Nagarro announces Q1 '24 results, posts profitable growth
In Q1 2024, revenue grew to €238.3 million, up 7.6% QoQ from €221.4 million in Q4 2023 and up 8.7% QoQ in constant currency. Organic QoQ revenue growth for the quarter was 7.4% in Euro terms and 8.6% in constant currency. Revenue grew 3.8% YoY from €229.5 million in Q1 2023 and was up 5.0% YoY in constant currency, while organic revenue growth was a positive 2.9% YoY in Euro terms but a negative 0.4% YoY in constant currency. Gross profit grew to €63.9 million (as per the previous method) and was €73.6 million (as per the current method)* in Q1 2024 from €61.4 million (as per the previous method) in Q1 2023. Gross margin remained the same as in Q1 2023 at 26.8% (as per the previous method) and was 30.9% in Q1 2024 (as per the current method). Adjusted EBITDA grew by €7.8 million from €31.4 million (13.7% of revenue) in Q1 2023 to €39.2 million (16.4% of revenue) in Q1 2024.
EBITDA increased by €5.2 million from €30.8 million in Q1 2023 to €36.0 million in Q1 2024. EBIT increased by €3.6 million from €23.1 million in Q1 2023 to €26.6 million in Q1 2024. Net profit increased by €1.4 million to €16.6 million in Q1 2024 from €15.1 million in Q1 2023.
Operating cash inflow in Q1 2024 rose to €25.9 million from €17.0 million in Q1 2023. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, has improved slightly, from 84 days on
The Net Promoter Score from the customer satisfaction survey conducted in Q1 2024 was 66. The company reduced 145 professionals (net) in Q1 2024 to 18,268.
To attend, please register in advance at https://www.nagarro.com/en/investor-relations/quarterly-statement-call-q1-2024.
*
About
FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220)
For inquiries, please contact press@nagarro.com.
Logo: https://mma.prnewswire.com/media/844192/3850575/Nagarro_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/nagarro-announces-q1-24-results-posts-profitable-growth-302144527.html
SOURCE