Hamburg, Germany – (BUSINESS WIRE) – The NAGA group closed the first quarter of 2020 with a provisional record result of 7 million euros in turnover (Q1 / 2019: 0.6 million euros) and a provisional net profit of + 2.1 million euros (Q1 / 2019: – 3.9 euros) million losses). Unaudited EBITDA was EUR + 3.3 million (Q1 / 2019: EUR – 2.8 million), while unaudited EBIT was EUR + 2.2 million (Q1 / 2019: EUR – 3.9 million). With a historic record of 1.2 million transactions for the quarter, a record transaction volume of 23 billion euros was also recorded. In addition, customers deposited more than 12.5 million euros on the platform, which was the highest of a quarter. The number of active accounts has doubled since the start of the year, while the number of new registrations has tripled.
“So the turnaround is apparent for NAGA. If we go back to our beginnings, it is extremely positive that we have paid for this FinTech in less than 5 years since its creation. Especially after the challenges we encountered last year , when we had to take extreme measures, showed us that a startup story can have both ups and downs. But strict discipline, avant-garde and the constant pursuit of our vision have brought us where we are today. Personally, I am satisfied with the relevant cash flow EBITDA which gives us more to achieve our high growth ambitions. We are already managing an autonomous business, which was our main objective for 2020. Our structure costs and our operational structure are very thin and dynamic today. The entire NAGA organization can therefore adapt to growth as quickly as last year. restructuring, “said Benjamin Bilski, founder and CEO of NAGA.
Especially during the Corona virus crisis, NAGA adapted very quickly. The company has set up a complete telework environment while ensuring that the platform operates without interruption. Technologically, NAGA has increased the capacity of the system and has been able to evolve with the increase in customer demands and transaction volumes. “We have seen in the trade sector that many companies – especially in Germany – have temporarily shut down and have had serious problems. NAGA has had full availability of our execution engine. This proves that our focus on proprietary technologies and infrastructure is paying off. ”
NAGA will continue to develop its activities worldwide. The company expects new growth results from initiatives recently launched in Uruguay as well as in China.
“After the strong Q4 2019, we have confirmed that growth is indeed sustainable. We will now be more attentive than ever when it comes to our business development and the strategic decision to invest money. We still have a margin of significant progress and growth. the market interest in online commerce and in particular in user-friendly concepts like NAGA is growing rapidly. We will continue to identify new markets and deploy our marketing and sales initiatives. I am convinced that our shareholders and the market appreciate our growth path. Confidence in our concept is growing and, in my opinion, it should also be reflected in our share price, “concludes Benjamin Bilski.
NAGA is an innovative technology company that has developed a socially improved financial system that creates a unified and transparent experience through personal funding and investment. Its proprietary platform offers a range of products ranging from trading, investment and cryptocurrencies to a physical Mastercard and social investment functionalities such as a feed, a messenger and automatic copying. NAGA is an all-in-one accessible and inclusive synergistic solution, which offers a better way to trade, invest, connect, win, acquire and pay, both in the field of cryptography and cryptography.
|Business:||The NAGA AG group|
|Hohe Bleichen 12|
|Listing:||Unofficial regulated market in Berlin, Düsseldorf, Frankfurt (scale), Hamburg, Munich, Stuttgart, Tradegate Exchange|