THE-NAGA-GROUP-AG
7.4.2020 16:10:10 CEST | Business Wire | Press release
The NAGA Group closed the first quarter of 2020 with a provisional record result of EUR 7 million in sales (Q1/2019: EUR 0.6 million) and a provisional net profit of EUR + 2.1 million (Q1/2019: EUR - 3.9 million loss). The unaudited EBITDA stands at EUR + 3.3 million (Q1/2019: EUR - 2.8 million), whilst unaudited EBIT is at EUR + 2.2 million (Q1/2019: EUR - 3.9 million). With an all-time high of 1.2 million trades for the quarter, also a record trading volume of EUR 23 billion was recorded. In addition, customers deposited more than EUR 12.5 million into the platform, which was the highest in a quarter. The number of active accounts has doubled since the beginning of the year, while the number of new registrations has tripled.
"Thus the turnaround is apparent for NAGA. Looking back to our very beginnings it is extremely positive that we turned this FinTech profitable in less than 5 years since inception. Especially after the challenges we faced last year, when we had to take extreme measures, showed us that a startup story can have both ups and downs. But strict discipline, forward-thinking and consistently pursuing our vision have brought us to where we are today. Personally, I am pleased with the cash flow-relevant EBITDA which gives us further strength in order to implement our high growth ambitions. We are already running a self-sustaining business, that was our primary goal for 2020. Our cost structure and operating structure today is very lean and dynamic. The entire NAGA organization can therefore adapt to growth just as quickly as last year to the restructuring", explained Benjamin Bilski, founder and CEO of NAGA.
Especially during the Corona virus crisis NAGA has adapted very quickly. The company has set up a full remote-working environment whilst ensuring that the platform works without any interruptions. On the technological side NAGA increase the system capacity and was able to scale with rising client's requests and transaction volumes. "We have seen from the trading industry that numerous firms - especially in Germany - halted trading temporarily and had severe issues. NAGA had full uptime of our execution engine. It proves that our focus on proprietary technology and infrastructure pays off".
NAGA will continue to grow its business on a global scale. The company expects further growth results from the recently started initiatives in Uruguay as well as in China.
"After the strong Q4 2019 we have confirmed that the growth was indeed sustainable. We will be now more attentive than ever when it comes to our business development and strategic decision of investing money. We still have significant room for improvements and growth. The overall market interest for online-trading and especially in user-friendly concepts like NAGA's is growing fast. We will continue to identify new markets and roll out both our marketing and sales initiatives. I am confident that our shareholders and the market appreciate our growth path. The trust in our concept is building and in my opinion it should also be reflected in our share price", concludes Benjamin Bilski.
###
About NAGA
NAGA is an innovative fintech company that has developed a socially enhanced financial system that creates a unified and seamless experience across personal finance and investing. Its proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical Mastercard and social investing features such as a Feed, a Messenger and Auto-Copy. NAGA is a synergistic all-in-one solution that's accessible and inclusive, and that provides a better way to trade, invest, connect, earn, acquire and pay, across both fiat and crypto.
