Nagarro releases audited financial statements and annual report for FY 2025, reaffirms the preliminary numbers

PRNewswire
Munich [Germany], April 29: Based on audited figures for the 2025 financial year, Nagarro's revenue grew to EUR999.3 million in 2025, up from EUR972.0 million in 2024, representing YoY growth of 2.8%. The constant currency growth in annual revenue was 6.1%. Gross profit in 2025 grew to EUR321.3 million (32.2% gross margin), up from EUR295.8 million (30.4% gross margin) in 2024. Adjusted EBITDA declined to EUR138.2 million in 2025 from EUR147.5 million in 2024. Adjusted EBITDA margin was 13.8% in 2025, thus within the revised guidance of 13.5% to 14.5%, and declined from 15.2% in 2024. EBITDA was EUR118.7 million in 2025, down from EUR134.0 million in 2024.
- Revenue of EUR999 million (+2.8%) represents 6.1% constant currency growth;
- Gross profit of EUR321 million (+8.6%);
- Adjusted EBITDA margin of 13.8% is within forecast range
2025 EBITDA was impacted by unrealized foreign exchange loss of EUR15.5 million on intra-group loans within Nagarro group; this amount was not adjusted. One-off items incorporated in the adjustment to EBITDA include a one-time expense of EUR12.4 million related to the implementation of the new labor codes in India, which have increased the defined benefit obligations from past service costs.
2025 EBIT was EUR83.0 million, down from EUR96.7 million in 2024. 2025 net profit was EUR39.5 million, down from EUR49.2 million in 2024. The number of clients generating more than EUR1 million in annual revenue was 180 in 2025, down from 186 in 2024, as several implementation-led programs were successfully completed and converted into stable, recurring managed services engagements.
2025 operating cash flows grew to EUR102.8 million from EUR86.5 million in 2024. Factoring utilization under the non-recourse factoring program was increased by EUR8.8 million in 2025. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, improved from 88 days on December 31, 2024, to 82 days on December 31, 2025.
Nagarro's cash balance at the end of 2025 was EUR124.6 million as against EUR192.6 million at the end of 2024. Nagarro's loans and borrowings at the end of 2025 were EUR310.1 million as against EUR329.6 million at the end of 2024. The company repurchased 919,421 shares during FY2025 for a total of EUR67.8 million. The company reported 18,003 professionals as of December 31, 2025.
The Management Board and Supervisory Board will propose to the Annual General Meeting the distribution of a dividend of EUR1.00 per share. This continues to underline the company's long-term value creation strategy.

About Nagarro
Nagarro, a global digital engineering leader, helps clients become fluidic, innovative, digital-first companies and thus win in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and its Fluidic Intelligence vision. Nagarro employs around 18,000 people in 38 countries. For more information, please visit www.nagarro.com.
FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220)
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