Novaturas Reports Resilient September Results and Strong Winter Bookings

Novaturas Group Achieves Solid September Performance

Novaturas Group, recognized as a leader in the Baltic tourism market, reported a revenue of EUR 22.6 million in September. Although this is a decrease from EUR 24.1 million in the same month last year, the company remains optimistic about its future. The number of customers served dropped to 27,000, down from 29,000 in September 2023.

Performance From January to September

From January to September 2024, Novaturas recorded revenues of EUR 152 million and served 192,000 customers. This reflects a decline in comparison to EUR 164 million in revenue and 210,000 customers during the same period in 2023. Despite these figures, the company is keen to highlight key factors contributing to its ongoing viability in a competitive tourism landscape.

Looking Ahead: Demand and Projections

Kristijonas Kaikaris, CEO of Novaturas, commented on the company's performance, noting a downturn in demand over the summer due to an oversupply of travel options. However, with an encouraging load factor of nearly 90% as October begins, signs of increased confidence from customers have emerged. The winter season is expected to be more favorable, showing a projected growth of almost 20% in traveler numbers during this period compared to previous years.

Diverse Travel Destinations and Customer Preferences

The company has adopted a flexible approach regarding its travel program, aligning it with changing customer preferences. While the Turkish destination market faced a decline this summer, locations like Montenegro and the Spanish resort areas of Costa Brava and Costa Dorada saw a surge in bookings. Novaturas is also noticing an upswing in interests for the upcoming winter season, with destinations such as Egypt, the UAE (Dubai), and the Canary Islands becoming increasingly popular among travelers.

Winter Bookings and Safety Measures

Significant early winter bookings have been recorded in Lithuania, with growth rates of 23%, and Latvia with increases of 30%. Estonian bookings, however, experienced a decrease, which the company attributes to the larger economic environment. The Egyptian resorts, especially Sharm el-Sheikh and Hurghada, continue to be top winter vacation spots, with an impressive group-wide demand increase of 37% for the upcoming months.

Prioritizing Customer Safety

Novaturas prioritizes the safety and well-being of its travelers. The company closely monitors safety feedback and regional updates concerning military developments in the Middle East, ensuring that adequate measures are in place to protect its guests. Novaturas is committed to responding effectively to any changes in travel advisories.

Introducing the New CFO

In recent developments, Darius Undz?nas has stepped into the role of CFO. Darius brings extensive experience in financial management and aims to enhance operational efficiency within the company. His responsibilities will also include seeking additional financial capital and optimizing the organization's budget while reinforcing the finance team’s capabilities.

About Novaturas Group

Novaturas Group is a renowned local tour operator in the Baltic States, specializing in charter flights and vacation packages to over 30 global destinations. The organization achieved revenues of EUR 208.3 million and catered to 259,000 passengers in 2023 alone, showcasing its significant market position. As customer preferences evolve, Novaturas continues to adapt, ensuring it can provide dynamic and appealing travel options for its clientele.

Darius Undz?nas
CFO
+370 678 05749

Frequently Asked Questions

What is the latest revenue reported by Novaturas Group?

Novaturas Group reported a revenue of EUR 22.6 million for September.

How many customers did Novaturas serve in September?

The company served 27,000 customers in September.

What are some popular travel destinations for Novaturas this winter?

Popular destinations include Egypt, Dubai, and the Canary Islands.

What is the expected growth for winter travel compared to last year?

A growth of nearly 20% in travel numbers is anticipated compared to last year.

Who is the new CFO of Novaturas Group?

Darius Undz?nas is the new CFO, focusing on financial efficiency and team development.

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