Published: 2020-07-15 15:05:00 CEST
AB Novaturas
Notification on material event

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. 

With the softening of the restrictions, the Company has renewed its partial operations from all Baltic markets as of July 1 and resumed holiday trips to Greece (resorts of Crete, Rhodes and Corfu). The Company expects that as restrictions continue to ease, it will be able to offer its customers more safe holiday destinations. Roundtrips to European countries are also planned to be renewed in the nearest future. For those who want to spend their vacation closer to home, the Company offers a choice of accommodation in the resorts of the Baltic States.

Following the restart of operations, the Company recorded an increased interest in last-minute travel offers, as well as demand for next year's summer holidays. When assessing further business prospects and planning the scope of activities, the Company's management team constantly follows the latest guidelines for the regulation of organized tours, safety recommendations in the source markets and destinations, and takes into account customer demand. 

To ensure the safety of holidaymakers, all organized tours are carried out in accordance with the recommendations of the responsible authorities. The safety of travellers is ensured by all the Company's business partners, implementing preventive and security measures at airports, transportation, hotels. Safe travel is ensured by keeping longer-than-usual distances at airports, wearing protective face masks throughout the trip, additional disinfectants on planes, and during transportation, plenty of security measures are taken by host hotels.

About Novaturas Group

Novaturas Group is the leading tour operator in the Baltics states. Since 21 March 2018, Novaturas shares have been dual-listed on the Warsaw Stock Exchange and on Nasdaq Vilnius.

Novaturas was established in 1999, became the market leader in the Baltics in 2004. Aside from the Baltics, Novaturas has begun offering its products in Belarus, where they are retailed through local partners.

Novaturas continues to attract new clients thanks to its attractive and diverse offering and the high quality of its services. The Group offers both summer and winter package holidays as well as sightseeing tours by coach or plane to more than 30 destinations worldwide, including the most popular holiday resorts in Southern Europe as well as select locations in North Africa, the Middle East, Asia and Latin America.

The Group's strategy also aims to retain diverse and complementary distribution channels. Novaturas works with over 400 travel agencies, including all of the major agencies in the Baltics. It also operates retail offices of its own in main cities of Lithuania, Latvia and Estonia, and is investing in further development of its e-commerce channel.

The Company’s asset-light business model, which is characterized by strong cash flows from operating activities and low capital expenditures, allows it to pay out a large part of its earnings to shareholders. Paying regular dividends is one of the key elements of the Company's strategy. Every year the Management Board expects to propose for distribution 70-80% of the Company’s net profit.

Finance director,
Tomas Staškūnas,

+370 687 10426