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News and Press Releases
15
November
Preliminary October results of Novaturas: 5% increase in revenue, continued growth in load factor
Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 26.1 mln. in October, which is an increase of 5%, compared to EUR 24,9 mln. in October 2023. The company served 28 thsnd. customers, compared to 30 thsnd. at this time last year. The increase in revenue was driven by the successful diversification of travel destinations, the growth of early bookings and higher volumes of long-haul flights. Furthermore, in October, the company succeeded in delivering positive financial results for most of its destinations and achieving a very high load factor.
11
November
Novaturas earned EUR 61.1 mln. in the third quarter and recorded a profitable September
Novaturas Group, the largest tour operator in the Baltic States, generated revenues of EUR 61.1 mln. in the third quarter of this year. This is 3,6% less than in the corresponding quarter of 2023. The company’s EBITDA (earnings before interest, taxes, depreciation and amortisation) was negative and amounted to EUR 2.6 mln., whereas the net loss was EUR 2.9 mln. However, the negative results for the quarter were mitigated by a profitable September.
14
October
Preliminary September results of Novaturas: high load factor, strong winter early booking positions
Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 22,6 mln. in September, compared to EUR 24,1 mln. during the same period last year. The number of customers served was 27 thsnd., compared to 29 thsnd. in September last year.
04
October
Darius Undzėnas becomes Chief Financial Officer of Novaturas Group
Novaturas Group, the leader in the Baltic tourism market, announces that Darius Undzėnas will take up the position of the company’s Chief Financial Officer (CFO) from October 7. With many years of comprehensive experience in financial management, Mr Undzėnas joins the Group’s top management team in Lithuania, Latvia and Estonia.
18
September
Novaturas presents next summer destinations and the widest range of travels in the region
Novaturas Group, the largest tour operator in the Baltic States, announces its summer holiday programme for 2025. The company operating in this market for the longest period – presenting its 26th summer season – will continue to offer the widest range of leisure and sightseeing trips in the region.
13
September
Preliminary August results of Novaturas: winter sales continue to grow, workation and group trips gain popularity
Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 18,8 mln. in August, compared to EUR 18,9 mln. during the same period last year. The number of customers served was 25,9 thsnd., compared to 27 thsnd. in August last year.
23
August
Novaturas announces its half-year results: although revenues decreased, leadership was maintained
Novaturas Group, the leader in the Baltic tourism market, has reported revenues of EUR 91.3 mln. generated in the period from January to June this year. This represents a decrease of 9.9%, compared to the first half-year of 2023, when revenues reached EUR 101.4 mln. Nevertheless, the strategic goal of maintaining regional leadership in a dynamic environment has been achieved.
14
August
Preliminary July results of Novaturas: a growing demand for exotic trips
Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 19.4 mln. in July, compared to EUR 20.7 mln. during the same period last year. The number of customers served was 25.7 thsnd., compared to 29.5 thsnd. in July last year.
05
August
Novaturas expands its range of exotic trips and introduces a new destination - The Gambia
Novaturas introduces a new destination in Africa – The Gambia, thus expanding its wide range of long-haul winter destinations. Novaturas is currently the only major tour operator in the Baltic States to offer scheduled flights and package tour early booking services to The Gambia. Trips to this African country will be operated by Turkish Airlines from Lithuania, Latvia and Estonia.
19
July
The CFO of Novaturas will change
Novaturas Group, the leader in the Baltic tourism market, announces a change in its management team. Vaidrius Verikas resigns as Chief Financial Officer on 19 July and the company is currently looking for a new candidate.
15
July
Preliminary June results of Novaturas: growing early bookings for winter season
Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 21,6 mln. in June, compared to EUR 22 mln. during the same period last year. The number of customers served was 28,8 thsnd., compared to 30,5 thsnd. in June last year.
14
June
Preliminary May results of Novaturas: a new service for customers, the full programme for next winter
Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 17,3 mln. this May, compared to EUR 21,5 mln. during the same period last year. The number of customers served was 26,6 thsnd., compared to 29,9 thsnd. in May last year.
13
June
Novaturas takes over its customers' bookings from Beta Travel and will implement their trips
Novaturas announces that it terminates its contract with Beta Travel with effect from 13 June and proactively takes over all the obligations of this travel agency, which are related specifically to the trips organised by Novaturas. The company assures that it will implement all trips for its customers. Out of concern for the travellers and their comfort, Novaturas has expediently initiated discussions with the representatives of Beta Travel on a clear plan of action and has taken decisions.
07
June
Concerning legal proceedings against UAB GetJet Airlines regarding a charter contract
AB Novaturas (hereinafter referred to as the Company) announces that on 7 June 2024 it filed a cassation appeal against the ruling of the Court of Appeal of Lithuania of 7 March 2024 and the judgment of Vilnius Regional Court of 11 September 2023 passed in relation to the case between the Company and UAB GetJet Airlines (hereinafter referred to as GetJet) concerning the circumstances related to the performance of the charter contract of 3 December 2018 (hereinafter referred to as the Contract).
04
June
Novaturas presents the full programme for next winter and a new destination
On 4 June, Novaturas Group, the leader in the Baltic tourism market, presents the full programme for next winter and a new destination – the Spanish island of Gran Canaria. The company offers a wide range of exotic trips to Thailand, Vietnam, Tanzania, Indonesia, Mexico and other long-haul destinations, as well as ski resorts in France, Austria and Italy, with hotels in the Piedmont region as a new addition to the range. The next winter programme also includes the most popular resorts in Egypt, Madeira and Tenerife, as well as a 50% increase in the offering to the United Arab Emirates from Lithuania and Latvia.
29
May
Novaturas starts cooperation with the Lithuanian start-up MoreMins and introduces new service to customers
Novaturas, the largest tour operator in the Baltic States, is launching a new service with Lithuanian start-up MoreMins to make it cheaper and easier for its customers to use the internet outside the European Union. The company provides travellers with a multi-country eSIM mobile internet service that works on the networks of major operators in different countries. This allows you to enjoy high quality and low-cost mobile data throughout your trip, both in non-EU and EU countries. According to experts, this solution is much more secure than the WI-FI networks normally available in public places.
22
May
Novaturas Group earned EUR 34.5 mln. in the first quarter
Novaturas Group, the leader in the Baltic tourism market, has announced its results for the first quarter of 2024. In January–March, the company generated revenues of EUR 34.5 mln. This is EUR 3.7 mln. (10%) less than in the corresponding period of 2023. The company’s EBITDA (earnings before interest, taxes, depreciation and amortisation) was EUR 317 thsnd.
15
May
Preliminary April results of Novaturas: focus on workation and trips for groups, start of the summer season
Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 15.1 mln. in April, compared to EUR 19 mln. in the corresponding period last year.
02
May
Vaidrius Verikas becomes CFO of Novaturas Group
Novaturas Group, the leader in the Baltic tourism market, announces changes in its management team. With a solid track record, Vaidrius Verikas joins the top management as the Group CFO on 2 May. He will replace Vygantas Reifonas, who has been managing the finances of the company for more than a year and will pursue his career outside the organisation.
30
April
Novaturas announces audited results, priorities for this year include improving customer experience and transforming the organisation
Novaturas, the largest tour operator in the Baltic States, has published its audited performance report for 2023 and adjusted financial results. Novaturas Group generated revenues of EUR 208,3 mln. in the Baltic States last year, which is an increase of 6%, compared to 2022. Its EBITDA (earnings before interest, taxes, depreciation and amortisation) reached EUR 5.5 mln. last year, which means that the loss of EUR 0.7 mln. recorded the year before has been replaced by an annual profit of EUR 3.6 mln.
15
April
Preliminary March results of Novaturas: tailoring of the programme, focus on travellers' expectations
Novaturas Group, the leader in the Baltic tourism market, recorded revenues* of EUR 13.8 mln. in March – the same as in the corresponding period in 2023 (EUR 13.8 mln.). The number of customers served was approx. 14.8 thsnd., compared to around 15.5 thsnd. in March last year.
