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,” he continued. “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.

NAGA Introduces Trading Hub, Partners with Dortmund

NAGA has launched a new website known as the “Everything Money” hub, which integrates trading, investing, cryptocurrencies, and payment services into one platform, as reported by Finance Magnates.

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.

In another development, NAGA Group has formed a partnership with the German football club Borussia Dortmund (BVB). This sponsorship agreement grants NAGA exclusive rights to use the BVB Partner logo and promote its brand to millions of fans at Signal Iduna Park.

The deal, covering the current and future Bundesliga seasons, includes brand visibility on LED advertising boards during home matches.