NAGA Group shares steady after FY24 results meet expectations

The NAGA Group AG (XETRA: N4G), a fintech company offering the all-in-one financial SuperApp NAGA, reported that its financial performance for the year 2024 aligned with its forecasts.

The year was characterized by the successful completion of the reverse merger with the former CAPEX Group, leading to the integration of the two entities. This merger, finalized in August 2024, set the stage for customer migration to a unified technology platform and optimization of the workforce.

The company described 2024 as a transitional period focused on integration rather than revenue growth, which was evident in their financial outcomes. The NAGA Group’s revenue for 2024 was reported at €62.3 million, a decrease from the previous year’s pro-forma figure of €77.5 million. Despite this, the company’s EBITDA remained relatively stable at €8.1 million compared to €8.5 million in 2023, with an improved EBITDA margin of 13%, up from 11%.

The NAGA Group has implemented cost-saving and efficiency measures that are expected to be fully realized in the 2025 financial year. The company anticipates operational efficiencies and more streamlined customer acquisition following the launch of a one-brand marketing strategy and the transition to a single platform.

A significant milestone for The NAGA Group in 2024 was achieving cash break-even for the first time, marking a transformation into a self-sustaining business. The focus is now on internal financing for organic growth, with external financing reserved for geographic expansion and strategic mergers and acquisitions.

Looking ahead to the financial year 2025, The NAGA Group is projecting a substantial increase in EBITDA and net profit, attributing the expected growth to margin improvements and the continued realization of synergies, aiming to return to the revenue levels of 2023.

The NAGA Group’s CEO Octavian Patrascu and CFO Ricardo Cravo will further discuss these preliminary results and provide projections for the financial years 2025 and 2026 during a webcast presentation scheduled for today at 14.00 Central European Time.

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