15
March
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.
07
March
Novaturas announces the outcome of the legal proceedings against UAB GetJet Airlines: no significant impact on operations
Novaturas informs about the ruling of the Court of Appeal of Lithuania of 7 March 2024 in the case of Novaturas v. GetJet Airlines regarding the circumstances related to the performance of the charter contract of 3 December 2018. The Court of Appeal of Lithuania upheld the judgment passed by Vilnius Regional Court on 11 September 2023.
28
February
Novaturas earned profit of EUR 3.7 mln. - the targets for this year include operational efficiency and improved customer experience
According to unaudited data, Novaturas, the largest tour operator in the Baltic States, generated revenues of EUR 209 mln. last year. This is an increase of 6%, compared to 2022. The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 7 times 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.
15
February
Preliminary January results of Novaturas: efficiency improvement, active participation in tourism fairs
Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 10.7 mln. in January – the same as in the corresponding period in 2023. Optimised winter travel offering has enabled the company to achieve significant efficiency in January, with a group-wide load factor of 98% for leisure destinations. The number of customers served was approx. 9.7 thsnd., compared to around 10.3 thsnd. in January last year.
15
January
Preliminary December results of Novaturas: new airline partners in Estonia, focus on sustainability
Novaturas Group, the leader in the Baltic tourism market, estimates that the total revenue of the company for the period of January to December, 2023 reached EUR 208 mln., which is a 6% increase compared to the same period in 2022. The number of customers served was approx. 259 thsnd., compared to around 267 thsnd. in the same period last year.
21
December
Novaturas introduced more sustainable hotel options for travellers
Novaturas is the first major tour operator in the Baltic States to offer customers the option of selecting hotels based on sustainability labeling. In addition to location, room type, and other amenities, customers can now choose accommodations that operate responsibly and focus on managing social and environmental impacts. These hotels are marked with the “Sustainable choice” label on the company's renewed website. Currently, these hotels already make up over a third of the company's total offerings in Lithuania, Latvia, and Estonia, and the selection is set to expand even further.
15
December
Preliminary November results of Novaturas: customer growth, rising early bookings
Novaturas Group, the leader in the Baltic tourism market, records a growth in revenues by around 15% this November. The revenues recorded this year account for EUR 9.9 mln., compared to around EUR 8.6 mln. at the same time last year. In addition, the number of customers is also on the rise, with almost 11 thsnd. customers served, compared to the figure of around 9.8 thsnd. last year.
12
December
Kristijonas Kaikaris will head Novaturas Group
Novaturas Group, the leader in the Baltic tourism market, announces a new CEO. Kristijonas Kaikaris, who has extensive experience in managing international IT, aviation and transport companies, will take up the position of the company's CEO on 13 December this year. He will replace Vitalij Rakovski, who has been in the role until now.
12
December
Novaturas Group announces the long-term partnership with Heston Airlines in Estonia
Novaturas Group, the leader in the Baltic tourism market, which also includes Estonian Novatours, signed a cooperation agreement with Heston Airlines, an airline focused on charter and ACMI* flights. From the start of the next summer season, Heston will become Novatours' main flight partner in Estonia. This strategic partnership aims to offer an excellent travel experience, enhancing the overall quality and reliability of services provided by both entities.
28
November
9-month results of Novaturas: EBITDA reached EUR 7.9 mln., revenue grew by 7.4%
Novaturas Group, the leader in the Baltic tourism market, is well on its way to fulfilling its annual profit forecast that has been doubled after the first half of 2023. The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) grew by a further EUR 2.3 mln. during this quarter to reach EUR 7.9 mln. for the period of January–September.
15
November
Preliminary October results for Novaturas: prompt response to changes in demand, customer trust
Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 24.9 mln. in October, compared to around EUR 25 mln. at the same time last year. The company served more than 30 thsnd. customers, compared to around 31 thsnd. last year.
13
October
Preliminary September results for Novaturas: solid start to next summer's sales, decision to repurchase a part of own shares
Novaturas Group, the market leader in the Baltic tourism market, recorded revenues of EUR 24.1 million in September, compared to around EUR 24 million at this time last year. The company served more than 29 th. customers while last year September ended with 32 th.
18
September
Novaturas to buy back and distribute almost 76,000 of its shares to employees for EUR 0.25 million
Novaturas, the largest tour operator in the Baltics, has announced that it will make a contribution of almost EUR 0.25 million to buy back up to 1% of the company’s shares via the Nasdaq stock exchange. The company intends to distribute the purchased shares to employees over the next three years.
15
September
Preliminary August results for Novaturas: confident continuation of the summer season, strong pre-sales positions
Novaturas Group, the market leader in the Baltic tourism market, recorded revenues of EUR 18.9 million in August, compared to around EUR 18 million at this time last year. The company served around 27,000 customers, up from around 27,000 last year.
13
September
Novaturas presents a full programme for the next summer: up to 15 per cent growth, new destinations
Novaturas Group, the largest tour operator in the Baltic States, is the first tourism market participant in the region to present their full early booking programme for 2024 summer and new destinations – Cyprus and Majorca. The longest-operating company in the market, which is already counting its 25th summer season, will also increase its offer on the Greek islands, at Spanish resorts, and in Montenegro, Croatia and Madeira.
29
August
Novaturas Group's H1 EBITDA hits EUR 5.8M, exceeding the result for 2019
Novaturas Group has recorded a solid growth in the second quarter and after the first half-year its EBITDA has now exceeded the result for the full year 2019. The prompt response to changes in travel demand, the diversification of destinations, the improved quality of service and the management of fuel price risk allow to increase full-year financial forecast again.
14
August
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.
14
July
Preliminary June results of Novaturas: strong positions in summer destinations of competitive advantage, growing winter sales
Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 22 million in June, compared to around EUR 22.9 million at the same time last year. The company served approx. 30 500 customers, compared to around 32 000 in 2022. The average travel package price for June remains relatively stable and similar to last year’s, despite a reduction of around 30 per cent in aviation fuel costs compared to last year.
22
June
New Chairman of the Board of Novaturas Group elected
Novaturas Group, the leader in the Baltic tourism market, announces the election of a new Chairman of the Board of Directors, following the announcement of changes to the Board. Gediminas Almantas, an independent member of the new Board, has been appointed as the new Chairman.
15
June
Preliminary May results of Novaturas: strategically thought-out programme, responsiveness to customer needs
Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 21.5 million in May, compared to around EUR 22 million at the same time last year. The company served approx. 30 000 customers, and May is the most active month of this year. Compared to May 2022, the number of travellers is around 14% lower, which is attributed to the implementation of a strategically thought-out, non-redundant programme this year and to the bookings of another tour operator (Kidy Tour) taken over at a similar time last year, which led to a sharp increase in customers in the corresponding period last year.
07
June
Novaturas Group announces changes to its Board
Novaturas Group, the leader in the Baltic tourism market, announces changes in the company’s Board following the General Meeting of Shareholders. Three members have been elected for a new term of office: Tomas Korganas and Gediminas Almantas, who will join the Board, and Ugnius Radvila, who will continue to work in the Board.
30
May
Q1 2023 results of Novaturas Group: steady growth and updated positive financial forecast
Novaturas Group, the leader in the Baltic tourism market, recorded solid growth in the first quarter of this year, one of the best quarters in the company’s history. The diversified and broadest destination programme in the region as well as the efficient cost management allow to update the financial forecast for 2023. The expected EBITDA of EUR 3–5 million, announced at the beginning of the year, has been adjusted to a forecast of EUR 4–6 million.
15
May
Preliminary April results of Novaturas: sustainable implementation of the annual programme, increased early bookings for winter
This April, Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 19 million, which is up 8.6 per cent compared to EUR 17.5 million in the same month of 2022. The company served around 26 thousand customers in April. In total, in the period from January to April, the Group recorded 54.9 million in revenue, up 7.6% compared to the same period in 2022, and 63.9 thousand customers, up 3.9% compared to the same period last year.
