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.
Total revenues recorded in the period from January to November account for 201.6 mln., which is 8.4% more than in the same period in 2022. The number of customers served was 251 thsnd., compared to around 258 thsnd. in the same period last year.
Following the optimization of the Egypt program as a result of the events in Israel, the company maintained a relatively stable load factor in November and managed the risks of demand volatility.
As already mentioned, due to the changes in the Egypt and Jordan program the number of seats on group-wide flights in the fourth quarter has been reduced up to the end of the year, but this represents only around 3% of capacity of the total annual program of Novaturas.
In addition, the company took advantage of the usual sale weeks in late November and was able to significantly boost sales for the 2024 summer season. The growth in early bookings is also influenced by the fact that Novaturas was the first in the Baltic tourism market to start sales for the upcoming summer season, and also earlier than usual. Taking into account some uncertainties regarding the geopolitical situation and customers’ holiday planning behavior, the company positively evaluates the steady growth trend.
A solid three-quarter result: EBITDA reached EUR 7.9 mln.
At the end of November, Novaturas presented its successful QIII results. During this quarter, EBITDA increased by EUR 2.3 mln. and reached EUR 7.9 mln. for the period from January to September (three quarters of 2023).
This result is the third best compared not only to the three-quarter EBITDA, but also to the annual EBITDA for the previous periods, which were the most successful in the history of the company.
The three-quarter net profit of Novaturas reached EUR 6.4 mln., compared to around EUR 0.3 mln. in the same period last year. Meanwhile, the company’s revenue grew by 7.4%, compared to the period of January–September 2022, reaching EUR 166.8 mln.
About the company
Novaturas Group is the largest and the only charter flights‘ 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.