NAGA Group reports significant growth in 2020

The NAGA GROUP, Germany provider of the social network for financial market trading NAGA.com has released its financial report for 2020, revealing significant growth in terms of trading volume and transactions.

 For 2020, the company achieved sales amount to EUR 25.9 million with an unaudited EBITDA of around EUR 6 million. In 2020, the broker recorded EUR 120 billion in trading volume (2019: EUR 44 billion) and 6.3 million transactions (2019: 2.9 million).

 Given the significant performance of NAGA in 2020, including doubling of active users and customer deposits, NAGA indicated that its sales guidance for 2021 has been updated to EUR 50 – 52 million with an EBITDA of EUR 13 million – EUR 15 million.

 “2020 was definitely a special one for us. We are happy with the overall development of our platform and the business. Our strategy of marketing NAGA globally and focusing on customer support and platform quality has had the first significant effects. We see 2020 as an intermediate step to further strong growth, which is why we decided to invest more in marketing again in Q4 instead of looking at the EBITDA margin only. We are now free of operational legacy from the restructuring and can fully attack in 2021”, NAGA CEO Benjamin Bilski comments on the preliminary 2020 figures.