EQS-News: NAGA delivers a strong 2023 with EUR 45.5 million revenue and highest EBITDA in the company's history of EUR 7 million
EQS-News: The NAGA Group AG
/ Key word(s): Preliminary Results/Development of Sales
NAGA delivers a strong 2023 with EUR 45.5 million revenue and highest EBITDA in the company's history of EUR 7 million
Hamburg, January 9th, 2023 - The NAGA GROUP (XETRA: N4G, ISIN: DE000A161NR7), provider of the All-in-One Financial Super App, NAGA, published preliminary unaudited revenue and EBITDA results for the year 2023. NAGA delivers over EUR 45.5 million in revenue (FY2022: EUR 57 million) and achieves a preliminary EBITDA of EUR 7 million (FY2022: - EUR 13.7 million) which is the highest EBITDA in the company's history, marking an impressive turnaround on the bottom line during challenging market conditions. During 2023 NAGA saw over 132,000 account openings (FY22: 243,000) and more than 9.2 million trades (FY22: 8.6 million) whereof 4.8 million were copy trades (FY22: 3.5 million. Volume traded stood at EUR 143 billion (FY22: EUR 137 billion). Active users at the end of the year crossed 21,000 (FY 2022: 18,700). As a result all unique user metrics have shown a strong uptrend with higher average activity, deposit size and lifetime value. Especially on the cost side, NAGA successfully focused on operational and marketing efficiency, and lowered overall expenses significantly. marketing expenses stood at EUR 5.5 million (FY2022: EUR 28.5 million), leading to the best ever gross Cost Per Acquisition of EUR 447 (FY22: EUR 1510) per new capitalized trading account. NAGA CEO, Michael Milonas comments on the success of the year: “We are delighted that our disciplined approach and continuous efforts to make NAGA profitable yielded such strong results. We have seen an improved quality of customers, a well as improved platform stability and strong user metrics which make us confident for the following months. Especially in the light of our recently announced Merger, NAGA will play a crucial role to deliver strong results in the upcoming year paired with Capex.com fast growing user and revenue base creating a new, exciting equity story for the Group”. Following the 19th of December 2023 and the announcement of the merger between NAGA and Capex.com, Octavian Patrascu is expected to take the office of NAGA Group CEO in the following days following a successful subscription by him of the vast majority of the 8,226,000 convertible notes issued together with the injection of close to USD 9 million into NAGA. Mr Patrascu will, in the course of the coming weeks, unveiling his plans for the technology roadmap and the evolution of NAGA. In addition, NAGA as well as Capex.com also plan to release forecasts and guidance in the upcoming weeks for the financial year 2024 as initial steps for the M transaction are underway and always subject to customary closing conditions and regulatory approvals.
09.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | The NAGA Group AG |
Hohe Bleichen 12 | |
20354 Hamburg | |
Germany | |
E-mail: | [email protected] |
Internet: | www.naga.com |
ISIN: | DE000A161NR7 |
WKN: | A161NR |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1811211 |
End of News | EQS News Service |
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1811211 09.01.2024 CET/CEST
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