Nagarro slides after postponing FY results due to audit delay

Nagarro SE

28/04/2025 07:43

** Shares in Nagarro NA9n.DE slump 9.6% in early Frankfurt trade after the German digital engineering group on Friday said it would postpone its FY results as additional time is needed to complete the audit process

** "This slight delay in publication of the audited annual report will probably lead to the temporary exclusion of Nagarro shares from the TecDAX .TECDAX and SDAX .SDAXI indices of Deutsche Boerse DB1Gn.DE," Nagarro said

** The company said that on the basis of the use of a rectified approach for the purchase price allocations of acquisitions and the treatment of earn-out liabilities, there will be a reduction in goodwill, an increase in other intangibles, and a reduction in liabilities

** "This will have an impact on 2023 profit and loss statement, but will not change 2023 adj. EBITDA," it added

** "New uncertainty weighs on shares," a local trader says

** The German company confirmed its FY guidance and dividend for 2024

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))