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

    B2BROKER Offers New Website Development Service in Partnership with Website Studio Agency

    B2BROKER partners with WSA to allow its clients to build their websites and improve their online presence. New and existing brokerages can use one of three packages to own an…

    Weekly Review: Dubai Outpays Cyprus in Top FX Executive Salaries; iFX EXPO International 2025 Highlights

    Dubai outpaces Cyprus on FX executive pay Despite its established status as a forex hub, Cyprus is losing ground to Dubai in terms of salaries paid to top executives in…

    Leave a Reply

    Your email address will not be published.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

    You Missed

    Social Media Hype and Market Volatility Explained for Traders

    • June 21, 2025
    Social Media Hype and Market Volatility Explained for Traders

    How to Trade Forex During Unexpected News Without Panicking?

    • June 21, 2025
    How to Trade Forex During Unexpected News Without Panicking?

    B2BROKER Offers New Website Development Service in Partnership with Website Studio Agency

    • June 21, 2025
    B2BROKER Offers New Website Development Service in Partnership with Website Studio Agency

    Weekly Review: Dubai Outpays Cyprus in Top FX Executive Salaries; iFX EXPO International 2025 Highlights

    • June 21, 2025
    Weekly Review: Dubai Outpays Cyprus in Top FX Executive Salaries; iFX EXPO International 2025 Highlights

    What Moves the Dollar in 2025?

    • June 20, 2025
    What Moves the Dollar in 2025?

    What Is a Currency Crisis? 5 Examples Every Trader Should Know

    • June 20, 2025
    What Is a Currency Crisis? 5 Examples Every Trader Should Know