Skip to main content

Novaturas will assess strategic alternatives

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.

“As part of the strategy review of the company and taking into account the dynamic situation and competitive environment in the tourism sector, we have decided to assess the strategic alternatives of the company. This analysis is an important step towards strengthening our performance and finding the most appropriate solutions to create value for our shareholders, employees, customers, and partners,” says Kristijonas Kaikaris, CEO of Novaturas Group.

The analysis of strategic alternatives will include an assessment of various possible scenarios, including but not limited to raising additional capital or attracting a strategic investor, divestment or other transactions and strategic decisions, various combinations of these, or a decision not to change the current strategy. The company anticipates that this review of alternatives will provide it with an opportunity to assess new growth paths and market potential, which could help strengthen Novaturas’ positions in the region.

There is no date set for the completion of the analysis of alternatives and Novaturas does not intend to publish any interim announcements on the progress of the review unless they relate to material decisions or events.

As announced at the beginning of January, preliminary data show that in 2024 the company served 232 thsnd. customers and generated revenues of EUR 200.1 mln.

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.    

Darius Undzėnas
CFO
+370 678 05749

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.