillion┬á(13.4%┬áof revenue) in Q4 2022. EBITDA grew by Ôé¼12.3┬ámillion┬áfrom Ôé¼18.3┬ámillion┬áin Q4 2021 to Ôé¼30.7┬ámillion┬áin Q4 2022. EBIT increased by Ôé¼10.8┬ámillion┬áfrom Ôé¼10.9┬ámillion┬áin Q4 2021 to Ôé¼21.7┬ámillion┬áin Q4 2022. Net profit increased by Ôé¼7.0┬ámillion┬áto Ôé¼15.4┬ámillion in Q4 2022 from Ôé¼8.3┬ámillion in Q4 2021.
Operating cash flow in Q4 2022 rose to Ôé¼36.8┬ámillion┬áfrom Ôé¼22.9┬ámillion┬áin Q4 2021, and from Ôé¼30.5 million in Q3 2022. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, dropped to 69 on December 31, 2022, from 71 on December 31, 2021, and from 79 on September 30, 2022.
The company added a net of 163 professionals in Q4 2022, including trainees and lateral hires.
Yearly results
Nagarro’s 2022 revenues grew to Ôé¼856.3┬ámillion, up from Ôé¼546.0┬ámillion┬áin 2021, a growth of 56.8%. In constant currency, the revenue growth was 48.0%. Organic revenue growth for 2022 was 47.3%. Constant currency organic revenue growth for 2022 over 2021 was 39.3%. Gross profit grew to Ôé¼247.1┬ámillion┬áin 2022 from Ôé¼154.4┬ámillion┬áin 2021. Gross margin increased from 28.3%┬áin 2021 to 28.9%┬áin 2022. Adjusted EBITDA grew 86.3%┬áfrom Ôé¼79.7┬ámillion┬á(14.6%┬áof revenue) in 2021 to Ôé¼148.5┬ámillion┬á(17.3%┬áof revenue) in 2022. EBITDA increased by Ôé¼75.3┬ámillion┬áfrom Ôé¼70.3┬ámillion┬áin 2021 to Ôé¼145.6┬ámillion┬áin 2022. EBIT increased by Ôé¼66.7┬ámillion┬áfrom Ôé¼45.7┬ámillion┬áin 2021 to Ôé¼112.4┬ámillion┬áin┬á 2022. Net profit increased by Ôé¼47.3┬ámillion┬áto Ôé¼77.3┬ámillion┬áin 2022 against Ôé¼30.0┬ámillion┬áin 2021.
Share buyback
The Supervisory Board of Nagarro SE today approved a share repurchase program with authorization to purchase Nagarro shares for up to Ôé¼30 million.
About Nagarro
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 18,000 people in 33 countries. For more information, visit, www.nagarro.com.
FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220)
For inquiries, please contact press@nagarro.com.
 
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SOURCE Nagarro
