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2023 03 15

Preliminary February results of Novaturas: a strong finish of the year provides a solid foundation for sustainable growth

This February, Novaturas Group, the leader in the Baltic tourism market, recorded revenues of EUR 12.8 million, which is up 36 per cent compared to EUR 9.4 million in February 2022. This February, the company served around 12.2 thousand customers, which is an increase of 6.4 per cent, or 0.7 thousand passengers, compared to the same period last year.

“With the summer season fast approaching and being the most active period of the year in the tourism market, we are fully prepared for it. Diversified sales channels, the widest range of destinations offered in the region and a balanced travel programme allow us to confidently provide quality services to our customers, despite the intensifying competitive environment. We are striving to increasingly improve our customer experience and we are taking real steps to do so, for example, we are introducing new services and preparing for the launch of new destinations during the early bookings next winter,” comments Vitalij Rakovski, CEO of Novaturas Group. 

Mr. Rakovski adds that early summer bookings in January and February this year were 36 per cent higher than last year and 8 per cent higher than in 2019. The confident closure of this year’s winter programme is also encouraging. Although the number of passengers in November–January was lower than in the same period in the previous year, this February the company has increased its travel offering and served more passengers compared to last February.

The successful second half of the previous year has enabled Novaturas Group to set ambitious targets for 2023. This year, the company expects to reach 270–290 thousand passengers, revenues of EUR 210–225 million and EBITDA of EUR 3–5 million.

The strategic priorities of Novaturas Group include an even greater focus on increasing the company’s value and profitability, data-driven solutions, advanced technological developments in pricing and other business processes. This is also reflected in the recent changes in the management team, with the new CFO Vygantas Reifonas joining the top management of the company, and Arūnas Žilys, who previously held this position, taking over the lead of the Analytics Department of the Group. 

The company notes that it is too early to assess the impact of new players entering the market on the tourism sector in the Baltic States. Moreover, their business geography covers both the Russian and Belarusian markets, and the example of last year, when a major player in the tourism market ceased operations in the country due to sanctions, proves that it is difficult to assess the continuity of such businesses. According to the company, it is the transparent capital structure that gives Novaturas Group a competitive advantage.


About the company 

Novaturas Group is the largest tour operator in the Baltic States, offering summer and winter package holidays by plane to more than 30 destinations worldwide and more than 100 tours.