20
April
Novaturas Group growth strategy: business expansion through technologies, sustainability and attention to clients & employees
The biggest tour operator in the Baltics, Novaturas Group, has introduced a new business strategy for 2023-2025. The company, having successfully survived the downturn of the tourism industry, has raised ambitious goals for growth and regional leadership, focusing on four main areas: technological advancement, improvement of traveler experience & choices, more sustainable trips and involvement of the whole team.
14
April
Preliminary March results of Novaturas: a solid first quarter and increased travel offering volumes
This March, Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 13.8 million, which is up 27 per cent compared to EUR 10.9 million in March 2022. The company served around 15.5 thousand customers, which is an increase of 9.7 per cent, or 1.4 thousand passengers, compared to the same period last year.
12
April
Novaturas increases its offering volumes to Montenegro and Tunisia - interest in these destinations grows
Novaturas Group, the leader in the Baltic tourism market, is increasing its offering volumes to Montenegro and Tunisia in response to the growing demand for these destinations. The company announces the launch of additional flights to these destinations and new travel offers in May and June. The increase in travel offering from Lithuania to Montenegro these coming months is around 20 per cent and to Tunisia around 30 per cent compared to the volumes planned earlier for this summer season.
04
April
Novaturas launches early booking sales to key destinations for the next winter
Novaturas Group, the largest tour operator in the Baltic States, is launching early bookings for the 2023–2024 winter season. From 4 April, travellers can buy travel packages to the three main winter holiday destinations: Egypt, Tenerife and the Portuguese island of Madeira. In addition, early bookings for the winter season sightseeing trips by plane and coach, including more than 20 new destinations, start on this day.
15
March
Preliminary February results of Novaturas: a strong finish of the year provides a solid foundation for sustainable growth
This February, Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 12.8 million, which is up 36 per cent compared to EUR 9.4 million in February 2022. This February, the company served around 12.2 thousand customers, which is an increase of 6.4 per cent, or 0.7 thousand passengers, compared to the same period last year.
13
March
Changes in the team of Novaturas: focus on data-driven organisation, financial management and technological progress
Novaturas Group, the largest tour operator in the Baltic States, announces changes in its management team. On 13 March, Vygantas Reifonas, who has many years of experience in this field, takes up the position of Chief Financial Officer (CFO) and joins the company’s management board. Arūnas Žilys, who has held this position until now, takes over the Head of Analytics of the Group in order to strengthen data integration in company’s operations and implement advanced pricing solutions.
27
February
The 2022 results of Novaturas Group: challenge management, significant customer growth and double revenues
2022 was a year of managed challenges for Novaturas Group, the leader in the Baltic Tourism market. Its ambitious goals at the start of the year were adjusted by the war in Ukraine and the resulting slowdown in travel demand, as well as the drastic rise in jet fuel prices, which led to a temporary loss. However, timely and targeted decisions helped to significantly improve the performance in the second half-year.
21
February
Novaturas CEO: solid sales at tourism fairs are a strong foundation for a successful summer season
Novaturas Group, the leader in the Baltic tourism market, shares that the tourism fairs traditionally held in Lithuania, Latvia and Estonia from the end of January to mid-February have been very successful this year. The company estimates that group-wide sales at the fairs are up by almost 40 per cent compared to last year and more than 20 per cent higher than in 2019.
15
February
Novaturas announces preliminary results for January: favourable travel planning behaviour and steadily growing income
This January, Novaturas Group, the leader in the Baltic tourism market, generated EUR 10.7 million in revenue, which is 45 per cent more than the EUR 7.4 million recorded in January 2022. This continues the marked growth in advance bookings that already began to be observed in autumn and is closely related to the customer habit of planning trips farther and farther in advance. The company estimates that this January, it sold 25 per cent more trips for the upcoming summer than it did last year; it also exceeded its 2019 results.
13
February
After record growth last year, Novaturas is recognised by Nasdaq for excellence in overcoming challenges
Novaturas Group, the leader in the Baltic tourism market, was recognised at the Nasdaq Baltic Awards 2023 as the company that did the best job overcoming recent challenges and managing market change. Novaturas won the title of “The Challenge of the Year” – an award specially established by Nasdaq Vilnius for the most significant contribution to the development of the Lithuanian and Baltic capital markets. The income achieved in 2022 reflects the company’s balanced and targeted growth.
02
February
AB “Novaturas” financial calendar for the year 2023
AB “Novaturas” plans to publish regulated and investors related information for the year 2023 on the following dates.
13
January
Preliminary December results of Novaturas: the number of passengers in long haul destinations doubled
In December, Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 9.5 million. This is 27% more than in December 2021, when revenues accounted for EUR 7.4 million.
30
December
Novaturas offers all employees a stock option programme
AB Novaturas, the leading tour operator in the Baltic States, was the first in the Lithuanian tourism market to introduce a stock option programme to all employees. From now on, they will be able to buy stocks in the company at a price lower than the market price.
15
December
Novaturas announces preliminary results for November: a well-planned start to the winter season
In November this year, Novaturas Group, the leader in the Baltic tourism market, generated a revenue of EUR 8.6 million, a 10% increase compared with November 2021, when revenue reached EUR 7.8 million. The Group’s revenue growth was achieved despite a lower number of customers served (9,800 versus 11,600).
21
November
Novaturas team welcomes Rasa Barisienė, the new Sales Director
Novaturas, the largest tour operator in the Baltic States, is strengthening its top management team. Rasa Barisienė, who has many years of experience in the tourism industry, joins the company as the Sales Director as of 21 November. She will replace Albert Zinevič who has held this position to date.
17
November
Novaturas group financials for 9M 2022: Strong comeback after challenging Q2
After a more challenging first half, we returned to the path of profitable activity in July-September, with EBITDA reaching EUR 2.1 million in Q3, which is more than 10 times higher than during the same period in 2021, and 63 per cent more than Q3 2019 results. This was accomplished by responding to changing customer preferences and optimising the travel offers accordingly, improving the punctuality of flights in Estonia, achieving a higher average package price, and responding to fluctuations in jet fuel prices in a timely manner.
15
November
Preliminary sales results for October 2022: record revenues and a solid foundation for a successful 2023 summer season
In October, Novaturas Group served 31 000 customers and achieved the record revenues of EUR 25 million. By comparison, the figures in October 2021 were 27 thousands customers and EUR 19 million in revenues. In total, the company served 248 thousands customers in January–October this year, which is 64% more than in the same period in 2021. The total turnover for the period January–October this year reached EUR 178 million, which is double the results for the respective period in 2021.
14
October
Preliminary financial results for 09 month of 2022 - record breaking revenue in the history of Novaturas
In September, “Novaturas” group served 32 thousand customers, and the group’s revenue amounted to EUR 24 million. In total, during January – September, the company served 216 thousand customers, 75% more than the same period last year. Cumulative January – September turnover reached EUR 153 million and was twice higher than the corresponding time in 2021.
11
October
AB "Novaturas" launches early bookings for summer 2023: strengthening competitive advantages and customer focus
On 11 October, AB "Novaturas", leader of the tourism market, presents the 2023 summer holiday season and introduces new holiday destination that is returning to the portfolio - Barcelona. At the same time, the group of companies strengthens its competitive advantage in the Baltic States by offering not only a wide package of additional benefits during early bookings, but also the lowest price guarantee service.
15
September
Preliminary financial results for 08 month of 2022 - focus on aviation and high traveler reliance
In August, “Novaturas” group served 27 thousand customers, and the group’s revenue amounted to EUR 18 million. In total, during January – August, the company served 185 thousand customers, 2 times more than the same period last year. Cumulative January – August turnover reached EUR 129 million and was more than twice higher than the corresponding time in 2021.
