Nagarro will commence trading on the Frankfurt Stock Exchange
Company poised to grow global market share in the digital services market
London, NFAPost: Nagarro SE, a global leader in digital engineering and technology solutions, today announced its debut as an independent, publicly-traded company and the completion of its spin-off from Allgeier SE.
The company’s common shares will begin trading today on the Frankfurt Stock Exchange (Prime Standard) under the symbol “NA9”. Under the terms of the spin-off, one (1) share of Nagarro SE for every one (1) share of Allgeier SE has been allotted to the Allgeier shareholders.
Nagarro Custodian of Entrepreneurship in the Organization (CEO) Manas Fuloria said as an independent, public company, Nagarro can now capitalise on own brand.
“We compete on the global stage and focus on growing our ability to deliver best-in-class digital services to more clients. We are addressing a large market that is growing double digits annually and is supported by structural tailwinds. We are confident that we can continue our profitable growth and deliver value for all stakeholders,” said Manas Fuloria.
Manas Fuloria said Nagarro is building the company of tomorrow and its differentiated organizational design and unique culture promote entrepreneurship, agility and global collaboration, delivering great results to clients.
“This modern culture, characterized by low hierarchy, high autonomy, excitement for technology, intercultural openness and pronounced social awareness, is the workplace of the future – we are convinced that this will enable us to achieve long-term success,” said Manas Fuloria.
Nagarro reported revenues of €402M, an adjusted EBITDA of €58M and an adjusted EBITDA margin of 14% for full year 2019. In the first nine months of 2020, revenue reached €321M and adjusted EBITDA €58M, which equals an EBITDA margin of 18%.
The company targets its organic revenue growth rate to be in the region of 15% in 2021 and aims to return to historical levels (2017-2019) in the medium term. Nagarro also targets an adjusted EBITDA margin of approximately 15%.
Nagarro’s listing agents are COMMERZBANK and Jefferies.
Nagarro is a global digital engineering company offering a full-service portfolio of digital product engineering, digital commerce and customer experience, managed services, ERP consulting and technology services. Customers choose Nagarro because of their differentiated combination of digital engineering power, entrepreneurial mindset, agile delivery capabilities, and global presence. Nagarro employs over 8,400 people in 25 countries.
