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.

AB Novaturas (hereinafter referred to as the ‘Company’) informs about the ruling of the Supreme Court of Lithuania of 28 November 2024 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’).

On November 11th 2024 at 9:00 AM CEO of AB “Novaturas” Mr. Kristijonas Kaikaris and CFO Mr. Darius Undzėnas presented the Company’s consolidated financial results for the third quarter of 2024 to investors. 

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.

On November 11th 2024 at 9:00 AM CEO of AB “Novaturas” Mr. Kristijonas Kaikaris and CFO Mr. Darius Undzėnas will present the Company’s consolidated financial results for the third quarter of 2024 to investors. 

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.
 
“We are confident that Darius’s diverse experience in finance and his management skills gained in international companies will contribute to the goal of strengthening the position of Novaturas in the tourism market. At the same time, we set a strategic goal for the new CFO – to strengthen the company’s financial position, which is important both for ensuring the long-term trust of our customers and partners and for creating long-term value for the company’s shareholders,” said Kristijonas Kaikaris, Chief Executive Officer of Novaturas Group.

The new CFO of the company has more than 15 years of experience in various financial management positions in the transport and logistics industry, wholesale, retail and e-commerce. For the last 3.5 years, Mr Undzėnas has been the CFO of Transmėja, an international logistics group with over 1,200 employees. Prior to that, he spent almost three years as Head of Financial Control at Willgrow (then ME Investicija), which controls Europe’s largest asset-based transportation company Girteka Group, and was responsible for a large team in Lithuania, Poland and Germany. Prior to that, Mr Undzėnas was CFO of Berner Lietuva for 6.5 years and worked in finance departments of other companies.

“I am grateful to the management of Novaturas for the trust they have placed in me and I am delighted to join the team of the largest tour operator in the Baltic States. I believe that my professional skills and orientation towards innovation and technological solutions aimed at improving efficiency and operational processes will be valuable for Novaturas Group’s growth, financial stability and performance improvement. The tourism market is highly dynamic and the current competitive environment requires decisions that are both operational and based on long-term value, so I am ready to contribute to the sustainable strengthening of the company and to ensuring profitable operations,” said Mr Undzėnas.

The new CFO of Novaturas Group emphasises that the main priorities after joining the company will be to ensure operational efficiency, to decide on alternatives for raising additional financial capital and to optimise the budget, as well as to strengthen the company’s finance team and develop its competences.

In September the company announced summer holiday programme for 2025. The longest-established tour operator on the market, counting the 26th season, offers the region’s widest range of holiday packages and sightseeing trips.

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.
 
Auksė Kriaučiūnaitė
Interim CFO
+370 630 37367

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.

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.

On August 23rd 9:00 AM CEO of AB “Novaturas” Mr. Kristijonas Kaikaris and Interim CFO Auksė Kriaučiūnaitė have presented Company’s consolidated financial results for its half-year results of 2024 to investors.

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.

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.

On August 23^rd 2024 at 9:00 AM CEO of AB “Novaturas” Mr. Kristijonas Kaikaris and interim CFO Ms. Aukse Kriauciunaite will present Company’s consolidated financial results for half year of 2024 for the investors.

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.

We publish revised version of investors calendar. The Company will announce interim consolidated financial statements for 6 months on August 23, 2024, taking into consideration recent change in finance team of the Company.

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. 

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. 

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.

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.

In 2024 June 7 a repeated ordinary general meeting of shareholders of the joint-stock company "Novaturas" (hereinafter - the Company) took place (hereinafter - the Meeting). The meeting was attended by shareholders controlling 3,759,341 share units, which accounted for 48.5% of the total number of voting shares of the Company (the Company has issued a total of 7,807,000 shares, out of which the Company has purchased 55,997 of its own shares, which do not entitle the Company to vote at the Meeting). One voting share entitles its holder to one vote. The repeated Meeting does not require a quorum, so the Meeting can make decisions and is considered to have taken place.

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).