THE-NAGA-GROUP-AG
11.1.2021 12:45:32 CET | Business Wire | Press release
The NAGA GROUP (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for financial market trading NAGA.com, recorded in Q4 2020 via its FinTech platform once again new highs in terms of trading volume and the number of real money transactions. Over EUR 40 billion in trading volume and over 1.9 million transactions were processed which marks an increase of more 33% and 20% respectively to the previous quarter.
For 2020 preliminary group sales amount to EUR 25.9 million with an unaudited EBITDA of around EUR 6 million. In 2020 NAGA recorded EUR 120 billion in trading volume (2019: EUR 44 billion) and 6.3 million transactions (2019: 2.9 million). The number of active users has more than doubled in the course of the year. Customer deposits were over EUR 50 million, which is also a doubling compared to the previous year.
"2020 was definitely a special one for us. We are happy with the overall development of our platform and the business. Our strategy of marketing NAGA globally and focusing on customer support and platform quality has had the first significant effects. We see 2020 as an intermediate step to further strong growth, which is why we decided to invest more in marketing again in Q4 instead of looking at the EBITDA margin only. We are now free of operational legacy from the restructuring and can fully attack in 2021", NAGA CEO Benjamin Bilski comments on the preliminary 2020 figures.
Based on the strong development in 2020, the further global expansion and the rising client demand for digital investing and banking products, NAGA provides a sales guidance of EUR 50 - 52 million for 2021 with an EBITDA of EUR 13 million - EUR 15 million.
"We started 2021 with the strongest week in our company's history and recorded over 200,000 transactions and EUR 4 billion in trading volume with sales in the seven-digit range. This clearly shows that our strategy of continuing to invest in marketing is paying off more and more. It is essential to build more brand exposure for NAGA and secure further market share. The interest in the capital markets, digital currencies and banking sector is higher than ever and will continue to grow. We are confident that we will be able to expand our business further, and the start in Australia (subject to regulatory approval) will also give us additional power", Bilski comments on the forecasts for 2021.
Furthermore, the company announces that it plans to obtain further licensing for the brokerage business but also for the banking business for 2021. "In the light of the strong growth of our Neo-Banking App NAGA Pay, our short-term goal is to build a digital bank parallel to the trading platform," concludes Bilski.
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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
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E-mail: |
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Internet: |
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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/20210111005550/en/
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