NAGA Group announced preliminary numbers for the previous year today and mentioned that the German-based company has recorded total sales of €25.9 million in 2020. NAGA Group also expects the recent growth to continue in 2021 as the company mentioned the sales guidance of €50 million – €52 million in 2021.
According to the official press release, the company processed more than €40 billion in trading volume in Q4, a 33% jump compared to the previous quarter. Additionally, NAGA Group processed over 1.9 million transactions in the last quarter, 20% more than Q3 of 2020.
The unaudited EBITDA for 2020 stands at around €6 million as the company recorded €120 billion in trading volume last year with a total of 6.3 million transactions, compared to €44 billion trading volume and 2.9 million transactions in 2019.
Commenting on the recent preliminary figures for 2020, Benjamin Bilski, CEO of NAGA Group, said: “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.”
In addition to the solid preliminary sales figures for 2020, the company is expecting 2021 to perform even better than the previous year. Bilski mentioned that the first week of 2021 has been the strongest week in the company’s history. The company plans to accelerate expansion plans in 2021 with the acquisition of licenses for its brokerage as well as the banking business.
“We started 2021 with the strongest week in our company’s history and recorded over 200,000 transactions and EUR 4 billion in trading volume with sales in the seven-digit range. This clearly shows that our strategy of continuing to invest in marketing is paying off more and more,” Bilski mentioned.
Source: Read Full Article