Edison Investment Research - The Naga Group (N4G) The NAGA Group - Delivering growth in good market conditions

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Edison Investment Research

Richard Williamson

The NAGA Group - Delivering growth in good market conditions

NAGA recorded strong growth in sales and EBITDA in H120 as it benefited from high market volatility triggered by the COVID-19 pandemic. Management confirmed the full-year guidance it had released in late July 2020, which assumes sales of €22–24m (vs €6.2m in FY19) and EBITDA of €5.5–6.0m (vs a loss of €9.2m in FY19). In the coming months, NAGA aims to increase marketing to improve brand awareness and enter new countries (most notably Australia), which it plans to finance with €4.6m raised through a capital increase in July 2020.

12/11/2020 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

Richard Williamson

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