Annual Report 2020: A year of transformation for digital engineering company Nagarro SE
- Spin-off, listing and new brand identity among milestones in 2020
- Revenue increase of 7% to €430.4 million despite the impact of the Covid-19 pandemic
MUNICH, May 3, 2021 /PRNewswire/ -- 2020 was an eventful year for Nagarro, a global leader in digital product engineering. While Covid-19 impaired normal life and rattled the global economy, Nagarro prepared and executed the spin-off from the former parent company Allgeier SE and listed on the stock exchange in December 2020. In the run-up to this step, the company also unveiled a new brand identity that better reflected the company's ethos and values.
Thanks to its diversified base of 750 blue chip customers from 50 countries and the resilient demand for digital solutions, Nagarro performed well despite the ongoing pandemic. Nagarro's revenue grew from €402.4 million in 2019 to €430.4 million in 2020, (+7%). The adjusted EBITDA, a non-IFRS number, grew by 38% from €55.0 million in 2019 to €76.2 million in 2020. "Many of our clients and colleagues faced a challenging 2020," said Cindy Wolf, a Nagarro Managing Director based in New York City. "We were yet able to continue to develop and grow as a company, building new, important digital products and services for our clients."
Nagarro successfully pursued the plan of splitting from its parent company Allgeier and listing on its own. On December 16, 2020, Nagarro SE got listed in the Prime Standard of the Frankfurt Stock Exchange with an initial quotation of €69.00 and closed on December 30, 2020 with an increase of around 32% at €91.00. In the run-up to the listing, Nagarro also introduced a new logo, branding, and website. This was implemented in-house with the marketing and design team and underlined Nagarro's friendly, humanistic character.
Over many years, Nagarro has invested in building a modern, agile, entrepreneurial, and human-centric company with a distinctive organizational design and culture. As a virtual, global company with no headquarters, Nagarro places special emphasis on its unique corporate value of "CARING" – an acronym for Client-centric, Agile, Responsible, Intelligent, Non-hierarchical, and Global. In a year of disruption, Nagarro's organizational design allowed for a smooth continuation of daily operations and rapid adjustments to changing market circumstances. "The past year has shown that, thanks to our agility and our unique CARING culture, we can emerge stronger from a crisis," says Neeraj Chhibba, a member of Nagarro's Finance Council. "We are convinced that our values, our capabilities and our client relationships form a strong basis for sustainable future success."
- Download Nagarro's 2020 Annual Report- https://annualreport.nagarro.com
About Nagarro
Nagarro (FRA: NA9) is a global digital engineering leader. They help clients to become innovative, digital-first companies and thus to win in their markets. Nagarro is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and of its approach of "Thinking Breakthroughs". As of December 31, 2020, the company employed over 8,600 people in 25 countries. For more information, visit www.nagarro.com
ISIN DE000A3H2200, WKN A3H220
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