NAGA Group AG Announces Integration with Telegram and Promising Growth Plans

NuWays AG has issued an update on THE NAGA GROUP AG, recommending a "BUY" rating with a new target price of EUR 1.40. The highlight is NAGA’s cooperation with Telegram, which integrates its full trading offering into the messaging app, allowing users to complete the onboarding and KYC processes within Telegram. This move aims to increase NAGA's user base and customer activity.

NAGA's CEO Octavian Patrascu presented growth plans at a recent roundtable, expecting sales to rise to €129 million and EBITDA to €31 million by FY2026, surpassing conservative estimates of €103 million in sales and €21 million EBITDA.

For FY2024, projections are €71 million in sales and €8.6 million EBITDA, slightly below internal expectations in topline but above in bottom line metrics. Investment in future growth may affect short-term margins.

The integration with Telegram and NAGA’s strategic cooperations, including a recent deal with BVB, are expected to drive the company’s growth.