On February 28th, 2025 9:00 AM CEO of Novaturas group Mr. Kristijonas Kaikaris and CFO Mr. Darius Undzėnas for investors will present Company’s consolidated financial results for four quarters of 2024. We kindly ask to register for the webinar using the link below:

The top management of the tour operator AB Novaturas (hereinafter referred to as Novaturas) has passed a decision to conduct an analysis of strategic alternatives. For this purpose, a contract was signed on 24 January with the financial advisory firm Superia.

Tour operator Novaturas Group announces an achieved financing agreement with UAB SME Bank. In the near future the company will enter into a 2-year credit line agreement with UAB SME Bank which will provide a credit facility of up to EUR 2.5 mln.

In December, Novaturas Group generated revenues of EUR 10.3 mln., which is an increase of 26%, compared to the last month of 2023, when they reached EUR 8.2 mln. The company served 7.5 thsnd. customers, compared to 8 thsnd. customers in the same period the year before last. By the end of the year, Novaturas managed to maintain a high load factor. In addition, in December, the company recorded a growing interest in exotic travel and an overall decrease in the share of last-minute sales, which are usually associated with lower margins. 

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