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News and Press Releases
13
January
Novaturas Group has agreed on additional EUR 1 mln. 18 ths. loan to refund cancelled trips due to pandemic
The leading tour operator in the Baltic States “Novaturas” Group has agreed on additional EUR 1 million 18 thousand loan received under the Ministry of the Economy and Innovation of the Republic of Lithuania and state investment and business guarantee fund “Invega”. This loan will allow the Company to expedite refunds to the travelers whose trips have been cancelled due to the pandemic.
03
December
AB "Novaturas" group guarantee insurance for 2021 - 11 million euros
For 2021, the leading tour operator in the Baltics States “Novaturas” group has secured guarantee and insurance limit of 11 million that ensures the fulfillment of Company’s obligations to travelers.
20
November
The opportunity to postpone the date of the trip in case COVID-19 is positive
Taking into account the growing numbers of coronavirus cases in Europe, the leading tour operator in the Baltics States “Novaturas” group is the first to offer the opportunity to postpone planned trip free of charge in case COVID-19 test is confirmed positive. The travelers will have the flexibility to change the date or duration of their planned trip.
16
November
Preliminary financial results for 10 months of 2020
In October, the leading tour operator in the Baltic States Novaturas Group operated flights to Cyprus and Crete in all markets. Novaturas Group turnover in 2020 October reached EUR 1.9 million and was 91% lower than the same time last year. Cumulative January-October turnover reached EUR 32.3 million and was 80% lower than the corresponding time last year. In October, Novaturas Group served 3.3 thousand clients – 90% less than in the corresponding period last year. During January-September the Company served 47.4 thousand tourists, 82% lower than last year.
12
November
Novaturas Group strengthens its positions in local tourism segment in the Baltic markets
The leading tour operator in the Baltic States Novaturas group is strengthening its positions in local tourism segment in the Baltics and introduces 2021 holiday season.
29
October
9M 2020 financial results of Novaturas Group: facing COVID-19 reality
Since the first quarter of 2020, tourism sector has been facing and operating in a new reality of constant changes. Due to restrictions caused by the pandemic, only in July the Company was able to partially resume its operations in all Baltic countries.
07
October
Novaturas in Estonia resumes flights to Crete in October
The leading tour operator in the Baltic States “Novaturas” resumes flights from Estonia to Crete. First flight to Crete is scheduled on the 10th of October. Scheduled flights from Estonia to Cyprus will also be operated in October as planned.
15
September
Preliminary financial results for 8 months of 2020
The leading tour operator in the Baltic States Novaturas Group, has started refunding for the trips that have been cancelled due to the pandemic in July. Up to date, the Company has refunded EUR 4.3 million group wide.
24
August
The new chairman of the Board was elected
Virginijus Lepeška, an independent member, was elected as the chairman of the Board of the Company during the board meeting on Monday, August 24. The Board is elected for four years and consists of 5 members, of which 2 are independent.
21
August
Novaturas Group has agreed on EUR 1 mln. long-term loan so the refunds for cancelled trips could be fulfilled faster
The leading tour operator in the Baltic States Novaturas Group has agreed on a EUR 1 million long-term loan received under the Ministry of the Economy and Innovation of the Republic of Lithuania and state investment and business guarantee fund Invega. The Company intends to use it to refund cancelled trips due to pandemic.
07
August
Novaturas Group strengthens its position in customer service
The leading tour operator in the Baltic States Novaturas Group strengthens its relations with customers and takes over the core business of its subsidiary “Sofa Travel“. This decision enables the Compay to centralize customer service processes, make them more efficient and improve customer experience. The process itself will not affect the clients.
30
July
6M 2020 financial results of Novaturas Group: COVID-19 caused a net loss of EUR 2.2 m, ready for the new reality
Novaturas Group successfully started the beginning of 2020, but later on, with the global tourism industry faced the unprecedented impact of COVID-19. Due to the restrictions caused by the pandemic, the Company suspended its operations from mid-March to July, which had a negative impact on the financial results.
22
July
Novaturas group strengthens the management team
The largest tour operator in the Baltics strengthens its management team. Olga Belova with accumulated extensive experience in marketing is joining the company as Chief Marketing Officer.
20
July
Novaturas group offers holidays in all Baltic countries
The largest tour operator in the Baltic States after introducing new product – local tourism, from now on invites travelers to plan their holidays in all the Baltic states.
15
July
Preliminary financial results for 6 months of 2020
Due to the restrictions caused by the COVID-19 pandemic, Novaturas Group has suspended organized tours in June. At the same time last year, the Company's turnover amounted to EUR 16.6 million, the number of customers served amounted to 31.8 thousand.
