NAGA Group reports 2024 financial results and expects growth with improved margins and operational efficiency in 2025.
NAGA Group reports 2024 financial results and expects growth with improved margins and operational efficiency in 2025.
The NAGA Group 2024 results reflect a year of transition, with the company completing its merger with CAPEX Group and initiating the integration process. These strategic moves, including the transition to a unified platform and optimization of human resources, set the foundation for future growth.
Although 2024 saw modest revenue changes, the groundwork laid during the year positions the company for stronger performance and growth in the coming years. According to NAGA, this merger made 2024 a year of transition rather than significant growth, with revenue and earnings reflecting this. Preliminary figures indicate that NAGA’s 2024 revenue reached EUR 62.3 million, a decrease from EUR 77.5 million in the pro forma 2023 figures.
The company attributed the decline to a shift towards a more streamlined approach to market entry and reduced marketing expenses. On the cost side, the integration led to synergies that resulted in savings, particularly in personnel and operating costs. This contributed to a Group EBITDA of EUR 8.1 million, slightly down from EUR 8.5 million in the previous year, but with a notable improvement in EBITDA margin, which rose to 13% from 11% in 2023. NAGA also emphasized that it would realize the full impact of cost-saving measures in the 2025 financial year.
The company expects that completing its merger integration and launching a unified marketing strategy and a single platform will boost operational efficiency and reduce customer acquisition costs. In 2024, NAGA achieved cash break-even for the first time in its history, a significant milestone.
This accomplishment supports the company’s long-term goal of becoming self-sustaining. The company focuses on financing organic growth while using external funding for geographic expansion and strategic mergers and acquisitions. Looking ahead to 2025, NAGA anticipates strong EBITDA and net profit growth, with margin improvements driven by the ongoing implementation of synergies. It expects to return to 2023 revenue levels. The full annual report for 2024 will be published at the end of May 2025.
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