The NAGA Group AG

  • WKN: A161NR
  • ISIN: DE000A161NR7
  • Land: Deutschland

Nachricht vom 29.10.2018 | 11:00

The NAGA Group AG significantly increases consolidated revenues to EUR 8.1 million (previous year EUR 3.7 million) in the first half of 2018, strongly improving all earnings figures.

DGAP-News: The NAGA Group AG / Key word(s): Half Year Results

29.10.2018 / 11:00
The issuer is solely responsible for the content of this announcement.


- EBITDA is spiking to EUR 2.2 million (previous year EUR - 1.2 million). The consolidated result has almost been offset by EUR -15 thousand (previous year EUR - 3.9 million).

- NAGA aims at a turnover of EUR 19 million for the total fiscal year 2018.

- Existing shareholders have informed NAGA of new lock-up agreements: almost 90% of the existing shares are subject to holding agreements for two years.

- Important milestones achieved for future growth - investments, partnerships, newly acquired customer groups and ongoing product development are successively expanding the NAGA ecosystem and thus creating significant growth potential.

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Hamburg, Monday, 29 October 2018

The Hamburg-based NAGA Group AG (NAGA), a listed FinTech company, can look back on a very pleasing operating performance in the first half of 2018. At the corporate level, the group succeeded in more than doubling sales revenues, from EUR 3.7 million to EUR 8.1 million. At EUR 2.2 million (previous year: EUR 1.2 million), NAGA has also generated a significantly improved result before interest, taxes, depreciation and amortisation (EBITDA), and at EUR -15 thousand (after EUR - 3.9 million), a substantial increase of the result for the period. Concurrently, equity increased from EUR 20.3 to EUR 46.4 million.

In spite of current market events (especially in the blockchain-/crypto-sector), NAGA is aiming at a turnover of approximately EUR 19 million for the fiscal year 2018, and thus a continuation of the positive trend.

NAGA shareholders conclude new lock-up agreement

The major shareholders of the NAGA Group AG, which together hold almost 90% of the total of 40,203,582 shares, have undertaken by contractual agreements with a qualified third party not to divest of their shares for a period of two years without prior consent.

Executive Director Yasin Sebastian Qureshi: "We are proud that all key personell and early-stage investors are expressing their strong commitment to NAGA through their voluntary extension of the lock-up."

Further measures in the area of investor relations will be implemented from November onwards. Participation in various investor and analyst conferences, initially with a focus on the DACH region, is thus planned.

NAGA's ecosystem is growing and is now increasingly being launched by targeted marketing activities
In order for the company's success to continue to be reflected in increased sales and earnings, NAGA is continuously working on the further development of its products and solutions, this year already achieving some significant milestones.

- In the first half of the year, NAGA acquired 25% of company shares in easyfolio GmbH, Frankfurt am Main, and as an anchor shareholder is supporting the technological advancement of easyfolio with a special focus on the use of blockchain technology.

- An important strategic partner was won with the publicly listed Mybucks S.A. Mybucks opens up NAGA's access to around 1.5 million existing customers, along with significant additional potential in emerging markets. Integration work with Mybucks is in full swing, with Mybucks' interest being based on the possibilities of the NAGA WALLET. This blockchain-based digital purse gives its customers immediate access to all cryptocurrencies and offers solutions for payment transactions, a significant advantage in regions with very limited access to banks.

- NAGA MARKETS, NAGA's online broker, is also growing. 180 new markets (countries and territories) have been newly added. Almost all countries of the world from which one can trade are now connected to the NAGA network.

- Further increasing attention to the services and solutions of NAGA is to be achieved by substantial investments in marketing measures. To this end, an exclusive partnership with Hamburgs soccer club HSV and a cooperation with Sky Media has been agreed and with the NAGA ACADEMY, NAGA is helping customers broaden their knowledge of financial and stock market issues.

- The NAGA CARD was recently launched, allowing transactions and cash access in three currencies (EUR, GBP and USD) via an IBAN account in a fast and reliable manner worldwide.

- It continues with the NAGA EXCHANGE, set to enter the market in November as a NAGA operated exchange for cryptocurrencies and fiat (traditional currencies). Interested customers can use a whitelist to secure exclusive access.

"As a result, the NAGA ecosystem is constantly growing, due to the existence of clearly positioned products and solutions, and further development is now flanked by targeted marketing measures", notes Benjamin Bilski, being convinced that NAGA has an excellent basis for significant growth.

Characters (with spaces): 4.916

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Tags, Keywords:
The NAGA Group
NAGA
FinTech
Krypto
Bitcoin
Blockchain
Finance Company
Sky
First Bundesliga
Second Bundesliga
Benjamin Bilski
Yasin Sebastian Qureshi

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THE NAGA GROUP AG:
THE NAGA GROUP AG (NAGA) was founded in August 2015 by Yasin Sebastian Qureshi, Benjamin Bilski and Christoph Brück. The company's goal is to drive the development, marketing and growth of disruptive applications for financial technology, and to actively participate in the change and opening up of the existing financial system. The word "NAGA" is Sanskrit and means "Cobra snake". It is also the name of the world's hottest chillies.

Link THE NAGA GROUP Website: https://www.naga.com

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Contact:
The NAGA Group AG
Alexander Braune
Neustädter Neuer Weg 22
20459 Hamburg
E: press@naga.com


UBJ. GmbH
Ingo Janssen
Haus der Wirtschaft
Kapstadtring 10, 22297 Hamburg
T: 040 6378 5410
E: ir@ubj.de



29.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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