30
June
Changes in the management structure
According to the proposals submitted by the shareholders, the management structure has been changed by eliminating the Supervisory Board of the Company. The Company as of today has one collegial body - the Board, to which part of the supervisory functions would be delegated. The Board consist of 5 members, of which 2 are independent. The previous members of the Board form a team of the Company's top executives.
23
June
Proposed changes in the management structure
The shareholders have submitted a proposal to change the management structure of the Company by eliminating the Supervisory Board of the Company. This proposal will be discussed in the General Meeting of Shareholders to be held on the 30th of June. The company would have only one collegial body - the board, to which part of the supervisory functions would be delegated. The Board would consist of 5 members, of which at least 1/3 would be independent. The current members of the Board would form a team of the Company's top executives.
12
June
Novaturas in Lithuania has agreed on EUR 5 mln. long-term loan
Today Novaturas Group in Lithuania has agreed on a EUR 5 million long-term loan received under the state investment and business guarantee fund Invega measure "Guarantees for portfolio loans". The Company intends to use it for the implementation of various liquidity measures and will also seek to start refunds for customers in Lithuania whose trips have been cancelled due to COVID-19 as soon as possible.
05
June
Novaturas Group announces its 3 new shareholders
Following the withdrawal of the Central European Tour Operator from the shareholders on 2nd June, the management of Novaturas Group received notifications from three new investors.
04
June
First flights to Greece and Bulgaria start already in July
Following the list of countries announced by the Ministry of Health of the Republic of Lithuania that are free from mandatory 14-day self-isolation after visiting them, we are renewing our charter flights to popular and already very well-known holiday destinations - Greece (Crete and Rhodes), Bulgaria. Flights to these countries are scheduled from the very first days of July. We hope that with the easing of restrictions, we will be able to offer our customers flights to more holiday destinations. Sightseeing trips to European countries are also planned to be renewed in the near future.
01
June
Novaturas Group has agreed with the bank to delay liabilities
Today Novaturas Group agreed with Luminor bank (AB Luminor) to delay payments of a long-term loan and extend the overdraft.
28
May
Novaturas in Latvia has agreed on EUR 1 mln. liquidity loan
Novaturas Group in other Baltic markets continues the dialogue with state institutions on potential support measures for the tourism business affected by the restrictions caused by COVID-19.
26
May
Novaturas Group introduces a new service - local tourism
Adapting to the situation caused by COVID-19 and changes in the tourism industry, Novaturas Group introduces a new service - leisure holidays and sightseeing trips in Lithuania. As neighboring countries continue to ease restrictions, the Company also expects to offer travelers holidays in other Baltic states in the nearest future.
29
April
Novaturas Group financials for Q1 2020: affected by the COVID-19 outbreak
The first quarter of 2020 was marked by extraordinary circumstances for the entire tourism sector with the global travel business being affected by the COVID-19 virus. After successfully starting the year, Novaturas Group has faced the spread of the virus from mid-February, which affected the company's financial results.
03
April
Changes in Supervisory Board and Management Board
Birutė Čepanskienė, a member of the Management Board and Chief Commercial Officer will be replaced by Ieva Galvydiene starting from 1st April. B. Čepanskienė is leaving the Board due to personal circumstances.
17
March
Preliminary financial results for 2 months of 2020 and update on COVID-19 business impact
After a successful start of the year, Novaturas Group together with the global travel industry has faced declining travel demand in March due to the spread of COVID-19. After local governments in the Baltics have decided to take isolation measures, we have suspended all our operations until April 14th in Lithuania and Latvia and until May 1st in Estonia.
11
February
Novaturas Group financials for 2019: year ended with a profitability growth
Last year the tour organizing industry in the Baltics has been defined by an intensified competition and also slightly changing customer habits due to shifting weather seasons. All these conditions have had an effect on all tour operators including Novaturas Group and are reflected in financials of 9 months of 2019. However, the tour organising industry leader in the Baltics managed to overcome the challenges and ended 2019 with a robust last quarter. Future results also look promising as early booking campaign for summer 2020 is performing smoothly as never before.
02
December
Novaturas takes over Aurinko operations in Estonia
The leading tour operator in the Baltics Novaturas Group has agreed with Aurinko to carry out its operations in Estonia starting from the beginning of next year. One of the most capacious tour operators in Estonia and a Finnair subsidiary Aurinko has announced previously leaving the Estonian market and entrusted Novaturas for its proper know-how and stable financial status. The legal agreement has been signed between Novatours OÜ, subsidiary of Novaturas Group in Estonia and Aurinko OÜ.
31
October
Novaturas 9M 2019 financial results: challenging period ends with indicators of sustainable growth
Novaturas Group’s 9M 2019 financial results were affected by fierce competition coupled with softer demand for outbound trips due to hot summer weather in the Baltics. This precipitated oversupply on the marketplace, thereby affecting the profitability of tour operators. In turn, Novaturas expects to generate robust results in the 2019/2020 winter season. Early bookings for next year’s summer season also look promising.