18
August
Novaturas group financials for 6M 2022: high fuel prices effected company' profitability
Novaturas group started 2022 with strong sales results. The income generated during the first half of 2022 surpassed both the results for the same period in 2021 and the pre-pandemic results in 2019. The company generated EUR 92M of income during the first half-year of 2022 and served 128K travelers throughout the entire group. However, rapidly increasing aviation fuel prices had a negative impact on profitability figures and therefore the EBITDA was negative and reached EUR 750K.
12
August
Preliminary financial results for 07 month of 2022
In July, “Novaturas” group served 30 thousand customers, and the group’s revenue amounted to EUR 21 million. In total, during January – July, the company served 158 thousand customers, 2 times more than the same period last year. Cumulative January – July turnover reached EUR 111 million and was 2.5 times higher than the corresponding time in 2021.
15
July
Preliminary financial results for 06 month of 2022
In June, “Novaturas” group served 32 thousand customers, and the group’s revenue amounted to EUR 23 million. In total, during January – June, the company served 128 thousand customers, 4 times more than the same period last year. Cumulative January – June turnover reached EUR 90 million and is almost 3 times higher than the corresponding time in 2021.
15
June
Preliminary financial results for 05 month of 2022
In May, “Novaturas” group served 35 thousand customers, and the group’s revenue amounted to EUR 22 million. In total, during January-May, the company served 96 thousand customers, 3 times more than the same period last year. Cumulative January-May turnover reached EUR 67 million and is almost 4 times higher than the corresponding time in 2021.
13
May
Preliminary financial results for 04 month of 2022
In April, “Novaturas” group served 25 thousand customers, and the group’s revenue amounted to EUR 17.5 million. In total, during January-April, the company served 61.5 thousand customers, 222% more than the same period last year. Cumulative January-April turnover reached EUR 45 million and was 278% higher than the corresponding time in 2021. The company exceeded the results of pre-pandemic year, compared to the corresponding period of 2019 the revenue grew by 3%.
09
May
Arūnas Žilys becomes the new CFO of “Novaturas” group
The leading tour operator in the Baltics AB “Novaturas” announces the changes in the company's top executives’ team. As of the 9th of May 2022, Arūnas Žilys takes on the position of chief financial officer. Arūnas also joins the company's top executes team.
28
April
“Novaturas” group financials for the Q1 2022: strong start of 2022 despite facing new uncertainties
The leading tour operator “Novaturas” has started 2022 with solid sales results. In the last month of the first quarter, the group for the first time since the beginning of the pandemic, have exceeded the results of the same month of 2019 in terms of number of travelers served and the revenues generated. However, globally rising aviation fuel prices have adjusted the company's profitability ratios.
22
April
“Novaturas” intends to take over the bookings of “Kidy Tour” travelers
The leading tour operator in the Baltic states AB “Novaturas” intends to take over tour operator’s “Kidy Tour” obligations to the travelers who have booked their summer vacations in Turkish, Greek, and Bulgarian resorts.
15
April
Preliminary financial results for 03 month of 2022
In March, “Novaturas” group served 14.2 thousand customers, and the group’s revenue amounted to EUR 10.9 million. In total, during January-March, the company served 36.4 thousand customers, 11% less than the same period in pre-pandemic 2019. Cumulative January - March turnover reached EUR 27.6 million and was only by 4% lower than the corresponding time in 2019.
13
April
“Novaturas” launches early booking sales to key destinations for the 2022-2023 winter season
The leading tour operator in Baltic states AB “Novaturas launches its first early booking sales for the winter season of 2022-2023. From the 12th of April, travelers can buy travel packages and flight tickets to main winter holiday destinations: Egypt, Tenerife and the Portuguese island of Madeira.
01
April
“Enlight Research” initiate coverage on AB “Novaturas”
AB “Novaturas” announces that “Enlight Research” an investment research company providing high quality analysis to private and institutional investors, has added “Novaturas” group to its list of researched companies and initiated equity research coverage. The research provides insights on the company's business prospects, their evaluation and forecasts. The research is available on “Enlight Research” (link) and “Novaturas” group (link) websites.
15
March
Preliminary financial results for 02 month of 2022
In February, “Novaturas” group served 11.5 thousand customers and group’s revenue amounted to EUR 9.4 million. During the second month of the year the company has operated flights from the Baltic markets to Egypt, Tenerife, Madeira, United Arab Emirates, skiing resorts in France and Italy and long-haul destinations - Cuba, Mauritius, Thailand, Mexico, and Zanzibar. In January 2021 “Novaturas” group renewed flight programs from Lithuania and Estonia to Egypt and Tenerife.
01
March
AB “Novaturas” announcement: the group does not operate in Russia and Belarus and organizes assistance to travelers from Ukraine that are trapped abroad
The largest tour operator of local capital in the Baltic States AB “Novaturas” in response to Russia's aggression against Ukraine informs that the company has not suffered any significant disruptions to date and is operating smoothly. Following the closure of the Ukrainian airspace for civilian aviation, flights routes have been corrected in compliance with European Aviation Safety Agency recommendations to bypass the Ukrainian airspace with the safe distance of 200 km. Due to the mentioned reasons, the duration of flights have slightly extended, but are not canceled, and summer holiday program does not change.
15
February
Preliminary financial results for 01 month of 2022
During January, “Novaturas” group served 10.7 thousand customers and group’s revenue amounted to EUR 7.2 million. During the first month of the year the company has operated flights from the Baltic markets to Egypt, Tenerife, United Arab Emirates, skiing resorts in France and Italy and long-haul destinations - Cuba, Mauritius, and Mexico. In January 2021 “Novaturas” group due to the restrictions caused by the virus was forced to temporarily suspend its operations.
08
February
“Novaturas” Group Reports Results for 2021: Gradual Recovery of the Tourism Industry and Optimistic Forecasts for 2022
2021 was a year of a rapid recovery for the tour operator “Novaturas”: the lifting of travel restrictions revived the market. Changes implemented during the pandemic allowed the company to make the most of its growth opportunities.
26
January
Vitalij Rakovski becomes the new head of “Novaturas” group
The leading tour operator in the Baltics AB “Novaturas” announces the changes in the company's TOP executives’ team. Starting from the 26th of January 2022, Vitalij Rakovski takes over the position of general manager. He replaces Audronė Keinytė who have held this position since the January 2019.
14
January
Preliminary financial results for 12 months of 2021
In December, “Novaturas” group operated flights from the Baltic markets to Egypt, Tenerife, United Arab Emirates, Cuba, Mauritius, Mexico, and Seychelles. During December, the company served 9.5 thousand customers. Group revenue in December amounted to EUR 7.4 million.
12
January
After 22 years of operation AB "Novaturas" renewed its logo
The largest tour operator in the Baltics “Novaturas” introduces renewed and modernized company logo. The new logo does not include capital letters but retains the colors and symbols that are recognizable to the public. The company used the previous trademark for more than two decades.
15
December
Preliminary financial results for 11 months of 2021
In November, “Novaturas” group operated flights from the Baltic markets to Egypt, Tenerife, Madeira, Cuba, Mauritius, Mexico, and Seychelles. During November, the company served 11.6 thousand customers. Group revenue in November amounted to EUR 7.7 million.
17
November
“Novaturas” group redeems the remaining part of convertible bonds worth 2.5 million euros
The leading tour operator in the Baltics AB “Novaturas” redeems the remaining part of issued convertible bonds worth EUR 2.5 million. The group has redeemed the entire EUR 5 million worth emission of convertible bonds. The Company redeemed the convertible bonds before the terms agreed without any additional restrictions.
16
November
AB “Novaturas” introduces summer 2022 holiday season: 20 summer holiday destinations available
The leading tour operator in the Baltics “Novaturas” introduces summer 2022 holiday season in all the markets. During the early bookings of summer 2022, travelers from all the Baltics will be able to choose from 20 different holiday destinations available.
