Shulou(Shulou.com)05/31 Report--

Hamburg, Germany-Naga Group's interim results at the end of the first quarter of 2020 reached a record 7 million euros (T1Unix 2019: 600000 euros), while temporary net profit was 2.1 million euros (T1swap 2019: a loss of 3.9 million euros). The unaudited EBITDA is 3.3 million euros (2019: 2.8 million euros), while the unaudited EBIT is 2.2 million euros (2019: 3.9 million euros). The quarter hit an all-time high of 1.2 million transactions, while trading volume reached a record 23 billion euros. In addition, customers' deposits on the platform exceeded 12.5 million euros, the highest in the quarter. Since the beginning of this year, the number of valid accounts has doubled and the number of newly registered accounts has tripled.

"We have seen through the trade department that many companies, especially in Germany, have temporarily suspended trading and encountered serious problems. NAGA maintains the full uptime of the execution machine. This proves that our focus on know-how and infrastructure will pay off."

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"therefore, this shift is obvious to NAGA. Looking back on our beginnings, it was very positive that we made this fintech company profitable in less than five years. Especially after the challenges we faced last year, we had to take extreme measures to show that the history of startups may be volatile, but strict discipline, vision for the future and constant pursuit of goals brought us to where we are today. Individuals are more satisfied with cash flow EBITDA, which provides more means for us to achieve the goal of high growth. We have started a self-sustaining business, which is our main goal in 2020. NAGA founder and CEO Benjamin Bilsky (Benjamin Bilski) explained that the entire NAGA company can adapt to restructuring as quickly as last year.

Especially during the crisis, NAGA adapted quickly. The company creates a complete environment for remote work and ensures the normal operation of the platform. On the technical side, NAGA has increased the capacity of the system to respond to increased customer demand and transaction volume. "We have seen through the trading department that many companies, especially in Germany, have temporarily suspended trading and encountered serious problems. NAGA maintains the full uptime of the execution machine. This proves that our focus on know-how and infrastructure has paid off."

NAGA will continue to expand its business globally. The company expects more growth from its recent plans in Uruguay and China.

"after a strong performance in the fourth quarter of 2019, we confirm that growth is indeed sustainable. Now, we will pay more attention to business development and cash strategic investment decisions than ever before. We still have a lot of room for improvement and growth. General interest in the online trading market, especially in user-friendly concepts such as NAGA, is growing rapidly. We will continue to look for new markets and implement our marketing and sales plans. Shareholders and the market are satisfied with our growth path. Confidence in our concept is growing, and I think it should be reflected in our stock price, "concluded Benjamin Bilsky."

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About NAGA

NAGA is an innovative financial technology company (fintech) that develops a socially sound financial system and creates a unified and sustainable experience between finance and personal investment. Its proprietary platform offers a wide range of products, from commercial, investment and cryptocurrency to physical MasterCard and social investment resources such as Feed, Messenger and Auto-Copy. NAGA is a complete, collaborative, accessible and inclusive solution that provides a better way to trade, invest, connect, earn, acquire, and pay in a legal and encrypted manner.

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