The firm reduced operating expenses, lowering direct costs by 30% and personnel costs by 18%.
EBITDA increased by 85% to €2.8 million in H1 2024 due to cost cuts.
FM
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. According to the firm, the 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.
NAGA Introduces Trading Hub, Partners with Dortmund
This consolidation aims to simplify financial management for users by offering
access to various services in a single location. The redesigned site balances
detailed information with a user-friendly interface, catering to both seasoned
traders and beginners.
The deal, covering the current and future Bundesliga seasons, includes brand
visibility on LED advertising boards during home matches.
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. According to the firm, the 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.
NAGA Introduces Trading Hub, Partners with Dortmund
This consolidation aims to simplify financial management for users by offering
access to various services in a single location. The redesigned site balances
detailed information with a user-friendly interface, catering to both seasoned
traders and beginners.
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
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