The NAGA Group AG Posts Another Record Quarter: Over €7.1m in Sales, Record Signups and Record Volume
The NAGA GROUP (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for investing NAGA.com, posted another record quarter for 2020 with record sales of €7.1M (Q3 2019: €1.17M) and a strong EBITDA of €1.9M (Q3 2019: -€1.04M), based on preliminary figures. With close to 40,000 new accounts (Q3 2019: 7,100), the user base grew by 70% to the previous quarters, while the monthly trading volume in Q3 2020 jumped by 22 % well over 33 billion compared to Q2. (Q3 2019: €13 Billion) driven by a record no. of 1.6 million real-money transactions (Q3 2019: 947,000).
"We are happy with Q3. Especially in light of the seasonality and the lower client activity during summer, we once again have shown that our growth strategy pays off and is sustainable. Also, we have delivered a very solid EBITDA ratio despite increased expenses in growth. Given the growth in our active user base, we managed also to improve our platform experience and internal processes significantly to ensure further scalability. Looking at all our metrics it's clear by now that NAGA can grow even without the "COVID-effect", states Benjamin Bilski, CEO of NAGA.
The company also reports the launch of first-of-its-kind digital multi-webinars via the Streaming provider "Zoom". On 30th of September NAGA hosted the "Alpha-Event" which welcomed 1,500 students from 16 countries, mainly from the African and South-East-Asian region, who were connected simultaneously. The event was hosted by the world-renowned educator Andreas Thalassinos who joined NAGA recently. Given its success and the new in-house digital TV studio by NAGA, the "Alpha Trading Event" will be followed from now on by regular digital workshops and further events in the future to offer high-quality education for beginners in trading.
"Personally I am extremely proud of our new fully-digital educational concept. Given the times we are in, it is truly amazing to see over 1,000 people being all connected in real-time, interacting and learning about the financial markets together. These digital trainings are especially appreciated by our clients from South-East Asia and Africa. In fact, people all around the globe seek high-quality educational content which can be consumed from home and is presented in an interactive format. Together with our Director of Education Andreas Thalassinos we have set the benchmark for the next-generation financial market education. This will result in more global user growth to NAGA and empowers our vision to become not only a global community for investing, but also for an innovative provider of digital financial education", comments Benjamin Bilski. The video highlights of the "NAGA Alpha Webinar" can be found here: https://naga.com/alpha-trading-webinar
Additionally, NAGA announces the official release for its challenger Bank "NAGA PAY". On November 15th NAGA Pay will be available in the Google and Apple Appstore. The new payments startup by NAGA has received thousands of pre-registrations and will be a significant growth catalyst for NAGA's FinTech platform. The pre-registration is still available under naga.com/pay.
Given its strong growth in 2020, the launch of various initiatives and the prospects of opening the growth markets Australia and South-Africa while seeing very promising numbers from its China and South-East-Asian business, NAGA is well prepared for the current fourth quarter and eyes on 2021.
"The major rationale after Q1 was to enlarge our customer base, invest in our brand exposure and set up the company for scalability. We have a lot of promising initiatives in the pipeline such as the Australian and South-Africa market opening, we see a growing business in China and we have just welcomed over 50 new talents to our headquarters to support operational excellence throughout all departments. As mentioned in our Annual General Meeting last week: NAGA has its best cash-flow situation, highest average monthly volumes and the highest number of active users (as per September 2020) since inception. For the next quarters we need to invest into brand exposure, marketing and grow our team to offer a world-class trading experience by ensuring operational stability. We are happy to leave the past noise behind and take this company to its next stage, revenue wise but also valuation wise", concludes Bilski.
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.
