Preliminary financial results for 11 months of 2020

Restrictions caused by the COVID-19 virus forced “Novaturas” Group to temporarily suspend its operations in all three markets in November for the second time in a year. The Company operated mainly only return flights to return travelers from the resorts of Cyprus and Crete and due to existing restrictions was unable to resume flights to the main winter holiday destination – Egypt.

In November, the leading tour operator in the Baltic States “Novaturas” turnover reached EUR 0.2 million and was 98% lower than the same time last year. Cumulative January-November turnover reached EUR 32.4 million and was 81% lower than the corresponding time last year. In November, “Novaturas” Group served 319 clients – 97% less than in the corresponding period last year. During January-November the Company served 47.8 thousand tourists, 83% lower than last year.

"Traveling all around the world has been slowed down in November by the second wave of quarantine as the states are fighting the spread of the virus. We are exploiting this period for the preparation for the upcoming 2021 holiday season: communicating with our partners abroad, reviewing next year's contracts, complementing our product portfolio, considering new possible holiday destinations. In the absence of usual operations, we do all this invisible for our travelers work to be prepared for a strong start. At the same time we keep our focus on disciplinary adherence to the cost optimization policy in order to secure stronger foundations for our performance indicators improvement when we will be able to operate more sustainably”, says Audronė Keinytė, Head of “Novaturas” Group.

About Novaturas Group



AB Novaturas Group is the largest tour operator in the Baltic States, offering summer and winter package holidays in more than 30 destinations worldwide and more than 100 sightseeing routes. In 2019, the group served more than 293 thousand customers.

CFO

Tomas Staškūnas 

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