– Spin-off, listing and new brand identity among milestones in 2020
– Revenue increase of 7% to €430.4 million despite the impact of the Covid-19 pandemic
GURGAON, India, May 3, 2021 /PRNewswire/ — 2020 was an eventful year for Nagarro, a global leader in digital product engineering. While Covid-19 impaired normal life and rattled the global economy, Nagarro prepared and executed the spin-off from the former parent company Allgeier SE and listed on the stock exchange in December 2020. In the run-up to this step, the company also unveiled a new brand identity that better reflected the company’s ethos and values.
Thanks to its diversified base of 750 blue chip customers from 50 countries and the resilient demand for digital solutions, Nagarro performed well despite the ongoing pandemic. Nagarro’s revenue grew from €402.4 million in 2019 to €430.4 million in 2020, (+7%). The adjusted EBITDA, a non-IFRS number, grew by 38% from €55.0 million in 2019 to €76.2 million in 2020. “Many of our clients and colleagues faced a challenging 2020,” said Cindy Wolf, a Nagarro Managing Director based in New York City. “We were yet able to continue to develop and grow as a company, building new, important digital products and services for our clients.”
Nagarro successfully pursued the plan of splitting from its parent company Allgeier and listing on its own. On December 16, 2020
Over many years, Nagarro has invested in building a modern, agile, entrepreneurial, and human-centric company with a distinctive organizational design and culture. As a virtual, global company with no headquarters, Nagarro places special emphasis on its unique corporate value of “CARING” – an acronym for Client-centric, Agile, Responsible, Intelligent, Non-hierarchical, and Global. In a year of disruption, Nagarro’s organizational design allowed for a smooth continuation of daily operations and rapid adjustments to changing market circumstances. “The past year has shown that, thanks to our agility and our unique CARING culture, we can emerge stronger from a crisis,” says Neeraj Chhibba, a member of Nagarro’s Finance Council. “We are convinced that our values, our capabilities and our client relationships form a strong basis for sustainable future success.”
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