| Language: | English |
| Company: | The NAGA Group AG |
| Hohe Bleichen 12 | |
| 20354 Hamburg | |
| Germany | |
| E-mail: | info@naga.com |
| Internet: | www.naga.com |
| ISIN: | DE000A161NR7 |
| WKN: | A161NR |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
View source version on businesswire.com: https://www.businesswire.com/news/home/20200407005575/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
FDA Approves Promega OncoMate® MSI Dx Analysis System as Companion Diagnostic for KEYTRUDA® in MSI-High Solid Tumors10.11.2026 13:00:00 CET | Press release
The U.S. Food and Drug Administration (FDA) has approved the Promega OncoMate® MSI Dx Analysis System designed to identify patients with microsatellite high (MSI-H) solid tumors as a companion diagnostic designed for KEYTRUDA®, Merck’s (known as MSD outside the U.S. and Canada) anti-PD-1 therapy. OncoMate® MSI Dx Analysis System is a PCR-based assay designed to evaluate MSI status in solid tumor tissue. MSI status can be used to inform treatment decisions and support precision oncology strategies. “This approval reflects our dedication to providing meaningful diagnostic advances, developed to the highest quality and regulatory standards,” says Alok Sharma, Global Clinical Market Director at Promega. “Our test connects patients with the therapy most likely to help them, working alongside our pharmaceutical collaborators and the clinicians who use the result.” This approval was supported through a collaboration with Merck, which markets KEYTRUDA®. Together, the companies are working to a
Component Sense Celebrates 25 Years With Over 80 Million Electronic Components Saved From Landfill10.11.2026 13:00:00 CET | Press release
Global electronics redistribution company marks its anniversary by planting 2,500 trees Component Sense, a global company specialising in the redistribution of excess and obsolete electronic components, has now saved over 80 million components from landfill. The milestone coincides with its 25th anniversary this November, which it is marking by planting 2,500 trees with One Tree Planted. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110298637/en/ Kenny McGee, CEO and Founder, Component Sense The company redistributes excess components from Tier 1 original equipment manufacturers (OEMs) and electronics manufacturing services (EMS) providers to a global network of buyers, helping manufacturers recoup value from inventory that would otherwise go to waste. Excess inventory is both a financial and an environmental burden for electronics manufacturers. With lead times still running long, shortages and surpluses exist side by s
Suzano Publishes First Report Aligned With Taskforce on Nature-related Financial Disclosures Recommendations10.11.2026 12:18:00 CET | Press release
Report offers insight on Suzano’s ecosystem health impacts, risks and opportunities, and reinforces its nature strategy Suzano, the world’s largest pulp producer, has published its first report aligned with the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD). The TNFD reporting framework helps organizations identify and assess how their dependencies and impacts may generate nature and biodiversity related risks and opportunities, and to disclose how they are integrated into the company’s governance, strategy, and corporate management. Initially focused on Suzano’s direct Brazilian operations, the report establishes methodological foundations, strengthens internal capabilities, and creates a pathway for the gradual expansion of nature-related assessments and disclosures over the coming years. The report also reinforces Suzano’s Nature Strategy, launched in November 2025. As part of its ongoing commitment to stronger management and greater transparency reg
Robbyant Releases LingBot-Touch to Bring General-Purpose Touch Perception to Robots10.11.2026 10:23:00 CET | Press release
Robbyant, an embodied AI company within Ant Group, today announced the open-source release of LingBot-Touch, a tactile foundation model that gives robots a critical missing sense by enabling robust touch perception. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261109284905/en/ LingBot-Touch encodes magnetic tactile, visual tactile, and piezoresistive signals into unified tactile tokens for use by different action models. Pre-trained on nearly 5,000 hours of real-world tactile data, the model covers three mainstream sensing modalities—magnetic tactile, visual tactile, and piezoresistive sensing—and translates their diverse signals into a unified tactile representation. This allows different dexterous hands and action models to share and reuse tactile understanding, enabling robots to not only “see clearer” and “think deeper,” but also “feel sharper” during fine manipulation tasks, such as turning pages, unscrewing bottle ca
Wise Selects Navan to Modernize Global Travel Program10.11.2026 10:00:00 CET | Press release
Global financial technology company plans to improve traveler choice, cost control and visibility Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced that Wise (Nasdaq:WSE, LSE:WISE), the global financial technology company building the best way to move and manage the world's money, has selected Navan to manage its business travel program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261109603155/en/ Global financial technology company plans to improve traveler choice, cost control and visibility “Our teams travel across the world to work together and support our customers, so it's important that booking and managing travel is straightforward,” said Hanro Hennig, VP Global Real Estate, Workplace and Risk at Wise. “We're working with Navan to make that experience simpler, while giving us better visibility and control over travel costs.” Key anticipated benefits of the partnershi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom