Preliminary July results for Novaturas: 75% completion of the full-year programme and a growing interest in exotic destinations

Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 20.7 million in July, compared to around EUR 20.9 million at the same time last year. The company served approx. 29 500 customers, and last year this figure was almost identical at around 29 600. 

Total revenues recorded in the period from January to July account for 120.7 million – almost 9 per cent more than in the same period in 2022. The number of customers served was 154 000, compared to around 158 000 in the same period last year.

“In July, we recorded our 200 000th customer of the year in terms of all trips sold – both completed and pending. At Group level, we have already sold around 75% of the year’s programme as the third quarter has just started. We are seeing continued growth in early winter bookings, which are 2 times better than at the same time last year. This is also influenced by a roughly 3-fold increase in long-haul sales. 

We offer a total of 12 exotic destinations in our winter programme. Thailand, Cuba, Dominica, Tanzania are the most popular destinations among our customers, and we also see a strong interest in the newly launched Vietnam after some break. The return of this destination to the programme has really paid off, as it is already the second most popular exotic destination in the entire winter trip offering – we estimate that Vietnam is chosen by one in seven long-haul customers,” says Vitalij Rakovski, CEO of Novaturas Group. 

Clearly seeing that strategically thought-out advance planning leads to good results, this year the company announced the launch of bookings for the 2024 summer season very early. Novaturas Group is the first in the entire Baltic tourism market to launch bookings for the Turkey destination in the first half of August. It is also the earliest start of the summer season in the company’s history of the last decade.  

These results have been achieved thanks to long-standing and strong relationships with partners, which have enabled a more flexible approach to the standard market rules.

With the launch of early bookings for Turkey, the company offers an attractive package of extra services that provide travellers with flexibility, security guarantees and additional holiday options. The aim is to provide an even better customer experience.

In addition, the company offers an updated range of hotels in Turkey, including brand-newly opened, renovated or other attractive accommodation locations that offer a very comfortable stay. As part of its strategy of sustainable travel, Novaturas is even more focussing on hotels that adhere to sustainability principles.   

The full 2024 summer programme and new destinations will be announced in September.

Flexibility and responsiveness as regards the situation in Rhodes

Due to the fires and the safety situation in Rhodes at the end of July, the company has revised the schedule of flights to and from the island, rescheduled some flights in August, optimised the programme in some areas, and refocused on other destinations.  

The rapid response to the situation has enabled customers to choose the option that suits them, whether it is to continue their journey to the safe resorts of Rhodes, to choose new destinations or to choose other alternatives. In the first weeks, a larger number of customers changed their travel plans to alternative destinations such as Turkey, Bulgaria, Crete and the company offered flights and accommodation accordingly. As the situation in Rhodes has stabilised, there has been a return of interest in this destination.

At the end of August, Novaturas will announce its financial results for the first half-year.

About the company 

Novaturas Group is the largest and the only local tour operator in the Baltic States, offering summer and winter trips to more than 30 destinations worldwide and more than 100 tours. In 2022, Novaturas Group recorded revenues of EUR 197 million and served 267 000 passengers in Lithuania, Latvia and Estonia.

Vygantas Reifonas 

CFO of AB Novaturas