22
October
“Novatours” was recognised as one of the best companies in Estonia
Estonian Chamber of Commerce and Industry, promoting strong and business friendly environment in the country, yearly awards the most competitive and accomplished companies in different industries. Tour operator “Novatours” Estonia was named as the most competitive company in tourism industry.
25
September
Regarding tour operator “Thomas Cook“ collapse
The news of the collapse of British tour operator “Thomas Cook“ has brought some chaos and uncertainty among the travelers community and tourism companies. To reassure our clients, partners and investors we want to highlight that “Thomas Cook“ is not AB “Novaturas“ partner.
05
September
Let’s be responsible: Baltic Sea seals need your help
Every year an increasing number of injured birds and seals that have suffered from human activities are found along the coast of Baltic Sea. As well as more than 20 stray and exhausted seals pups. Affected animals are being treated at the Lithuanian sea museum, even though there are no specialized facilities for their treatment and rehabilitation. Tour operator “Novaturas” is starting a partnership with the Lithuanian sea museum and is launching a fundraising campaign to establish a modern Baltic sea animals rehabilitation center.
04
September
The launch of summer 2020 holiday season
The end of the summer brings out nostalgic thoughts about already experienced holidays and inspires to think about the upcoming ones. Holiday planning is exciting and challenging at the same time - how to spend less and have a none the less quality vacations? One of the most effective ways to do so – purchase next year‘s vacations during early bookings.
20
August
AB “Novaturas“ among the Lithuanian business leaders
This year Lithuanian business news portal „Verslo Žinios“ has introduced three Lithuanian business leaders ratings: “TOP 1000 Lithuanian companies“, “Lithuanian Business Leaders 500“ (LVL 500) and “Service Sector Leaders 2018“, where the biggest Lithuanian companies are ranked by certain criteria: business growth, operational efficiency, employee benefits, transparency, contribution to the development of the business community while sharing the expertise. AB “Novaturas“ is on all three leaderboards.
09
August
The launch of ticket sales to Tokyo Olympic games
If you wish to support LTeam members from the tribunes of the world’s most important sports event and at the same time visit the land of the rising sun, you should start planning your trip now. AB “Novaturas” launches ticket sales for the 2020 Tokyo Olympics on Monday (the 12th of August 2019).
31
July
Novaturas announces its half-year 2019 financial results: stable sales, profitability under pressure
During the first half of 2019, in the increasingly competitive market environment, Novaturas Group managed to attract 1.9% more customers and increase its revenue by 3.8% compared to the first half of the previous year. However, the oversupply on the market, which has been lingering since 2018, affected the profitability of the Group, as well as the entire sector’s.
30
April
Novaturas announces its Q1 2019 financial results
Novaturas Group recorded a 9.2% y/y growth in the number of clients served during the first quarter of 2019, strengthening its position as the leading tour operator in the Baltic states. In the increasingly competitive market environment, the Group managed to increase its revenue by 11.5% compared to the first quarter of the previous year.
28
February
Novaturas Group with special prize from Warsaw Stock Exchange
The Warsaw Stock Exchange awarded Novaturas Group a special prize for last year’s dual-listing on the stock exchanges in Warsaw and Vilnius. The award was presented to Novaturas CEO Audronė Keinytė during the 2018 Stock Market Review Gala on 26 February 2019.
20
February
Novaturas Group records sound financial results for 2018 despite challenging market conditions
Novaturas Group’s revenue for 2018 reached almost EUR 182 million and was 29% higher than in 2017. Last year’s EBITDA amounted to EUR 8 million, compared to EUR 10.6 million a year earlier, and the consolidated net profit stood at EUR 5.4 million vs. EUR 8.2 million in 2017. The Group’s profitability was affected by abnormal weather conditions in all Baltic countries during the summer season and additional costs incurred in Q4 2018 related to the replacement of troubled Small Planet Airlines as the Group’s aviation partner in Lithuania.
06
February
Stock exchange event of the year – the debut of “Novaturas”
This week Nasdaq has announced the winners of the “Nasdaq Baltic Awards 2019“. For the first time stakeholders were also honored for their contributions to the sustainable growth of the Baltic capital markets. The largest tour operator in the Baltics, “Novaturas”, has been awarded for its debut in the Baltic Main market in Lithuania.
07
December
The easiest way to get your dream vacation
A journey is probably the best gift for any occasion all year round. Therefore, as the most important holidays of the year are approaching, “Novaturas”, a leading tour operator in the Baltics, made sure that dream vacation gift would be easily accessible to everyone. The company started working with the largest ticket distributor in the country "Bilietai.lt". Fro
28
November
“Novaturas“ implements plan "B" - scheduled flights will be executed as planned
Based on the information published by the competent civil aviation authorities, charter flights company „Small Planet Airlines“ proved to be unable to fulfill its contractual obligations, therefore AB „Novaturas“ is forced to use the plan "B".
