DGAP-News

The NAGA Group AG publishes half-year results

DGAP-News: The NAGA Group AG / Key word(s): Half Year Results The NAGA Group AG publishes half-year results 03.11.2020 / 09:58 The issuer is solely responsible for the content of this announcement. Record revenues of EUR 12.08 million 33.1% EBITDA margin Growth in the second half of the year 2020 continues with high dynamics 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.