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Preliminary January results of Novaturas: efficiency improvement, active participation in tourism fairs

Written by Customer Service on . Posted in Public Companies.

Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 10.7 mln. in January – the same as in the corresponding period in 2023. Optimised winter travel offering has enabled the company to achieve significant efficiency in January, with a group-wide load factor of 98% for leisure destinations. The number of customers served was approx. 9.7 thsnd., compared to around 10.3 thsnd. in January last year. 

The decision to optimise the Egypt destination offering was taken in view of the market dynamics and in response to passenger behaviour, while managing the risks of demand volatility, which are also linked to the events in Israel.  

“The ability to make quick decisions on the planning and tailoring of travel programmes based on the current needs of customers, rather than on a historical perspective, becomes a priority in a dynamic environment. By offering the widest range of destinations in the region, we have the strength to diversify our offer and focus on where we see the greatest potential and profitability. We see the strengthening of position and growth in the company as timely and resolute decisions not only to increase the supply but to maintain efficiency in a targeted way,” says Kristijonas Kaikaris, CEO of Novaturas Group. 

Traditional tourism fairs in Lithuania, Latvia and Estonia from the end of January to mid-February boosted the company’s sales for the rest of the winter as well as the volumes of early bookings for the summer season. For a number of years already, Novaturas has been presenting special travel offers to its customers through a virtual holiday fair on website, which is currently ongoing in all markets of the company. Compared to the regular sales period before the promotions started in January, sales during the fair period have almost tripled. 

Focus on customer experience and investor relations 
In January, the company announced that it would cooperate with Turkish Airlines for the Turkey destination in the summer season 2024.  

“By diversifying our operations and considering the balance of our range of destinations, we aim to improve the customer experience in our most popular destinations as well. For the convenience of our customers, Antalya and Alanya will also be served by Turkish Airlines in the coming season.  In addition, Novaturas customers can now book flights to Antalya not only from Vilnius but also from Kaunas. Taking into account the needs of our customers, we will offer a wide variety of flight times, which will allow everyone to choose the most convenient travel times and make the most of their holiday days,” says Mr Kaikaris. 

In January, the CEO of the company met with the Estonian investor community at Investor Toomase, the largest investor conference in the Baltic States. More than 1000 visitors attended the event and watched the conference remotely. Kristijonas Kaikaris presented the potential and forecasts of the tourism market, as well as shared Novaturas results and strategic directions with the investor audience.  

At the end of February, the company will announce more detailed annual financial results and an interim consolidated financial report.   

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. In 2023, Novaturas Group recorded revenues of EUR 208 million and served 259 000 passengers in Lithuania, Latvia and Estonia.    

Vygantas Reifonas   
CFO of AB Novaturas   
+370 687 21603  

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