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EQS-News: The NAGA Group AG
/ Key word(s): Half Year Report/Half Year Results
The NAGA Group AG publishes 2024 half-year report following the merger with Key Way Group In the first half of 2024, NAGA doubled its reported revenue as a result of the merger. On a pro-forma basis, NAGA realized revenues of EUR 31.7 million (pro-forma H1/2023: EUR 36.0 million), reflecting the optimization of previously unprofitable business units as part of The NAGA Group’s new strategy with a commitment to profitability and operational efficiency. Validating the rigorous execution of the strategy and the realization of the first synergies from the merger, direct expenses decreased by 30% to approximately EUR 6.2 million (pro-forma H1/2023: EUR 8.7 million). In addition, personnel expenses were reduced by 18% to approximately EUR 5.7 million (pro-forma H1/2023: EUR 7.0 million) and other operating expenses by 23% to approximately EUR 5.8 million (pro-forma H1/2023: EUR 7.6 million). Consequently, EBITDA surged by 85% to EUR 2.8 million (pro-forma H1/2023: EUR 1.5 million), reflecting not only the revenue growth but also the Group’s strategic focus on realizing operational synergies through cost structure optimization and the successful execution of post-merger integration. Octavian Patrascu, CEO of The NAGA Group AG: “In the first half of the year, we worked on finalizing the merger from a legal and regulatory perspective. 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.” Please follow the dedicated link to register in time and participate in the webcast/call: https://www.nuways-ag.com/events/h1-2024-earnings-call-3uy1dvmj?lng=en.
30.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | The NAGA Group AG |
| Suhrenkamp 59 | |
| 22335 Hamburg | |
| Germany | |
| E-mail: | info@naga.com |
| Internet: | www.naga.com |
| ISIN: | DE000A161NR7 |
| WKN: | A161NR |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2019207 |
| End of News | EQS News Service |
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2019207 30.10.2024 CET/CEST
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