Updated Timeline for Novaturas Annual Financial Report Release
Shift in Novaturas Financial Report Timeline
Novaturas has recently communicated an important update regarding the publication schedule for its audited financial statements. Due to certain unforeseen circumstances, the release date for the 2024 report has been moved to June 12, 2025. This delay is attributed to the complexities involved in the audit processes and the internal preparation of financial reports, which have taken longer than anticipated.
Factors Influencing the Rescheduling
The lengthier timeline for the audit is primarily related to the necessary reconciliations of balances with suppliers from overseas, along with some required adjustments to the data. During the audit for 2023, Novaturas management started a reconciliation exercise concerning supplier balances from previous periods up to 2022. The extensive nature of this task, coupled with awaiting revised feedback from certain suppliers, has impacted the audit timeline.
Assurances on 2024 Financials
It’s critical to highlight that these adjustments from prior periods will not affect the financial results for 2024. The reconciliation processes associated with suppliers for the current year are progressing well, indicating Novaturas is on track for a compliant and accurate financial timeline moving forward.
Commitment to Quality and Transparency
Novaturas is committed to providing high-quality and precise financial statements in adherence to all regulatory requirements. The management team aims to eliminate qualification concerns that were noted in the previous period and expects full clarity in the forthcoming financial report.
About Novaturas Group
Incorporated within the vibrant landscape of the Baltic States, Novaturas Group stands as a leading tour operator boasting a diverse array of travel destinations. With over 25 years of industry experience, the company excels in offering various travel experiences, including summer and winter holidays, sightseeing tours, exotic getaways, skiing adventures, workations, and group excursions globally. Based on preliminary calculations, Novaturas Group reported revenues of EUR 201 million and catered to 239,000 travelers across Lithuania, Latvia, and Estonia in 2024.
Contact Information
For further inquiries, please reach out to:
Darius Undz?nas
CFO
Phone: +370 678 05749
Frequently Asked Questions
What is the new publication date for the Novaturas financial report?
The Novaturas audited financial report will now be released on June 12, 2025.
Why was the publication date rescheduled?
The delay is due to extended audit processes and the need for reconciliations with overseas suppliers.
Will the changes affect the 2024 financial results?
No, adjustments related to prior periods will not impact the financial results for 2024.
How long has Novaturas been in operation?
Novaturas has been operating for 25 years, providing various travel services.
What were the reported revenues for Novaturas in 2024?
Novaturas reported revenues of EUR 201 million and served 239,000 passengers in 2024.
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