DGAP-News: The NAGA Group AG / Key word(s): Half Year Results
Hamburg, November 3rd, 2020 - The NAGA GROUP AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for financial market trading NAGA.com, has published its half-year results as of 30 June 2020.
The first half of 2020 was the strongest in the company's history. With a total output of EUR 12.08 million (previous year EUR 2.08 million), an EBITDA of EUR 3.87 million (previous year EUR - 4.58 million) and a half-year result of EUR 2.42 million (previous year EUR - 6.69 million) NAGA marked its turnaround compared to the previous year.
The liquidity of the FinTech company has also improved significantly. The liquid funds increased substantially, despite investments in growth, and amounted to around EUR 4.2 million on June 30, 2020, without including the proceeds from the capital increase completed in July 2020.
"As published in our previous announcements, NAGA has developed extremely well operationally and financially. The platform has improved a lot, our global growth strategy is working, and user activity is growing strongly every quarter. We are pleased that we can slowly show the potential of our model. NAGA is one of the few FinTech companies in Germany that operates profitably and can show growth of more than 500% compared to the previous year", comments Benjamin Bilski, CEO of the NAGA GROUP.
In addition, the company reports that the strong growth continued in the fourth quarter and that there were further increases in terms of monthly trading volume, transactions and new customers. In China, NAGA was able to increase the number of new deposits made by customers five-fold compared to the previous months. In addition, the company confirms that the mobile banking app NAGA Pay will be available in the App Stores in the course of November, as announced.
"So far, 2020 has been a good and strategically very important year. We are already preparing strategic items for 2021. Our broker in China, the launch of NAGA Markets Australia and our mobile banking app NAGA Pay will be the most relevant growth drivers and therefore we want to invest heavily in our growth in the upcoming year. Global digitization is in full swing and opens up high growth potential", summarizes Bilski.
The full report is available for download at https://naga.com/group/investor-relations.
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.
03.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The NAGA Group AG
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