Edison Investment Research - The Naga Group (N4G) The NAGA Group - Further ecosystem expansion delayed

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Edison Investment Research

Milosz Papst

The NAGA Group - Further ecosystem expansion delayed

NAGA Group initiated a restructuring process in April 2019 and will now focus on its only profitable product, Naga Trader. For FY19, the company guides to a substantial decrease in revenues from advisory services to Naga Development Association (NDAL). This is accompanied by a â‚¬1.8m value adjustment on receivables from NDAL in FY18. This is the result of weak market conditions (particularly in cryptocurrencies), according to the company. Consequently, the targeted expansion of a complete NAGA ecosystem will be postponed.

10/07/2019 5 EN

Underlying

The Naga Group

Naga Group AG is a Germany-based company, which is engaged in the development and marketing of applications in the area of financial technology. The Company's products include NAGA TRADER, a social trading application that allows users to trade foreign exchange (ForEx), indices, equities and cryptocurrency Contracts for Difference (CFDs) by copying other trades; NAGA VIRTUAL, a platform for trading in virtual objects from online games; NAGA COIN, a social trading platform for the NGC cryptocurrency; NAGA WALLET, a multi-currency payment gateway for cryptocurrencies and digital money; NAGA EXCHANGE, a cryptocurrency exchange network, and NAGA ACADEMY, an online learning portal for traders. The Company has offices in Germany, Spain, Bosnia and Herzegovina, and Cyprus.

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DE000A161NR7 Frankfurt Stock Exchange Germany

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Milosz Papst

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