Nagarro SE, a player in digital engineering and technology solutions, started trading on the Frankfurt Stock Exchange. The opening price was EUR 69.00, which corresponds to a market capitalization of EUR 785.39 million. The listing follows the completion of Nagarro’s spin-off from Allgeier SE.
Manas Fuloria, Custodian of Entrepreneurship in the Organization (CEO) of Nagarro, said, “Over 8,400 Nagarrians work enthusiastically across 25 countries to deliver best-in-class digital engineering services to our wonderful clients. And each and every one of us can be justifiably proud today. We look forward to beginning the next chapter of our journey, now as an independent public company.”
Nagarro 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. 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%.