The IT service provider Nagarro increased in 2024 despite the subdued demand.
Sales rose by 6.6 percent to EUR 972 million in a preliminary basis in the year, as the company listed in the SDAX surprisingly announced on Tuesday in Munich. Adjusted for currency effects, the plus was 7.2 percent. The company has revised the definition of sales costs from the first quarter of last year in order to better adapt it to that of other IT service companies, it said.
At the end of last week, Nagarro SE announced that it would move the publication of the certified annual report for 2024, which would probably lead to a temporary exclusion from the SDAX. The share price then broke in on Monday. On Tuesday, he recovered a bit with an increase of around 6 percent. Since the turn of the year, the paper has lost more than a fifth of value.
An exclusion from the DAX family because of a not timely publication of the numbers had also felt other companies before Nagarro. Finally, it hit Varta and Evotec (Evotec SE).
The adjusted operational profit (EBITDA) attracted a good 16 percent to 146.5 million euros last year. The corresponding margin improved to 15.1 percent after 13.8 percent in the previous year. According to analyst Martin Comtesse from the Jefferies analysis house, the final quarter has shown less sales dynamics, but has significantly better profitability.
The main focus is now on how strongly the adjustments in terms of goodwill due to corrected purchase price allocations have had a retrospective on the profit and loss account. In addition, the Jefferies expert pointed out that the board wants to continue to release a dividend between 10 and 20 percent of the result before interest and taxes (EBIT) to the shareholders.
Nagarro plans to publish both the certified annual report for 2024 and its unchecked quarterly notification on May 15, 2025 for the first quarter of 2025.
The Nagarro share temporarily notes 4.56 percent higher at 61.90 euros via Xetra.
/MNE/MIS
Munich (dpa-Afx)
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