Brief: Nagarro Q1 revenue grew to EUR 238.3 mln, up 7.6% quarter on quarter

Nagarro SE

14/05/2024 06:59

May 14 (Reuters) - NAGARRO SE  NA9n.DE :
    * IN Q1 2024, REVENUE GREW TO EUR 238.3 MILLION, UP 7.6% QOQ
    * ORGANIC QOQ REVENUE GROWTH FOR QUARTER WAS 7.4% IN EURO
TERMS
AND 8.6% IN CONSTANT CURRENCY.
    * OPERATING CASH INFLOW IN Q1 2024 ROSE TO EUR 25.9 MILLION
FROM
EUR 17.0 MILLION IN Q1 2023
    * NAGARRO HAS REVISED DEFINITION OF COST OF REVENUES FROM Q1
2024
ONWARDS TO ALIGN IT BETTER WITH THAT OF OTHER IT SERVICES
COMPANIES
    * GROSS MARGIN REMAINED SAME AS IN Q1 2023 AT 26.8% (AS PER
PREVIOUS METHOD) AND WAS 30.9% IN Q1 2024 (AS PER CURRENT
METHOD)
    * ADJUSTED EBITDA GREW BY EUR 7.8 MILLION FROM EUR 31.4
MILLION
(13.7% OF REVENUE) IN Q1 2023 TO EUR 39.2 MILLION (16.4% OF
REVENUE) IN Q1 2024

Source text for Eikon:  ID:nEQccxgPza 
Further company coverage:  NA9n.DE 

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