15
November
Preliminary financial results for 10 months of 2021
In October, “Novaturas” group operated flights from the Baltic markets to Turkey, Greek islands, Italy, Portugal, Spain, Egypt, and Mexico. During October, the company served 27.3 thousand customers. Group revenue in October amounted to EUR 19.4 million.
11
November
AB “Novaturas” strengthens its management team in Latvia
Leading tour operator in the Baltics AB “Novaturas” is strengthening its management team in Latvia. Sanda Roze with accumulated extensive experience in sales is joining the company as head of sales. Sanda will also be responsible for the organization of the Latvian office activities.
27
October
Novaturas group financials for 9M: holiday destinations portfolio approached the pre-pandemic period
During the first 9 months of this year, the company earned EUR 1.1 million net profit, while in the same period last year incurred a loss of EUR 3.7 million. The group's EBITDA during the first three quarters reached EUR 1.98 million, compared to a loss of EUR 1.58 million in the same period last year.
15
October
Preliminary financial results for 9 months of 2021
In September, “Novaturas” group operated flights from all the Baltic markets to Turkey, Greek islands, Montenegro, Italy, Portugal, and Egypt. During September, the company served 24.8 thousand customers. Group revenue in September amounted to EUR 15.5 million.
14
October
AB “Novaturas” sales director Albert Zinevič joins Top executives’ team
Leading tour operator in the Baltic states AB “Novaturas” is expanding its management team. Albert Zinevič, sales director, joins Top executives’ team.
22
September
AB “Novaturas” launches additional travel protection service "Self-isolation pause"
Considering the conditions dictated by the market and travelers, the leading tour operator in the Baltic States launches a new service "Self-isolation pause". This service allows the travelers to change the date, direction, or hotel of a purchased trip if, in case of a close contact with coronavirus infected person, the travelers have the obligation to isolate themselves.
15
September
Preliminary financial results for 8 months of 2021
In August, “Novaturas” group operated flights from Lithuania, Latvia, and Estonia to Turkey, Greek islands, Bulgaria, and Montenegro. During August, the company served 26.4 thousand customers. Group revenue in August amounted to EUR 15.3 million.
08
September
AB “Novaturas” repays a long-term bank loan earlier the terms agreed
The leading tour operator in Baltic states “Novaturas” repays a long-term loan to “Luminor Bank” AS. On the 7th of September 2021 the company returned the remaining EUR 3.04 million before the terms agreed.
06
September
Changes in AB “Novaturas” TOP executives’ team
The leading tour operator in the Baltic states “Novaturas” announces changes in the company's top executives’ team. Since the 6th of September 2021 CFO and member of TOP executives team Tomas Staškūnas leaves “Novaturas” group. Giedrius Ribakovas, a long-term employee starts as company’s head of Finance.
03
September
AB “Novaturas” has supplemented long-haul holiday destinations program with new exotic countries
The leading tour operator in the Baltic States “Novaturas” has supplemented long-haul holiday destinations program with new exotic countries - Mauritius, Zanzibar, Mexico, and Cuba.
16
August
Preliminary financial results for 7 months of 2021
In July, “Novaturas” group operated flights from Lithuania, Latvia, and Estonia to Greek islands, Turkey, Bulgaria, and Montenegro. During July, the company served more than 26 thousand customers, i. e. 55% more than in June. Group revenue in July amounted to EUR 15.1 million.
13
August
AB “Novaturas” resumes flight programs to skiing resorts
The leading tour operator in the Baltic States “Novaturas” resumes flight programs to Italian and French skiing resorts. Flights will be operated once a week from all Baltic countries.
29
July
Novaturas group financials for 6M 2021: recovery of the tourism sector
During the first 6 months of this year, the company earned 1.1 million euros net profit, while in the same period last year suffered a loss of 2.2 million euros. EBITDA ratio during this half year reached 1.8 million euros, compared to a loss of 0.8 million euros in the same period last year. While comparing these profitability indicators with the same period of 2019, the results achieved back then were more modest, EBITDA amounted to 1.7 million euros, and net profit reached 0.4 million euros. During the first half of 2021 the supply of holiday destinations available gradually became similar to the usual one of the pre-pandemic years.
28
July
“Novaturas” group redeems convertible bonds worth 2.5 million euros
The leading tour operator in the Baltic states “Novaturas” redeems part of the issued convertible bonds worth 2.5 million euros. The group of companies repurchases the bonds before the terms agreed without any additional restrictions.
15
July
Preliminary financial results for 6 months of 2021
In June, “Novaturas” Group operated flights from Lithuania, Latvia, and Estonia to Turkey, Greek islands, Bulgaria, and Montenegro. During June, the company served 17 thousand customers, i. e. 7 thousand more than in May. Group revenue in June amounted to EUR 10.5 million.
16
June
The investment for issued bonds emissions has reached “Novaturas” group
The leading tour operator in the Baltic States “Novaturas” announced in February about signed EUR 10 million investment agreement in company’s’ bonds with the State Investment Management Agency for a period of six years. Almost a month ago, the leader of the tourism sector received the first part of the investment – EUR 5 million for ordinary bonds emission. On the 15th of June, “Novaturas” group received the second part of the investment for convertible bonds worth EUR 5 million. The company will allocate the first part of the investment received for ordinary bonds to its strategic priorities - development of relations with partners abroad, strengthening e company's positions in the holiday destinations and improvement of the e-commerce system.
15
June
Preliminary financial results for 5 months of 2021
In May, “Novaturas” Group operated flights from Lithuania, Latvia, and Estonia to Turkey and Greek islands. During May, the Company served 9.9 thousand customers. In total, during January - May, the Company served 29 thousand customers - 7% less than last year and 71% less than in 2019. Group revenue in May amounted to EUR 6.7 million. Cumulative January - May turnover reached EUR 18,6 million and was 20% and 71% lower than the corresponding time last year and in 2019.
10
June
The smallest tick size has been applied to AB “Novaturas” shares
The shares of the largest tour operator in the Baltics AB “Novaturas” on the “Nasdaq Baltic” Stock Exchange have been applied with the smallest tick size, which amounts to EUR 0.001 cents. Until the 9th of June 2021, the applied tick size was EUR 0.05 cents when the price for the share is EUR 5 and more per 1 unit.
14
May
Preliminary financial results for 4 months of 2021
In April, “Novaturas” Group resumed flights from Lithuania, Latvia, and Estonia to the most popular summer destination – Turkey. During April, the Company served 10.2 thousand customers. In total, during January - April, the Company served 19 thousand customers - 31% less than last year and 71% less than in 2019. Group revenue in April amounted to EUR 6.4 million. Cumulative January - April turnover reached EUR 12 million and was 49% and 72% lower than the corresponding time last year and in 2019.
13
May
AB “Novaturas” opens summer 2022 early booking sales to three most popular holiday destinations
The leading tour operator in the Baltic states launches summer 2022 holiday season early booking sales in May. Primarily “Novaturas” opens the most popular three holiday destinations - Turkey, Greece, and Bulgaria - to the travelers who are already planning their holidays next year.
10
May
AB “Novaturas” resumes flights from all the Baltics to Greece from the mid of May
The leading tour operator in the Baltic States “Novaturas” from the middle of May resumes flights to Greek islands. The largest flight program is planned from Lithuania.
28
April
Novaturas Group financials for Q1 2021: restart of business
In the first quarter “Novaturas” group main focus was dedicated to the resumption of operations in all the core markets to which the Company have been intensively preparing. In fact, 2021 holiday season this year has started not in January as usual, but since February, when the first planes took off to Tenerife resorts. In February, after a year's break, the Company was the first in the market to resume flights to the most popular winter holiday destination - Egypt. Holiday destinations portfolio was supplemented by United Arab Emirates and Maldives.
