Social and copy trading focused Retail FX and CFDs broker The NAGA Group AG (ETR:N4G) held a Capital Markets Day online session late Thursday, outlining the company’s strategic plans as it gets set to merge with Capex.com, as well as providing an update on 2024 year-to-date performance.

NAGA Group First Half 2024 Results

On the performance side, NAGA disclosed that first half 2024 Revenues came in at €31.5 million, up by 56% from €20.2 million in the previous six-month period H2-2023. (For all of 2023, NAGA brought in Revenues of €39.7 million).

However concluding the merger process between NAGA and Capex.com in the first semester of 2024 required certain legal and regulatory steps, preventing immediate synergy optimization. As such, the company earned EBITDA of €2.5 million in H1-2024, versus €4.8 million in H2-2023. NAGA did note that significant progress has been made in preparing the optimization of resources on both sides, which the company expects to be reflected in H2-2024.

The first half of 2024 also saw improvements in Registered Users on the NAGA platform (+111% from the first half of 2023), as well as Trading Volumes (+69%) and Total Deposits (+69%).

NAGA’s “Everything Money” Strategy

The main part of NAGA’s Capital Markets Days was spent outlining the company’s strategy moving forward as it looks to conclude its acquisition by Capex.com in the coming weeks.

NAGA unveiled its new Everything Money strategy, with its vision to simplify money management and investing by creating the ultimate “Everything Money” platform. The company aims to revolutionize financial experiences with an all-in-one app for trading, investing, crypto, and payments, all within NAGA’s traditional social trading environment.

Everything Trading will be a unique trading platform to be vastly enhanced by Capex.com’s product portfolio. A cross-device trading platform, Everything Money will integrate 7500+ financial instruments from Capex.com, provide unique Social Trading features, include a live financial education experience, with 14 languages and +100 countries supported.

The full NAGA Group Capital Markets Day presentation can be seen here.