LHV Institutional Baltic Insight, February 10th, 2021
* Novaturas AB (NTU1L LH), in line with the global tourism sector, was severely hit by the COVID-19 crisis. In November 2020, Novaturas was forced to suspend its operations again, following the second quarantine’s announcement in the Baltic States, which hurt the Company’s financial and operating results significantly.* In Q4 2020, the total net sales plunged to EUR 2.6m (-94% y-o-y) with net sales from flight package tours and other sales dropping to EUR 1.6m (-95% y-o-y) and EUR 0.9m (-81% y-o-y), respectively. Please also refer to the tables and charts in the attachment.
* Given that the vaccination processes have started all over the world, the tests are becoming more accessible, and tourism infrastructure is adapting rapidly to new health and safety requirements, more holiday destinations would become available in 2021 which might lead to a recovery in the Company’ business in the coming quarters. For now we continue to retain our 'under review' status in terms of forecasts and fair value range.
Novaturas AB is a Lithuania-based company, which is engaged in the provision of travel services in the Baltic countries. The Company operates through three divisions: All Inclusive vacation packages around all time year; Sightseeing tour by coach and plane to approximately 30 destinations across the world, as well as ski trips. It also offers airline tickets and hotel accommodations. It sells tours through travel agencies and its Website.
LHV Bank is an independent pan-Baltic bank, based on Estonian capital. The company was founded in 1999 by two founders of Hansapank (today’s Swedbank in the Baltics) and has been offering a full range of investment services for 15 years. In May 2009, LHV received a credit institution licence allowing it to provide all banking services.
The head office is situated in Tallinn, Estonia. Cross-border services are offered in Vilnius, Lithuania and in Riga, Latvia. LHV provides brokerage (institutional and retail), asset management, banking and capital markets services. Compared to other banks, we are more innovative and have more solid experience in investment and entrepreneurship.
The Bank, together with the Group asset management company employs over 320 people. LHV Group shares are listed on Nasdaq Tallinn.
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