NAGA’s Revenue Reaches €31.7 Million Following the Merger in H1 2024

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.”

Source: Naga

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.”

Source: Naga

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.

  • Related Posts

    XM, IC Markets, Tickmill: CFD Brokers Step Up Support Amid Cyprus Wildfires

    Cyprus is dealing with ongoing wildfire flare-ups in the Limassol district following a large blaze that began near the village of Malia on Wednesday afternoon and spread rapidly, challenging early…

    Screens On, Sleep Off: LSE’s 24/7 Plan, Bloomberg Terminal Still Reigns, 401(k)s Get Risky

    Could Less Be More for LSE? London Stock Exchange Group is exploring the operational and regulatory implications of introducing 24-hour trading, It was reported over the weekend. US exchanges have…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    What Happens When Central Banks Disagree on Inflation?

    • July 25, 2025
    What Happens When Central Banks Disagree on Inflation?

    XAU/USD: Elliott Wave Analysis and Forecast for 25.07.25 – 01.08.25

    • July 25, 2025
    XAU/USD: Elliott Wave Analysis and Forecast for 25.07.25 – 01.08.25

    WTI Crude Oil: Elliott Wave Analysis and Forecast for 25.07.25 – 01.08.25

    • July 25, 2025
    WTI Crude Oil: Elliott Wave Analysis and Forecast for 25.07.25 – 01.08.25

    USD/JPY: Elliott Wave Analysis and Forecast for 25.07.25 – 01.08.25

    • July 25, 2025
    USD/JPY: Elliott Wave Analysis and Forecast for 25.07.25 – 01.08.25