The NAGA Group AG
Hohe Bleichen 12
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
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
PMI Announces Medicago to Supply Up to 76 Million Doses of Its Plant-Derived COVID-19 Vaccine Candidate23.10.2020 20:00:00 CEST | Press release
Since 2008, Philip Morris Investments B.V. (PMIBV), a subsidiary of Philip Morris International (PMI) (NYSE: PM), has been a shareholder of Medicago (in which it currently holds an approximately one-third equity stake) and has supported Medicago’s innovative plant-derived research and development focused on vaccines. The investment is consistent with PMI’s own efforts to leverage science and innovation. Japan-based Mitsubishi Tanabe Pharma Corporation (MTPC) is the majority shareholder and PMIBV’s partner in Medicago. Among other things, PMIBV and MTPC will contribute additional funding to support Medicago’s efforts to develop a COVID-19 vaccine candidate. Medicago, a biopharmaceutical company headquartered in Quebec City, announced that it reached an agreement with Public Services and Procurement Canada (PSPC) to supply up to 76 million doses of its vaccine candidate for COVID-19, subject to Health Canada approval. Innovation, Science & Economic Development (ISED), another department
Fujikura Enters 5G mmWave Infrastructure Market With the Introduction of Industry’s Highest Performance, and Low Power Consumption Phased Array Antenna Module (PAAM)23.10.2020 10:00:00 CEST | Press release
Fujikura Ltd. (TOKYO:5803) (President & CEO: Masahiko Ito) today announced the introduction of industry’s most advanced and highly integrated Phased Array Antenna Module (PAAM) for 5G mmWave operating in 3GPP bands n257 (28 GHz), n258 (26 GHz) and n261 (27 GHz). The Fujikura PAAM is the industry’s highest performance PAAM targeting indoor and outdoor applications such as 5G mmWave Fixed Wireless Access (FWA), 5G mmWave Mobile Wireless Access (MWA), 5G mmWave wireless backhaul, and other emerging applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201023005099/en/ Fig.1 Block diagram of Fujikura PAAM. (Graphic: Business Wire) Key Differentiating Features of the Fujikura PAAM The Fujikura PAAM is a high performance phased array antenna module with a novel integrated antenna, and supports concurrent dual polarized beams in both transmission and reception (Fig.1). The PAAM integrates best-in-class mmWave-ICs developed i
VAAST Bikes Now Available in Europe23.10.2020 09:02:00 CEST | Press release
VAAST Bikes, a forward-thinking bicycle manufacturer known for its innovative Allite® Super Magnesium™ frames, has signed an agreement with German cycling-specialist retailer giant Internetstores (Fahrrad.de/Brügelmann.de/Bikester). Two of VAAST’s key bicycle models – including the gravel-ready all-road A/1 bike, and the urban U/1 – are now stocked at Internetstores’ eCommerce sites. Both VAAST models will be available to order online for delivery in fourteen locations across Europe via Fahrrad.de/Brügelmann.de in Germany and the partner site Bikester in 13 countries, including the UK, France, the Netherlands, Belgium, Switzerland, Austria, Poland, Denmark, Italy, Sweden, Norway, Finland and Spain. Customers in Germany can benefit from personal service in Fahrrad.de’s five stores and 190 local service partners, while eCommerce customers Europe-wide will be able to receive their new VAAST bicycle within just days of ordering online. VAAST’s unique position as the only bicycle manufactur
Mitsubishi Chemical Holdings Corporation: Notice Regarding Change in Representative Corporate Executive Officers23.10.2020 08:40:00 CEST | Press release
Mitsubishi Chemical Holdings Corporation (“MCHC”) (TOKYO: 4188) announced that, at the meeting of its Board of Directors held today, it resolved change of representative corporate executive officers as outlined below. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201022006285/en/ Jean-Marc Gilson (Photo: Business Wire) 1. Change in Representative Corporate Executive Officers (Appointed) Name: Jean-Marc Gilson Title: Representative Corporate Executive Officer President and Chief Executive Officer (Retiring) Name: Hitoshi Ochi Title: Representative Corporate Executive Officer President and Chief Executive Officer 2. Biographical Sketch of New Representative Corporate Executive Officer Refer to the appendix 3. Scheduled Date of Appointment April 1, 2021 4. Reason for the Change MCHC converted to a company with a nominating committee, etc. in June 2015. Since then, the Nominating Committee has carried out preparations to proper
MYAH Wins Prestigious Silmo D’Or Award23.10.2020 07:00:00 CEST | Press release
Topcon Healthcare, a leading provider of medical devices and software solutions for the global eye care community, announced today that its MYAH myopia and dry eye management device has won the 2020 Silmo D’Or Award in the Material/Equipment category. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201022005242/en/ Topcon Healthcare announced today that its MYAH myopia and dry eye management device has won the 2020 Silmo D’Or Award. (Photo: Business Wire) The Silmo D’Or Awards are presented each year to recognize creativity in optical product design, innovation and technology. This year marked the 27th annual awards ceremony, which was held virtually and live streamed online on Saturday, October 3rd. The award committee was proud to recognize forward-thinking companies who have continued to launch products and propel the industry forward despite the global pandemic. MYAH came out on top in the Material/Equipment category and
ABB: Q3 2020 Results23.10.2020 06:46:00 CEST | Press release
“Third quarter revenues in all business areas were still dampened due to the impact of COVID-19, although a strong recovery in China and ongoing cost mitigation efforts supported a strong underlying performance. On the upside, the integration of GEIS and turnaround of Installation Products in Electrification is starting to bear fruit and Motion is performing robustly. Robotics and Industrial Automation, on the other hand, are taking more time to recover,” said Björn Rosengren, CEO of ABB. “We are pushing ahead with the decentralization of the group and the ongoing review of our portfolio, while carrying out our share buyback program as planned. We look forward to presenting further details on our strategic progress at our Capital Markets Day on November 19.” KEY FIGURES CHANGE CHANGE ($ millions, unless otherwise indicated) Q3 2020 Q3 2019 US$ Comparable 9M 2020 9M 2019 US$ Comparable Orders 6,109 6,688 -9% -8% 19,509 21,702 -10% -7% Revenues 6,582 6,892 -4% -4% 18,952 20,910 -9% -7% I
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