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Nagarro releases audited results for 2023 -- annual revenue grew 9.4% in constant currency

MUNICH, April 16, 2024 /CNW/ -- Today, Nagarro, a global digital engineering leader, presented its audited financial numbers for 2023 and its Annual Report for 2023. FY 2023 shows consistent performance and 6.5% revenue growth. Revenue grew to €912.1 million in 2023, up from €856.3 million in 2022, a YoY growth of 6.5%. The constant currency growth in annual revenue was 9.4%. The company had guided for revenue to be in the region of €915 million. Gross profit and Adjusted EBITDA were affected by excess capacity throughout the year because of moderation in growth. Gross profit was €235.7 million in 2023, against €247.1 million in 2022. Gross margin was 25.8% in 2023 against the guidance of 26% and compared to 28.9% in 2022. Adjusted EBITDA ...