Nagarro releases audited results for 2023 -- annual revenue grew 9.4% in constant currency
Operating cash flow was €77.7 million in 2023 against €82.3 million in 2022. Fund utilization under the factoring program was reduced by €23.2 million in 2023. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, increased from 69 days on December 31, 2022, to 84 days on December 31, 2023, also reflecting the decrease in factoring volume.
Nagarro's cash balance at the end of 2023 was €110.1 million as against €110.2 million at the end of 2022. The company reported 18,413 professionals as of December 31, 2023.
Download Nagarro's 2023 Annual Report
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 Enterprise vision. Nagarro employs over 18,000 people in 36 countries. For more information, please visit www.nagarro.com.
(FRA: NA9) (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220)
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