15
April
Preliminary financial results for 3 months of 2021
In March, “Novaturas” Group resumed flights from Lithuania, Latvia and Estonia to Tenerife and Egypt. From Vilnius airport plains took off to United Arab Emirates and Maldives. During March, the Company served 6.4 thousand customers – 18% more than in the corresponding period last year. If compared to 2019, the number of customers served in March 2021 reached half the number of customers served in 2019. In total, during January - March, the Company served 8.9 thousand customers - 71% less than last year and 78% less than in 2019. Group revenue in March amounted to EUR 4.1 million and was 6% lower than the same time last year and 59% lower than in 2019. Cumulative January - March turnover reached EUR 5.5 million and was 76% and 81% lower than the corresponding time last year and in 2019.
02
April
AB “Novaturas” signed EUR 10 million investment agreement with the State Investment Management Agency
The leading tour operator in the Baltic States "Novaturas" on the 2nd of April 2021, has signed EUR 10 million investment agreement with the State Investment Management Agency.
29
March
Regarding publicly available information about “Novaturas” attracted financial support
In 2020, due to the coronavirus pandemic, AB “Novaturas” operated under crisis conditions. Compared to 2019, the number of passengers served by the company decreased by 86.8%, and the number of operated charter flights decreased by 85.8%. In response to the extraordinary situation, the company initiated a consistent implementation of crisis period program: actively cooperated with the government, state institutions, financial partners. Attracted financial support, loans, and drastically reduced costs allowed the company to ensure the continuity of operations and start 2021 on a optimistic note.
15
March
AB “Novaturas” resumes flights from Latvia to Egypt at the end of March
The leading tour operator in the Baltic States “Novaturas” from the 27th of March resumes flights from Latvia to Egypt. From April, 4 flights per week program will be operated from Latvia to the main Egyptian resorts.
08
March
AB “Novaturas” among the TOP 20 best investor relations companies on the Nasdaq Baltic Market
This year, the leading tour operator in the Baltic States “Novaturas” was enlisted between TOP 20 best rated investor relations companies on Nasdaq Baltic Market. This rating was achieved at the traditional market participants' awards “Nasdaq Baltic Market Awards 2021”. The Company reached the 18th place among the best investor relations companies in the Baltic market and the 6th place in the Lithuanian market.
04
March
AB “Novaturas” resumes flights from Lithuania to Turkey at the beginning of April
The leading tour operator in the Baltic States “Novaturas” from the 1st of April resumes flights from Lithuania to Turkish resorts. From Vilnius Airport, planes will depart daily to Antalya and Gazipaşa (Alanya).
02
March
AB “Novaturas” is finishing refunds for the trips that have been cancelled due to the pandemic
The leading tour operator in the Baltic states AB “Novaturas” is finishing refund process which group-wide amounts to 9.3 million euros. In the first days of March the refunds will reach the last travel
01
March
AB “Novaturas” doubles the number of weekly planned flights to Egypt
The leading tour operator in the Baltic States “Novaturas” Group is increasing the Egyptian program. From March, 4 flights per week will be operated from Lithuania and Estonia to the main Egyptian resorts.
17
February
“Novaturas” Group attracts EUR 10 million worth investment
The leading tour operator in the Baltic States “Novaturas” Group and the State Investment Management Agency has agreed on EUR 10 million investment in the Company's bonds for a period of six years. The agreement was approved by the Company's Board during the meeting, held on the 17th of February. This agreement allows tourism sector leader to implement planned strategic initiatives and ensure financial security in case any possible alterations may occur in the future due to the changing dynamics of the coronavirus.
10
February
“Novaturas” Group results for 2020: the darkest days - in the past
At the beginning of 2020, coronavirus caused crises led tourism sector to the suspension and forced to fight for survival. All implemented measures and active co-operation with the governments and responsible institutions of the Baltic States, allowed the Company to overcome these challenges.
09
February
AB “Novaturas” resumes flights from Lithuania to Egypt at the end of February
The leading tour operator in the Baltic States “Novaturas” from the 20th of February resumes flights from Lithuania to Egyptian resorts. Flights to the United Arab Emirates and the Maldives are also included to the February-March holiday destinations program.
22
January
AB “Novaturas” accelerates refunding process with the travelers for cancelled trips due to pandemic
The Company informs that all the necessary agreement formalities with “Invega” on an additional EUR 1 million 18 thousand loan have been completed and starting from today the loan money is being transferred to travelers in accordance with submitted refund applications. Refund money will be transferred firstly for the earliest canceled trips. The Company will settle with all travelers before the end of February.
19
January
AB “Novaturas” Group resumes flights to Tenerife and Egypt in February 2021
In the first quarter of 2021, the leading tour operator in the Baltic States “Novaturas” Group, resumes flights to the resorts of Tenerife and Egypt. Flights to Tenerife are planned from all Baltic countries, flights to Egypt – currently only from Estonia.
13
January
Novaturas Group has agreed on additional EUR 1 mln. 18 ths. loan to refund cancelled trips due to pandemic
The leading tour operator in the Baltic States “Novaturas” Group has agreed on additional EUR 1 million 18 thousand loan received under the Ministry of the Economy and Innovation of the Republic of Lithuania and state investment and business guarantee fund “Invega”. This loan will allow the Company to expedite refunds to the travelers whose trips have been cancelled due to the pandemic.
03
December
AB "Novaturas" group guarantee insurance for 2021 - 11 million euros
For 2021, the leading tour operator in the Baltics States “Novaturas” group has secured guarantee and insurance limit of 11 million that ensures the fulfillment of Company’s obligations to travelers.
20
November
The opportunity to postpone the date of the trip in case COVID-19 is positive
Taking into account the growing numbers of coronavirus cases in Europe, the leading tour operator in the Baltics States “Novaturas” group is the first to offer the opportunity to postpone planned trip free of charge in case COVID-19 test is confirmed positive. The travelers will have the flexibility to change the date or duration of their planned trip.
16
November
Preliminary financial results for 10 months of 2020
In October, the leading tour operator in the Baltic States Novaturas Group operated flights to Cyprus and Crete in all markets. Novaturas Group turnover in 2020 October reached EUR 1.9 million and was 91% lower than the same time last year. Cumulative January-October turnover reached EUR 32.3 million and was 80% lower than the corresponding time last year. In October, Novaturas Group served 3.3 thousand clients – 90% less than in the corresponding period last year. During January-September the Company served 47.4 thousand tourists, 82% lower than last year.
12
November
Novaturas Group strengthens its positions in local tourism segment in the Baltic markets
The leading tour operator in the Baltic States Novaturas group is strengthening its positions in local tourism segment in the Baltics and introduces 2021 holiday season.
29
October
9M 2020 financial results of Novaturas Group: facing COVID-19 reality
Since the first quarter of 2020, tourism sector has been facing and operating in a new reality of constant changes. Due to restrictions caused by the pandemic, only in July the Company was able to partially resume its operations in all Baltic countries.
07
October
Novaturas in Estonia resumes flights to Crete in October
The leading tour operator in the Baltic States “Novaturas” resumes flights from Estonia to Crete. First flight to Crete is scheduled on the 10th of October. Scheduled flights from Estonia to Cyprus will also be operated in October as planned.
15
September
Preliminary financial results for 8 months of 2020
The leading tour operator in the Baltic States Novaturas Group, has started refunding for the trips that have been cancelled due to the pandemic in July. Up to date, the Company has refunded EUR 4.3 million group wide.
24
August
The new chairman of the Board was elected
Virginijus Lepeška, an independent member, was elected as the chairman of the Board of the Company during the board meeting on Monday, August 24. The Board is elected for four years and consists of 5 members, of which 2 are independent.
21
August
Novaturas Group has agreed on EUR 1 mln. long-term loan so the refunds for cancelled trips could be fulfilled faster
The leading tour operator in the Baltic States Novaturas Group has agreed on a EUR 1 million long-term loan received under the Ministry of the Economy and Innovation of the Republic of Lithuania and state investment and business guarantee fund Invega. The Company intends to use it to refund cancelled trips due to pandemic.
