The NAGA Group AG has released its half-year report,
presenting unaudited financial results for the first six months of 2024. This
period included the completion of a merger with Key Way Group, owner of
CAPEX.com. The merger contributed to nearly doubling NAGA’s registered users,
total deposits, and trading volume.
NAGA Reports Strategic Revenue Shift
NAGA reported revenue of EUR 31.7 million in H1 2024 on a
pro-forma basis, compared to EUR 36.0 million in H1 2023. This increase
followed a strategic shift aimed at improving profitability and operational
efficiency, including the elimination of unprofitable business units.
“In the first half of the year, we worked on finalizing the
merger from a legal and regulatory perspective,” said Octavian Patrascu, CEO of
The NAGA Group AG.
“The first operational synergies are already paying off.
These positive effects will continue to materialize in 2025 as we are committed
to the growth of The NAGA Group.”
Direct expenses dropped by 30% to EUR 6.2 million, while
personnel costs were reduced by 18% to EUR 5.7 million. Operating expenses also
saw a 23% decrease, reaching EUR 5.8 million. These reductions contributed to
an 85% increase in EBITDA, which rose to EUR 2.8 million.
The NAGA Group AG has released its half-year report,
presenting unaudited financial results for the first six months of 2024. This
period included the completion of a merger with Key Way Group, owner of
CAPEX.com. The merger contributed to nearly doubling NAGA’s registered users,
total deposits, and trading volume.
NAGA Reports Strategic Revenue Shift
NAGA reported revenue of EUR 31.7 million in H1 2024 on a
pro-forma basis, compared to EUR 36.0 million in H1 2023. This increase
followed a strategic shift aimed at improving profitability and operational
efficiency, including the elimination of unprofitable business units.
“In the first half of the year, we worked on finalizing the
merger from a legal and regulatory perspective,” said Octavian Patrascu, CEO of
The NAGA Group AG.
“The first operational synergies are already paying off.
These positive effects will continue to materialize in 2025 as we are committed
to the growth of The NAGA Group.”
Direct expenses dropped by 30% to EUR 6.2 million, while
personnel costs were reduced by 18% to EUR 5.7 million. Operating expenses also
saw a 23% decrease, reaching EUR 5.8 million. These reductions contributed to
an 85% increase in EBITDA, which rose to EUR 2.8 million.
This post is originally published on FINANCEMAGNATES.
