August 11, 2023 – The Nagarro SE Management Board today analyzed the January through July developments and consequently decided to revise the company's guidance for 2023. Due to adverse currency movements and scale-backs in a few projects, the company now estimates the total 2023 revenue, calculated at today's currency exchange rates and not including future acquisitions, to be in the region of €915 million. As the company is carrying excess production capacity, which is reflected in the cost of revenues, the new estimate for gross margin is 26%, while the new estimate for Adjusted EBITDA margin is 13%.

Note: This document contains supplementary non-IFRS financial measures. Gross margin and Adjusted EBITDA margin are alternative performance measures that are not defined in accordance with international accounting standards. Nagarro uses these measures to enable better comparability of the business over time and within the industry. For details on alternative performance measures see Nagarro SE Annual Report 2022. This document also includes forward-looking statements that represent management's expectations based on assumptions and estimates, but future actual developments and future actual results may deviate from these assumptions and estimates.

Contact:

Nagarro SE
Investor Relations
Baierbrunner Str. 15
81379 Munich
Tel.: +49 (0)89/785000282
Tel.: +49 (0)89/231219151 (Investor Relations)
Fax: +49 (0)322/22132620
E-mail: [email protected]
Web: www.nagarro.com

Nagarro SE (ISIN: DE000A3H2200 | WKN: A3H220 | FRA: NA9)