LHV Institutional Baltic Insight, September 17th, 2020
* Novaturas AB (hereafter referred to as ‘Novaturas’ or the ‘Company’) has been one of the hardest-hit Baltic companies by the coronavirus pandemic. While it has managed to resume some of its operations, the levels are still insignificant compared to its standard level of operations.* On 15th September 2020, the Company reported its August 2020 turnover of EUR 2.9m (-83.3% y-o-y) and disclosed that the number of clients served declined by 82.3% y-o-y to 5.7k.
* Since the COVID-19 incidence limit has been increased to 25 cases per 100,000 population, the Company has been able to resume its flights to other European Union countries. The Company, though, is still waiting for its popular destinations (Turkey and Egypt) to be added to the third country list.
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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