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Global leader in digital engineering and technology solutions Nagarro SE has 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.
Speaking on the development, Manas Fuloria CEO of Nagarro, said, “As an independent, public company, we can now capitalize on our 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.”
“At Nagarro, we are building the company of tomorrow. Our differentiated organizational design and our unique culture promote entrepreneurship, agility, and global collaboration, delivering great results to our 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,” He added.
Nagarro reported revenues of €402M, an adjusted EBITDA of €58M, and an adjusted EBITDA margin of 14% for the 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.