NAGA’s final first-half figures show cost savings outpacing falling revenue

NAGA increased its first-half net-profit figure to €1.1 million in final unaudited results published on 14 October, from the €0.9 million estimate released in August. Both quarters were profitable, despite lower revenue than a year earlier.[1]

Staff, technology and other operating expenses also declined. EBITDA improved by €1.53 million; the additional €2.27 million fall in depreciation and amortisation helped turn operating profit positive. The earnings recovery therefore combines lower current expenses with reduced charges for assets already recognised.[2]

The distribution change has a measurable trade-off. Newly funded clients fell 35%, while the share of revenue from proprietary channels rose to 53% from 36%. Those channels include digital marketing, influencer partnerships and organic reach. Reported acquisition cost per customer edged up to €1,117 from €1,099, even as total marketing expenditure fell.[1]

Operating cash flow reached €4.60 million, while intangible-asset investment used €2.10 million. Net financing inflows of €0.69 million also contributed to the €10.52 million closing cash balance. These are June figures, covering the first half’s operations and funding.[2]

Management retained full-year revenue guidance of €68 million–€75 million and EBITDA guidance of €10 million–€15 million. Using rounded first-half revenue, that requires €40.3 million–€47.3 million in second-half sales. The cost improvement is established; the forecast still depends on a substantial acceleration in revenue.[1]

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