07
August
Novaturas Group strengthens its position in customer service
The leading tour operator in the Baltic States Novaturas Group strengthens its relations with customers and takes over the core business of its subsidiary “Sofa Travel“. This decision enables the Compay to centralize customer service processes, make them more efficient and improve customer experience. The process itself will not affect the clients.
30
July
6M 2020 financial results of Novaturas Group: COVID-19 caused a net loss of EUR 2.2 m, ready for the new reality
Novaturas Group successfully started the beginning of 2020, but later on, with the global tourism industry faced the unprecedented impact of COVID-19. Due to the restrictions caused by the pandemic, the Company suspended its operations from mid-March to July, which had a negative impact on the financial results.
22
July
Novaturas group strengthens the management team
The largest tour operator in the Baltics strengthens its management team. Olga Belova with accumulated extensive experience in marketing is joining the company as Chief Marketing Officer.
20
July
Novaturas group offers holidays in all Baltic countries
The largest tour operator in the Baltic States after introducing new product – local tourism, from now on invites travelers to plan their holidays in all the Baltic states.
15
July
Preliminary financial results for 6 months of 2020
Due to the restrictions caused by the COVID-19 pandemic, Novaturas Group has suspended organized tours in June. At the same time last year, the Company's turnover amounted to EUR 16.6 million, the number of customers served amounted to 31.8 thousand.
30
June
Changes in the management structure
According to the proposals submitted by the shareholders, the management structure has been changed by eliminating the Supervisory Board of the Company. The Company as of today has one collegial body - the Board, to which part of the supervisory functions would be delegated. The Board consist of 5 members, of which 2 are independent. The previous members of the Board form a team of the Company's top executives.
23
June
Proposed changes in the management structure
The shareholders have submitted a proposal to change the management structure of the Company by eliminating the Supervisory Board of the Company. This proposal will be discussed in the General Meeting of Shareholders to be held on the 30th of June. The company would have only one collegial body - the board, to which part of the supervisory functions would be delegated. The Board would consist of 5 members, of which at least 1/3 would be independent. The current members of the Board would form a team of the Company's top executives.
12
June
Novaturas in Lithuania has agreed on EUR 5 mln. long-term loan
Today Novaturas Group in Lithuania has agreed on a EUR 5 million long-term loan received under the state investment and business guarantee fund Invega measure "Guarantees for portfolio loans". The Company intends to use it for the implementation of various liquidity measures and will also seek to start refunds for customers in Lithuania whose trips have been cancelled due to COVID-19 as soon as possible.
05
June
Novaturas Group announces its 3 new shareholders
Following the withdrawal of the Central European Tour Operator from the shareholders on 2nd June, the management of Novaturas Group received notifications from three new investors.
04
June
First flights to Greece and Bulgaria start already in July
Following the list of countries announced by the Ministry of Health of the Republic of Lithuania that are free from mandatory 14-day self-isolation after visiting them, we are renewing our charter flights to popular and already very well-known holiday destinations - Greece (Crete and Rhodes), Bulgaria. Flights to these countries are scheduled from the very first days of July. We hope that with the easing of restrictions, we will be able to offer our customers flights to more holiday destinations. Sightseeing trips to European countries are also planned to be renewed in the near future.
01
June
Novaturas Group has agreed with the bank to delay liabilities
Today Novaturas Group agreed with Luminor bank (AB Luminor) to delay payments of a long-term loan and extend the overdraft.
28
May
Novaturas in Latvia has agreed on EUR 1 mln. liquidity loan
Novaturas Group in other Baltic markets continues the dialogue with state institutions on potential support measures for the tourism business affected by the restrictions caused by COVID-19.
26
May
Novaturas Group introduces a new service - local tourism
Adapting to the situation caused by COVID-19 and changes in the tourism industry, Novaturas Group introduces a new service - leisure holidays and sightseeing trips in Lithuania. As neighboring countries continue to ease restrictions, the Company also expects to offer travelers holidays in other Baltic states in the nearest future.
29
April
Novaturas Group financials for Q1 2020: affected by the COVID-19 outbreak
The first quarter of 2020 was marked by extraordinary circumstances for the entire tourism sector with the global travel business being affected by the COVID-19 virus. After successfully starting the year, Novaturas Group has faced the spread of the virus from mid-February, which affected the company's financial results.
03
April
Changes in Supervisory Board and Management Board
Birutė Čepanskienė, a member of the Management Board and Chief Commercial Officer will be replaced by Ieva Galvydiene starting from 1st April. B. Čepanskienė is leaving the Board due to personal circumstances.
17
March
Preliminary financial results for 2 months of 2020 and update on COVID-19 business impact
After a successful start of the year, Novaturas Group together with the global travel industry has faced declining travel demand in March due to the spread of COVID-19. After local governments in the Baltics have decided to take isolation measures, we have suspended all our operations until April 14th in Lithuania and Latvia and until May 1st in Estonia.
11
February
Novaturas Group financials for 2019: year ended with a profitability growth
Last year the tour organizing industry in the Baltics has been defined by an intensified competition and also slightly changing customer habits due to shifting weather seasons. All these conditions have had an effect on all tour operators including Novaturas Group and are reflected in financials of 9 months of 2019. However, the tour organising industry leader in the Baltics managed to overcome the challenges and ended 2019 with a robust last quarter. Future results also look promising as early booking campaign for summer 2020 is performing smoothly as never before.
02
December
Novaturas takes over Aurinko operations in Estonia
The leading tour operator in the Baltics Novaturas Group has agreed with Aurinko to carry out its operations in Estonia starting from the beginning of next year. One of the most capacious tour operators in Estonia and a Finnair subsidiary Aurinko has announced previously leaving the Estonian market and entrusted Novaturas for its proper know-how and stable financial status. The legal agreement has been signed between Novatours OÜ, subsidiary of Novaturas Group in Estonia and Aurinko OÜ.
31
October
Novaturas 9M 2019 financial results: challenging period ends with indicators of sustainable growth
Novaturas Group’s 9M 2019 financial results were affected by fierce competition coupled with softer demand for outbound trips due to hot summer weather in the Baltics. This precipitated oversupply on the marketplace, thereby affecting the profitability of tour operators. In turn, Novaturas expects to generate robust results in the 2019/2020 winter season. Early bookings for next year’s summer season also look promising.
22
October
“Novatours” was recognised as one of the best companies in Estonia
Estonian Chamber of Commerce and Industry, promoting strong and business friendly environment in the country, yearly awards the most competitive and accomplished companies in different industries. Tour operator “Novatours” Estonia was named as the most competitive company in tourism industry.
25
September
Regarding tour operator “Thomas Cook“ collapse
The news of the collapse of British tour operator “Thomas Cook“ has brought some chaos and uncertainty among the travelers community and tourism companies. To reassure our clients, partners and investors we want to highlight that “Thomas Cook“ is not AB “Novaturas“ partner.
05
September
Let’s be responsible: Baltic Sea seals need your help
Every year an increasing number of injured birds and seals that have suffered from human activities are found along the coast of Baltic Sea. As well as more than 20 stray and exhausted seals pups. Affected animals are being treated at the Lithuanian sea museum, even though there are no specialized facilities for their treatment and rehabilitation. Tour operator “Novaturas” is starting a partnership with the Lithuanian sea museum and is launching a fundraising campaign to establish a modern Baltic sea animals rehabilitation center.
04
September
The launch of summer 2020 holiday season
The end of the summer brings out nostalgic thoughts about already experienced holidays and inspires to think about the upcoming ones. Holiday planning is exciting and challenging at the same time - how to spend less and have a none the less quality vacations? One of the most effective ways to do so – purchase next year‘s vacations during early bookings.
