Preliminary August results of Novaturas: winter sales continue to grow, workation and group trips gain popularity

Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 18,8 mln. in August, compared to EUR 18,9 mln. during the same period last year. The number of customers served was 25,9 thsnd., compared to 27 thsnd. in August last year.

In total, between January and August 2024, the company recorded revenues of EUR 129,5 mln. and 164 thsnd. customers, compared to revenues of EUR 139,6 mln. and 181 thsnd. customers in the corresponding period in 2023.

“Group-wide, we have sold around 90% of this year’s programme until the end of August. We succeeded in ensuring a stable load factor in summer, which is due to the timely management of the travel programme, adapting to the needs of travellers and the current market situation. As we announced when presenting the results for the first half-year, we are optimising our travel programme to ensure that we remain a reliable travel partner who guarantees quality to our customers. The trust by customers and partners and long-term relationships help us to navigate in this highly dynamic situation – we have succeeded in maintaining our leadership in the Baltic tourism market,” comments Kristijonas Kaikaris, CEO of Novaturas. 

After launching its winter early-booking travel programme in June, Novaturas has observed a stronger interest in exotic destinations throughout the summer than last year (+28% in total). Of all the long-haul winter destinations of the company (the newly introduced The Gambia, Dominican Republic, Thailand (Bangkok and Phuket), Vietnam, Tanzania, Indonesia, Mexico, Cuba, Mauritius, Sri Lanka, the Maldives, and the Seychelles), the most significant growth was recorded in travels to Vietnam (Saigon), Thailand (Bangkok) and Tanzania (Zanzibar).

Looking at the overall result of winter early bookings, the sales were also higher this August than in the corresponding period of 2023 – both in Lithuania (+27%) and Latvia (+34%), with only Estonia showing a decrease, which the company attributes to the general slowdown of the market due to the macroeconomic situation in that country.

During the summer period, the company, as usual, has been preparing at the group level for the autumn holiday period, the upcoming winter season and the launch of early bookings for next summer to be announced in September. For the summer 2025 period Novaturas will continue to offer its customers the widest range of recreational and sightseeing trips in the region, including travellers’ favourite destinations as well as those that have been rediscovered and established in recent years.

In addition, the company will continue to organize incentive trips for companies, workation and other larger group trips, which are gaining popularity. Around 70 trips of this kind have been planned (29 have already been completed) on a group-wide basis in Lithuania, Latvia and Estonia between spring and early winter, with over 6 300 travellers and customers to be flown and accommodated by Novaturas. These trips include a very large-scale workation trip from Lithuania. As announced, a significant number of large and medium-sized companies organising workation return to Novaturas every year for these services. This type of trip is also organised on the basis of individual requests.

About the company 

Novaturas Group is the largest and the only charter flights‘ local tour operator in the Baltic States, offering summer and winter trips to more than 30 destinations worldwide and more than 100 tours. Based on audited data, in 2023 Novaturas Group recorded revenues of EUR 208,3 million and served 259 000 passengers in Lithuania, Latvia and Estonia. 

Auksė Kriaučiūnaitė

Interim CFO