Novaturas Group, the leader in the Baltic tourism market, grew both revenues and the number of travellers in November. Last month, the company generated revenues of EUR 11.5 mln., which is an increase of 16%, compared to EUR 9,9 mln. in November 2023. The company served 11.7 thsnd. customers (+7%), compared to 10.9 thsnd. in the same period last year.
In total, between January and November 2024, the company recorded revenues of EUR 190 mln. and 232 thsnd. customers. In the corresponding period in 2023, revenues amounted to EUR 201.6 mln. and the number of customers to 251 thsnd.
“November is the second month in a row in which we have recorded an increase in revenues compared to last year, and the number of customers served has also increased. This is due to various reasons: together with our partners, we organised the largest workation in the history of Lithuanian tourism for Tesonet accelerator companies, and the number of travellers to distant destinations increased by as many as 32%. November revenues were also positively impacted by a decrease in the share of last-minute trips in sales and a very high load factor, indicating the efficiency of operations,” says Kristijonas Kaikaris, CEO of Novaturas Group.
According to him, after a more difficult summer, when the market was over-supplied due to strong competition, Novaturas achieved more successful and financially sustainable results in autumn. The company believes that the growth in revenues, which has been recorded for a few recent months, and more favourable forecasts for December (compared to 2023), as well as the profitable months of September and October make it possible to expect that the full-year results of Novaturas will be better than the forecasts made at the time of the presentation of the three-quarter results. At that time, the group forecast annual EBITDA of EUR -4.1 mln. and a net loss of EUR -5.1 mln., while it now forecasts EBITDA of EUR -2 mln. and a net loss of EUR -3.4 mln.
High load factor
Group-wide, Novaturas ensured the load factor of 98.9% on its flights in November. Meanwhile, the load factor reached 99.6% on long-haul flights. According to the company, the beginning of December is also characterised by a higher load factor, compared to the last month of 2023.
In November, the largest part of flights were to Egypt, the Canary Islands and Turkey (where the aforementioned workation took place). Concerning the long-haul destinations in November, Novaturas organised flights to a greater number of travellers, compared to the same period last year, to Vietnam (209% more customers), Bali (+60%), Zanzibar (+55%) and Bangkok (+12.5%). The increase in travellers to distant destinations was driven by successful early bookings. In addition, the share of last-minute offers in the company’s sales declined. This November it was twice as low as last year, which also had a positive impact on the November financial results.
Largest workation trip
In November, the Tesonet Accelerator companies (Nord Security, Oxylabs, Surfshark, Cyber Care and Mediatech), together with the OnWorkation team and Novaturas, again implemented the largest group workation in the history of Lithuanian tourism, which took place in Turkey. This year, more than 2.5 thsnd. employees were flown on Novaturas charter flights and accommodated. It was also the most massive organised group trip in the history of Novaturas.
Following the trip organised for the Tesonet Accelerator companies last year, Novaturas and its partners have improved some of the processes, further tailoring them to the customer’s expectations to ensure the smoothest possible experience. “When organising workation trips of this scale, which require as many as 12 planes and 48 buses, it is important not only to ensure a smooth travel process, but also to create a comfortable experience for each participant. This can only be achieved by cooperating closely with the customer and long-standing partners. During the planning process, we were constantly sharing insights, addressing challenges promptly and working as one team,” comments Mr Kaikaris, CEO of Novaturas.
According to Mr Kaikaris, workation as a motivational tool is becoming increasingly popular every year, and the need for companies to find long-term partners is growing: “Having permanent travel organisation partners means that you can expect a deeper understanding of needs and a higher quality of meeting these needs. This is the main reason why not only holiday-seekers but also companies tend to return to the same partners when a need for a group trip organisation arises.”
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. Based on audited data, in 2023 Novaturas Group recorded revenues of EUR 208,3 million and served 259 000 passengers in Lithuania, Latvia and Estonia.