The NAGA Group AG reported revenue of €31.7 million for the first half of 2024, boosted by its merger with Key Way Group, the parent company of CAPEX.com. This merger nearly doubled NAGA’s user base, deposits, and trading volume, contributing to its strong performance. Alongside the merger, NAGA implemented cost-reduction measures, reducing direct costs by 30% and personnel costs by 18%, which led to an 85% increase in EBITDA, reaching €2.8 million.
Revenue Growth and Strategic Adjustments
NAGA’s H1 2024 revenue reflects a strategic pivot aimed at enhancing profitability and efficiency, with the firm actively cutting unprofitable units. This strategy led to a modest revenue decrease from €36.0 million in H1 2023, but positioned the company for more sustainable growth. CEO Octavian Patrascu emphasized that the benefits of the merger are beginning to show, and he expects further positive effects into 2025 as the group continues to grow.
Operating expenses dropped by 23%, reaching €5.8 million, while direct expenses fell to €6.2 million and personnel costs to €5.7 million. These reductions contributed significantly to NAGA’s improved EBITDA.
New Platform and Strategic Partnership
NAGA also launched its “Everything Money” hub, a consolidated platform combining trading, investing, cryptocurrencies, and payments under one interface. This user-friendly platform aims to make financial management more accessible for both beginner and experienced users.
In a branding move, NAGA secured a partnership with Borussia Dortmund (BVB), a prominent German football club. The sponsorship grants NAGA exclusive rights to use the BVB Partner logo and display its brand at Dortmund’s home stadium, Signal Iduna Park, including LED advertising during home games. This partnership is set to enhance NAGA’s visibility among millions of fans for both current and future Bundesliga seasons.
