Unaudited 12-Month Results of the Novaturas Group for 2025

Financial Performance - The Novaturas Group generated EUR 168 million in consolidated revenue for 2025, a decrease of 16.1% compared to 2024 [1][3] - The group recorded a gross profit of EUR 19.65 million, down 5.3% from EUR 20.74 million in 2024 [3] - EBITDA reached EUR 420 thousand, representing a 107% increase from a loss of EUR 6.13 million in 2024 [2][3] - Adjusted EBITDA also amounted to EUR 420 thousand, a 194% increase compared to a loss of EUR 449 thousand in 2024 [2][3] - The net loss for the group was EUR 1.2 million, which is a 39% improvement from a loss of EUR 7.6 million in 2024 [3] Operational Strategy - The company focused on increasing profitability by intentionally reducing volumes and optimizing the travel program, which led to a decline in revenue and the number of travelers carried [4] - The strategy included reducing volumes on loss-making routes and concentrating on higher-margin destinations, which improved margins and operational efficiency [4] - Despite higher expectations for the end of the year, increased market supply and disruptions at Vilnius Airport negatively impacted last-minute travel demand [4] Company Overview - The Novaturas Group is a tour operator with over 25 years of experience, offering a wide range of destinations in the Baltic States [5] - The company provides various types of trips, including recreational, sightseeing, exotic, skiing, workation, and group trips to numerous global destinations [5] - In 2025, the group served 191 thousand passengers across Lithuania, Latvia, and Estonia [6]