The Naga Group: Mixed Q1 figures; guidance confirmed - NuWays AG Research
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The Naga Group: Mixed Q1 figures; guidance confirmed - NuWays AG Research

Last week, NAGA reported preliminary Q1 figures that came in as a mixed bag with softer than
expected revenues but strong bottom line. Further, the company confirmed its FY26 guidance.

With Q1 figures, the company delivered a solid start into the year. Nevertheless, it needs further sequential improvements, especially on the top-line to achieve the guidance. We are convinced that the management took the right measures but leave some room for positive surprises in our estimates.

BUY with an unchanged PT of € 9.50 based on DCF.
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