Preliminary December results of Novaturas: growing revenues, strong interest in long-haul travel

In December, Novaturas Group generated revenues of EUR 10.3 mln., which is an increase of 26%, compared to the last month of 2023, when they reached EUR 8.2 mln. The company served 7.5 thsnd. customers, compared to 8 thsnd. customers in the same period the year before last. By the end of the year, Novaturas managed to maintain a high load factor. In addition, in December, the company recorded a growing interest in exotic travel and an overall decrease in the share of last-minute sales, which are usually associated with lower margins. 

According to preliminary data, in total, between January and December 2024, the company recorded revenues of EUR 200.1 mln. and 232 thsnd. customers. In the corresponding period in 2023, revenues amounted to EUR 208 mln. and the number of customers to 259 thsnd. Novaturas Group plans to publish its final results for 2024 at the end of February.

"Due to the seasonality of the tourism market and the festive period, the last month of the year is usually less intense in terms of sales. However, we view this December positively, as it is the third consecutive month of revenue growth. This trend shows that our efforts to optimise our travel programme are bearing fruit. By reducing the number of flights to certain destinations, we have increased operational efficiency, which is what we are aiming for in this period. The share of last-minute trips in sales has decreased, which has a positive impact on the operating result. We have also maintained a very high load factor: in December it reached 98.5% (96.6% in December the year before last), and on long-haul trips the load factor reached 98.7%,” says Kristijonas Kaikaris, CEO of Novaturas Group.

In December, the largest number of Novaturas customers groupwide travelled to Tenerife, Egypt (Sharm el-Sheikh and Hurghada resorts), Gran Canaria and the United Arab Emirates (Dubai). In addition, the number of travellers flying to distant destinations increased significantly – by as much as 42%, compared to the previous year. These trips tend to be more profitable.

The highest growth in travellers (in December 2024, compared to December 2023) was recorded for trips to Vietnam (+240% more customers served), Sri Lanka (+120%) and Thailand (Phuket, +100%). Other destinations with stronger growth include the United Arab Emirates (Dubai), where the number of customers served increased by 9.9%, compared to December 2023.

In terms of early bookings for the 2025 summer season, made in December, the most significant increases were recorded for Italy (Catania, +78%), the resorts of Barcelona (+51%), Corfu (+39%) and Madeira (+16%). Compared to the last month of 2023, sales also increased for Turkey (+126%), driven by more active group bookings. In terms of early bookings for the next summer, made between September and December, the result is slightly more modest than in the same period the year before last (-6.7% in terms of the number of travellers). 

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.??? 

Darius Undzenas
CFO
+370 678 05749