Nagarro Debuts as an Independent, Publicly Listed Company
Nagarro will commence trading on the Frankfurt Stock Exchange
Company poised to grow global market share in the digital services market
Munich and Frankfurt, December 16, 2020 – Nagarro SE (ISIN DE000A3H2200, WKN A3H220), 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 is a global digital engineering company with over 8,400 employees in 25 countries across North America, Asia and Europe. The company offers a full-service portfolio of digital product engineering, digital commerce and customer experience, managed services, enterprise resource planning (“ERP”) consulting and other services. Nagarro has a diverse and loyal 750+ blue-chip customer base across all industries.
Manas Fuloria, Custodian of Entrepreneurship in the Organization (CEO) of Nagarro, said, “As an independent, public company, we can now capitalize on our 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.”
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.
To celebrate the listing on the Frankfurt Stock Exchange, Nagarro will participate in a virtual listing ceremony beginning at 8:55 a.m. CET. The Frankfurt Stock Exchange will livestream the bell ringing on its website: www.boerse-frankfurt.de. A video of the livestream will be available afterwards on YouTube.