NAGA GROUP, the German based provider of the social network for financial market trading NAGA.com has reported its financial performance for 2020 and indicated growth in several key areas with positive guidance for 2021. The broker achieved EUR 25.9 million in sales for 2020 with an unaudited EBITDA of approximately EUR 6 million.
The brokerage and copy trading provider also reported that its trading volumes increased significantly last year, with EUR 40 billion in volume and 1.9 million transactions. For the full year trading volume came in at EUR 120 billion, as compared to EUR 44 billion in 2019. 2020 transactions totalled 6.3 million, which is at least double the 2.9 million achieved in 2019.
Given the improved performance of the brokerage, including doubling of active users and customer deposits in 2020, the company 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.
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