Preliminary April results of Novaturas: focus on workation and trips for groups, start of the summer season
May 15 2024 - 1:50AM
Preliminary April results of Novaturas: focus on workation and
trips for groups, start of the summer season
Novaturas Group, the leader in the Baltic tourism market,
recorded revenues of EUR 15.1 mln. in April, compared to EUR 19
mln. in the corresponding period last year.
The number of customers served was around 21 thsnd., compared to
around 26 thsnd. in April last year. The lower passenger number
this year is primarily due to the optimised travel offering to
Turkey and Egypt, where profit margins are usually lowest due to
intense competition. However, with the widest range of destinations
in the region, Novaturas continues to pursue its diversification
strategy and focuses on other more profitable travel destinations,
which record growing sales. These include the increasing flows to
Spain, Portugal, Tunisia, Greece, and Cyprus that has been
introduced by the company this year.
In April and May, Novaturas, as usual, focuses on active
preparation for the summer season and the launch of winter sales
early bookings. The company has launched the 2024–2025 group-wide
sales to the main winter holiday destinations of Egypt, Tenerife
and Madeira. Lithuanian travellers can now plan their trips for all
three destinations, while travellers from Latvia and Estonia are
offered to travel to Egypt and Tenerife. Early bookings have also
been launched for winter sightseeing trips from Lithuania by plane
to Madeira and the Nile cruises in Egypt, which are a favourite
with travellers. In June, Novaturas will present to travellers the
full winter holiday programme for 2024–2025, as well as new
destinations.
To improve the customer experience, the company is offering a
wide range of flights, hotels, discounts and additional benefits
during the early booking period. One of the benefits offered by
Novaturas and appreciated by its customers is the possibility to
make changes to the trip free of charge. It allows travellers to
conveniently adjust the date, duration, hotel, room type,
destination and/or season of their trip. Early bookers are also
offered a name change option and other flexible discounts in case
of changes in travel plans.
Strengthening its position in large corporate travel
organisationIn April, Novaturas implemented a number of
incentive trips for large telecommunications, media and other
companies. The company is growing strongly in the organisation of
large group travel and the increasingly popular workation trips.
More than 15 trips of this type have already been implemented in
Lithuania, Latvia and Estonia this spring, with Novaturas
organising the flights and accommodation for a total of about 1500
travellers.
Additional workation and incentive trips for both large
and medium-sized companies have been envisaged for the summer
season. Novaturas also organises custom trips of this type. There
is a trend that a significant number of companies organising
workation return to Novaturas every year for these services.
As a reminder, the company published its audited
performance report for 2023 and adjusted financial results at the
end of April. According to them, Novaturas Group generated revenues
of EUR 208.3 mln. in the Baltic States last year, which is an
increase of 6%, compared to 2022. The EBITDA of the company reached
EUR 5.5 mln. last year. The loss of EUR 0.7 mln. recorded the year
before last was replaced by an annual profit of EUR 3.6 mln. last
year. Novaturas served a total of 259 thsnd. customers across the
Baltic States, which is a slight (3%) decrease, compared to
2022.
According to Kristijonas Kaikaris, CEO of Novaturas Group, the
broadest offering of travel destinations in the region of the
company and its prompt and flexible management in response to the
dynamic market situation and customer needs were decisive factors
for profitability. Novaturas will strive to further improve the
traveller experience, offer new services, as well as more
user-friendly tools for travel agencies and other strategic
partners. The priorities of the company include strengthening of
e-commerce tools and direct sales.
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.
CFO
Vaidrius Verikas+370 646 43758