Preliminary February results of Novaturas: preparation for the summer, focus on efficiency

Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 11.6 mln. in February, compared to EUR 12.8 mln. at the same time last year. The optimised winter travel programme has enabled the company to continue to achieve significant efficiency, with a group-wide load factor of as much as 99% for leisure destinations in February. The number of customers served was approx. 11.2 thsnd., compared to around 12.2 thsnd. in February last year. 

“We are starting the summer season in mid-March, which is the earliest launch among the tour operators in the region. The priority of the company in preparing for it remains the timely tailoring of the travel programme to customers’ needs. We are opening the summer season with the first flight to Cyprus, a new Novaturas destination, which has been reintroduced after a longer time. In addition, in March, the first planes will take off to Turkey, a favourite destination for travellers.  

We welcome the coming months with an even higher load factor than a year ago, which shows that customers trust us, remain loyal and appreciate the benefits and quality of service provided by our company,” says Kristijonas Kaikaris, CEO of Novaturas Group.  

In addition, Novaturas is growing strongly in organising large groups and the increasingly popular workation and incentive trips for companies. The demand for these trips usually grows in spring; therefore, the company has been actively preparing for the implementation of planned trips. The companies which organize workation trips return to Novaturas every year for these services. 

The 2023 results presented, growing customer satisfaction 

At the end of February, the company presented its successful results for 2023. As announced, Novaturas generated revenues of EUR 209 mln., which is 6% more compared to 2022, according to unaudited figures. The company’s EBITDA grew sevenfold to EUR 5.5 mln. The loss of EUR 0.6 mln. recorded for 2022 was replaced by an annual profit of EUR 3.7 mln. last year. The company’s revenue and EBITDA last year outperformed the last five years. 

Last year’s focus was not only on the main holiday destinations popular among travellers, such as Turkey, Greek islands, Bulgaria, Italian and Spanish resorts, Egypt, Tenerife, Madeira, but also on the growing number of travellers to the highly successful Montenegro, as well as to Tunisia. 

The widest range of destinations in the region and its prompt management is the competitive advantage of Novaturas, enabling it to focus on the areas of highest potential. When commenting on the goals for 2024, the CEO of Novaturas Group emphasises that the company will strive to continue to improve the traveller experience and to ensure sustainable profitability, while maintaining its leadership in the region. 

“We will focus on the profit indicators that we managed to achieve last year. We are ready to react flexibly to market dynamics, adapt our travel programme to potential economic or geopolitical uncertainties, and keep a close eye on traveller behaviour. Our focus on technology and data analytics-based solutions to provide convenience to our customers also remain among our strategic directions,” comments Mr Kaikaris. 

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. In 2023, Novaturas Group recorded revenues of EUR 209 million and served 259 000 passengers in Lithuania, Latvia and Estonia.    

Vygantas Reifonas   

CFO of AB Novaturas