27
November
“Novaturas” – Authorised Ticket Reseller (ATR) for Tokyo Olympic games
This week the Lithuanian National Olympic Committee (LNOC) and tour operator “Novaturas” has signed agreement, having become an official Olympic carrier of the Lithuanian delegation and fans.
07
November
Novaturas Group: 30% revenue growth and 32% customer growth in first three quarters of 2018, profitability influenced by weather conditions
Novaturas, the largest tour operator in the Baltics, listed on the Warsaw Stock Exchange and Nasdaq in Vilnius, increased its consolidated revenue from sales in the first nine months of 2018 by 30% y/y to EUR 140.2 million. During this period, the Group served 243.6 thousand customers, up by 32% on the previous year and more than in the entire 2017 (233.5 thousand customers).
08
August
Novaturas recorded 36% EBITDA growth in the first half of 2018
Novaturas Group, traded on the Warsaw Stock Exchange and the Nasdaq in Vilnius since March this year, recorded 43% y/y growth in revenue in the first half of 2018, to EUR 80.2 million, strengthening its position as the largest tour operator in the Baltic countries. The Group’s EBITDA after this year’s first six months reached nearly EUR 5.9 million, up by almost 36% on the preceding year, while net profit came in at EUR 4.4 million, denoting 24% growth from the same period of 2017.
16
July
Novaturas recorded revenue growth by 43% y/y in H1 2018
Novaturas, the largest tour operator in the Baltics, with shares traded on the Warsaw Stock Exchange and Nasdaq in Vilnius since March this year, recorded 43% y/y revenue growth in the first half of 2018 to EUR 80.2 million. From the beginning of the year, Novaturas Group handled a total of 134.5 thousand clients, denoting 42% growth in comparison with the same period last year.
27
June
Ventura Awards Gala: two awards for Novaturas
Enterprise Investors - the largest shareholder of Novaturas, the leading tour operator in the Baltics, has awarded the company as the Most Dynamic Company in Enterprise Investors’ portfolio, while Linas Aldonis, Novaturas’ CEO and chairman of the management board, has been recognized as The Manager of the Year.
09
May
Novaturas dynamically increases sales and improves profitability
Novaturas, the largest tour operator in the Baltic states, listed on the Warsaw Stock Exchange and Nasdaq Vilnius since March this year, recorded 49% y/y growth in sales in the first quarter of 2018. The Group’s EBITDA reached EUR 1.3 million and net profit was over EUR 0.9 million, denoting in both instances growth by several times from the same period last year.
20
March
Novaturas to debut on the Warsaw Stock Exchange and Nasdaq Vilnius on 21 March 2018
Novaturas, the largest tour operator in the Baltic countries, will be dual-listed on the Warsaw Stock Exchange and Nasdaq Vilnius, starting from 21 March 2018.
08
March
The share price in the Novaturas initial public offering set at EUR 10.5
The Company’s capitalization according to the final share price in the IPO will reach EUR 82.0 million (approx. PLN 344.5 million).
07
March
Novaturas increases its summer programme
Novaturas, the largest tour operator in the Baltic countries, has decided to further increase its 2018 summer programme, i.e. by 30% compared to last year’s summer programme.
26
February
Novaturas publishes prospectus and begins initial public offering
Novaturas, the largest tour operator in the Baltic countries, has published a prospectus prepared in connection with its initial public offering and intention to apply for the admission and introduction of its shares to trade on the Warsaw Stock Exchange and on Nasdaq Vilnius.
23
February
Novaturas prospectus approved
The Bank of Lithuania on 23 February 2018 approved the prospectus of Novaturas, the largest tour operator in the Baltic countries, the shareholders of which intend to conduct a public offering and list its shares on the Warsaw Stock Exchange and Nasdaq Vilnius. The approved document has been notified to the Polish Financial Supervision Authority and to the Estonian Financial Supervision Authority. The Company plans to publish its prospectus on 26 February 2018.
14
February
Novaturas confirms intention to conduct public offering and introduce shares to Warsaw Stock Exchange and Nasdaq Vilnius
Novaturas Group posts strong financial results for 2017 and early booking sales for 2018
12
January
Novaturas reports record-high early bookings for the summer season
Increased popularity of travel creates an impression, that many Baltic States citizens celebrated New Year’s Eve resting after a travel, traveling or planning a new trip. Novaturas, the largest tour operator in the Baltics which plans to debut on stock exchanges in Warsaw and Vilnius in 2018, has noticed record-breaking customer activity compared to the previous year's results. Early-bookings for the upcoming summer season have almost
doubled.