20
August
AB “Novaturas“ among the Lithuanian business leaders
This year Lithuanian business news portal „Verslo Žinios“ has introduced three Lithuanian business leaders ratings: “TOP 1000 Lithuanian companies“, “Lithuanian Business Leaders 500“ (LVL 500) and “Service Sector Leaders 2018“, where the biggest Lithuanian companies are ranked by certain criteria: business growth, operational efficiency, employee benefits, transparency, contribution to the development of the business community while sharing the expertise. AB “Novaturas“ is on all three leaderboards.
09
August
The launch of ticket sales to Tokyo Olympic games
If you wish to support LTeam members from the tribunes of the world’s most important sports event and at the same time visit the land of the rising sun, you should start planning your trip now. AB “Novaturas” launches ticket sales for the 2020 Tokyo Olympics on Monday (the 12th of August 2019).
31
July
Novaturas announces its half-year 2019 financial results: stable sales, profitability under pressure
During the first half of 2019, in the increasingly competitive market environment, Novaturas Group managed to attract 1.9% more customers and increase its revenue by 3.8% compared to the first half of the previous year. However, the oversupply on the market, which has been lingering since 2018, affected the profitability of the Group, as well as the entire sector’s.
30
April
Novaturas announces its Q1 2019 financial results
Novaturas Group recorded a 9.2% y/y growth in the number of clients served during the first quarter of 2019, strengthening its position as the leading tour operator in the Baltic states. In the increasingly competitive market environment, the Group managed to increase its revenue by 11.5% compared to the first quarter of the previous year.
28
February
Novaturas Group with special prize from Warsaw Stock Exchange
The Warsaw Stock Exchange awarded Novaturas Group a special prize for last year’s dual-listing on the stock exchanges in Warsaw and Vilnius. The award was presented to Novaturas CEO Audronė Keinytė during the 2018 Stock Market Review Gala on 26 February 2019.
20
February
Novaturas Group records sound financial results for 2018 despite challenging market conditions
Novaturas Group’s revenue for 2018 reached almost EUR 182 million and was 29% higher than in 2017. Last year’s EBITDA amounted to EUR 8 million, compared to EUR 10.6 million a year earlier, and the consolidated net profit stood at EUR 5.4 million vs. EUR 8.2 million in 2017. The Group’s profitability was affected by abnormal weather conditions in all Baltic countries during the summer season and additional costs incurred in Q4 2018 related to the replacement of troubled Small Planet Airlines as the Group’s aviation partner in Lithuania.
06
February
Stock exchange event of the year – the debut of “Novaturas”
This week Nasdaq has announced the winners of the “Nasdaq Baltic Awards 2019“. For the first time stakeholders were also honored for their contributions to the sustainable growth of the Baltic capital markets. The largest tour operator in the Baltics, “Novaturas”, has been awarded for its debut in the Baltic Main market in Lithuania.
07
December
The easiest way to get your dream vacation
A journey is probably the best gift for any occasion all year round. Therefore, as the most important holidays of the year are approaching, “Novaturas”, a leading tour operator in the Baltics, made sure that dream vacation gift would be easily accessible to everyone. The company started working with the largest ticket distributor in the country "Bilietai.lt". Fro
28
November
“Novaturas“ implements plan "B" - scheduled flights will be executed as planned
Based on the information published by the competent civil aviation authorities, charter flights company „Small Planet Airlines“ proved to be unable to fulfill its contractual obligations, therefore AB „Novaturas“ is forced to use the plan "B".
27
November
“Novaturas” – Authorised Ticket Reseller (ATR) for Tokyo Olympic games
This week the Lithuanian National Olympic Committee (LNOC) and tour operator “Novaturas” has signed agreement, having become an official Olympic carrier of the Lithuanian delegation and fans.
07
November
Novaturas Group: 30% revenue growth and 32% customer growth in first three quarters of 2018, profitability influenced by weather conditions
Novaturas, the largest tour operator in the Baltics, listed on the Warsaw Stock Exchange and Nasdaq in Vilnius, increased its consolidated revenue from sales in the first nine months of 2018 by 30% y/y to EUR 140.2 million. During this period, the Group served 243.6 thousand customers, up by 32% on the previous year and more than in the entire 2017 (233.5 thousand customers).
08
August
Novaturas recorded 36% EBITDA growth in the first half of 2018
Novaturas Group, traded on the Warsaw Stock Exchange and the Nasdaq in Vilnius since March this year, recorded 43% y/y growth in revenue in the first half of 2018, to EUR 80.2 million, strengthening its position as the largest tour operator in the Baltic countries. The Group’s EBITDA after this year’s first six months reached nearly EUR 5.9 million, up by almost 36% on the preceding year, while net profit came in at EUR 4.4 million, denoting 24% growth from the same period of 2017.
16
July
Novaturas recorded revenue growth by 43% y/y in H1 2018
Novaturas, the largest tour operator in the Baltics, with shares traded on the Warsaw Stock Exchange and Nasdaq in Vilnius since March this year, recorded 43% y/y revenue growth in the first half of 2018 to EUR 80.2 million. From the beginning of the year, Novaturas Group handled a total of 134.5 thousand clients, denoting 42% growth in comparison with the same period last year.
27
June
Ventura Awards Gala: two awards for Novaturas
Enterprise Investors - the largest shareholder of Novaturas, the leading tour operator in the Baltics, has awarded the company as the Most Dynamic Company in Enterprise Investors’ portfolio, while Linas Aldonis, Novaturas’ CEO and chairman of the management board, has been recognized as The Manager of the Year.
09
May
Novaturas dynamically increases sales and improves profitability
Novaturas, the largest tour operator in the Baltic states, listed on the Warsaw Stock Exchange and Nasdaq Vilnius since March this year, recorded 49% y/y growth in sales in the first quarter of 2018. The Group’s EBITDA reached EUR 1.3 million and net profit was over EUR 0.9 million, denoting in both instances growth by several times from the same period last year.
20
March
Novaturas to debut on the Warsaw Stock Exchange and Nasdaq Vilnius on 21 March 2018
Novaturas, the largest tour operator in the Baltic countries, will be dual-listed on the Warsaw Stock Exchange and Nasdaq Vilnius, starting from 21 March 2018.
08
March
The share price in the Novaturas initial public offering set at EUR 10.5
The Company’s capitalization according to the final share price in the IPO will reach EUR 82.0 million (approx. PLN 344.5 million).
07
March
Novaturas increases its summer programme
Novaturas, the largest tour operator in the Baltic countries, has decided to further increase its 2018 summer programme, i.e. by 30% compared to last year’s summer programme.
26
February
Novaturas publishes prospectus and begins initial public offering
Novaturas, the largest tour operator in the Baltic countries, has published a prospectus prepared in connection with its initial public offering and intention to apply for the admission and introduction of its shares to trade on the Warsaw Stock Exchange and on Nasdaq Vilnius.
23
February
Novaturas prospectus approved
The Bank of Lithuania on 23 February 2018 approved the prospectus of Novaturas, the largest tour operator in the Baltic countries, the shareholders of which intend to conduct a public offering and list its shares on the Warsaw Stock Exchange and Nasdaq Vilnius. The approved document has been notified to the Polish Financial Supervision Authority and to the Estonian Financial Supervision Authority. The Company plans to publish its prospectus on 26 February 2018.
14
February
Novaturas confirms intention to conduct public offering and introduce shares to Warsaw Stock Exchange and Nasdaq Vilnius
Novaturas Group posts strong financial results for 2017 and early booking sales for 2018
12
January
Novaturas reports record-high early bookings for the summer season
Increased popularity of travel creates an impression, that many Baltic States citizens celebrated New Year’s Eve resting after a travel, traveling or planning a new trip. Novaturas, the largest tour operator in the Baltics which plans to debut on stock exchanges in Warsaw and Vilnius in 2018, has noticed record-breaking customer activity compared to the previous year's results. Early-bookings for the upcoming summer season have almost
doubled.