Novaturas earned profit of EUR 3.7 mln. – the targets for this year include operational efficiency and improved customer experience

According to unaudited data, Novaturas, the largest tour operator in the Baltic States, generated revenues of EUR 209 mln. last year. This is an increase of 6%, compared to 2022. The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 7 times to EUR 5.5 mln. The loss of EUR 0.6 mln. recorded for 2022 was replaced by an annual profit of EUR 3.7 mln. last year. 

“Last year was a truly successful year for Novaturas, with revenues and EBITDA outperforming the recent five years. In this increasingly competitive environment, the key factor was our broadest offering of destinations in the region and its prompt management in response to customer needs. In addition, falling fuel prices made travel more affordable for travellers and had a positive impact on profitability,” said Kristijonas Kaikaris, CEO of Novaturas Group.

According to him, last year’s focus was not only on the main holiday destinations popular among travellers, such as Turkey, Greek islands, Bulgaria, Italian and Spanish resorts, Egypt, Tenerife, Madeira, but also on the growing number of travellers to Montenegro, which has become a business card of Novaturas, as well as to Tunisia. According to the data of the company, every second organised tourism traveller who went on holiday to Montenegro chose Novaturas.

The company also offers a wide range of tours and exotic destinations, skiing trips, as well as the increasingly popular workation. Novaturas has been steadily growing in the organisation of large group trips. Last year, together with its partners, the company implemented the largest workation in the history of Lithuanian tourism for the Tesonet Accelerator. Novaturas charter flights carried almost 2.5 thsnd. passengers. 

Prompt response and flexibility
In 2023, Novaturas served a total of 259 thsnd. customers, which is a slight decrease (3%) compared to 2022. This is due to both an increased competition in the market and the war in Israel as a result of which Novaturas, in order to ensure security and to respond to travellers’ behaviour, had to temporarily discontinue trips to Jordan and optimise the Egypt programme.

“Last year we were valued by travellers for our responsible response to the situation in Israel, when we promptly cancelled trips to destinations that were less safe at the time out of concern for our customers, and for our flexibility and prompt action in the wake of the fires in Rhodes Island. It is crucial that travellers feel safe even in unexpected situations, and our aim is to provide all the assistance they need without delay,” said Mr Kaikaris.