Preliminary June results of Novaturas: growing early bookings for winter season

Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 21,6 mln. in June, compared to EUR 22 mln. during the same period last year. The number of customers served was 28,8 thsnd., compared to 30,5 thsnd. in June last year. 

In total, between January and June 2024, the company recorded revenues* of EUR 86,8 mln. and 112 thsnd. customers, compared to revenues of EUR 102,5 mln. and 124 thsnd. customers in the corresponding period in 2023. 
Continued diversification into summer destinations with higher margins than Turkey has resulted in the growing demand observed in Spanish resorts and Greek islands. In addition, with the launch of the 2024–2025 winter holiday programme in early June, Novaturas is seeing a more active interest in these early bookings than last year.

"In the first month after the launch of the winter destinations, our customers group-wide have purchased more trips than last year. Given that we started winter sales in 2023 five weeks earlier than this year, this translates into higher demand and an increasing trend for travellers to plan their holidays and trips in advance. Even with a significantly shorter sale period, winter bookings in Lithuania and Latvia are almost 30% ahead of last year’s figures. Meanwhile, we are observing a slowdown in Estonia, and one of the reasons is related with the weaker macroeconomic sentiment in this market” says Kristijonas Kaikaris, CEO of Novaturas.

The growth in demand for winter travel in June was driven by ski trips, which were also influenced by group bookings, which Novaturas organises for both individuals and sells to commercial customers and partners. In addition, interest in holidays to long-haul exotic destinations also grew (+16%). This year, 8 out of 11 long-haul destinations have higher sales than last year, with Vietnam, Thailand, Bali, Tanzania and Mexico showing the highest growth. 
In recreational destinations, Egypt remains stable with 53% of winter early-bookers choosing this destination for their holidays, which is an increase of around 10% compared to last year. Customers will also find more opportunities and more flexible travel options in the United Arab Emirates, where Novaturas has increased its offering for the next winter season and is running additional sales promotions.

As part of the launch of the full next winter programme in June, Novaturas also organised events to introduce a new destination, the Spanish island of Gran Canaria, to agency representatives in Lithuania, Latvia and Estonia. Events were organised in cooperation with Gran Canaria Tourist Board. For the convenience of travellers, Novaturas will organise flights from Vilnius to Gran Canaria with AirBaltic on Saturday mornings from autumn until spring. 
It should be reminded that next winter Novaturas offers Lithuanian travellers a total of 21 different destinations in 18 countries, Latvian travellers are offered 20 destinations in 17 countries, and Estonian travellers can choose from 17 destinations in 14 countries. The company offers its customers a wide range of exotic trips, ski resorts in France, Austria and Italy, a variety of sightseeing tour options, as well as the most popular resorts in Egypt, Madeira and Tenerife. 

After launching the new eSIM mobile internet service to customers in Lithuania in May, Novaturas already offered it to travellers in Latvia and Estonia in June. The company is the first tour operator in the Baltic States to offer this service. It is available in all destinations offered by Novaturas and is most relevant when travelling outside the EU. 

Also in June, Novaturas announced that it is terminating its contract with Beta Travel, taking over its customers’ bookings and thus ensuring that all their planned trips take place. In making the announcement, the company made clear its position that it always strives for the trust and well-being of its customers, while clarifying to investors that its cooperation with Beta Travel represented only a very small share of the total sales of Novaturas. The company will not incur any significant material loss or loss affecting its financial results as a result of the bookings taken over. 

*ADJUSTMENT: the Company is adjusting its May 2024 revenue results, which were announced in June, to reflect that Novaturas generated revenues of EUR 14,1 mln. in May (in June it was announced that Novaturas generated revenues of EUR 17,3 mln. in May).

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