Core Insights - The CEO and Interim CFO of Novaturas presented the company's consolidated financial results for the first half of 2025, highlighting significant declines in revenue and profitability compared to previous years [1]. Financial Performance - Revenue for H1 2025 was EUR 74.142 million, down from EUR 91.320 million in H1 2024 and EUR 101.351 million in H1 2023, indicating a year-over-year decline of 18.3% from 2024 and 26.9% from 2023 [2]. - Gross profit for H1 2025 was EUR 8.926 million, slightly up from EUR 8.507 million in H1 2024 but down from EUR 15.426 million in H1 2023 [2]. - EBITDA for H1 2025 was a loss of EUR 0.254 million, an improvement from a loss of EUR 1.565 million in H1 2024 but significantly lower than the positive EBITDA of EUR 5.667 million in H1 2023 [2]. - The net loss for H1 2025 was EUR 0.791 million, an improvement from a net loss of EUR 2.277 million in H1 2024 but a stark contrast to the net profit of EUR 4.582 million in H1 2023 [2]. Company Overview - Novaturas Group is a tour operator with over 25 years of experience, offering a wide range of travel destinations from the Baltic States [2]. - In 2024, Novaturas Group recorded revenues of EUR 201 million and served 239,000 passengers across Lithuania, Latvia, and Estonia [2].

Financial Performance - Novaturas generated EUR 74 million in revenue in H1 2025, a decline of 19% compared to H1 2024, primarily due to a streamlined travel program [1][14] - Net losses decreased from EUR 2.28 million in H1 2024 to EUR 791 thousand in H1 2025, indicating improved financial health [1][14] - The company expects to operate profitably in the second half of the year, which should enhance the overall annual result [1][2] Operational Efficiency - The total number of travelers served decreased from 113,000 in H1 2024 to 84,000 in H1 2025, attributed to the optimized travel program [3] - The aircraft load factor improved to 98.1% in H1 2025 from 94.8% a year earlier, with the Estonian market showing significant improvement [3] - Long-haul travel saw an 11% increase in passenger numbers year-on-year, with notable growth in Lithuania at 28% [4] Strategic Developments - Novaturas secured a strategic investor, Neset Kockar, who acquired a 23.2% stake, with plans to increase to 33.19% upon completion of the second phase of the transaction [7][8] - The strategic investor provided a EUR 2 million loan, enhancing the company's financial capacity and enabling it to secure insurance agreements [9][10] - A new board was appointed, including members with extensive international travel business experience, to guide the company forward [12][13] Market Trends - Ski travel showed solid gains with an 18.1% increase in customers for trips to Lyon and Geneva, achieving a record load factor of 99.4% [5] - Early sales for long-haul trips in the 2025/2026 winter season increased by 75% compared to the same period in 2024, driven by strong demand for specific destinations [6]

Group 1 - The Bank of Lithuania has publicly disclosed that AB Novaturas submitted its audited annual financial statements later than required by law, with the reports submitted on June 9, 2025 [1] - Novaturas postponed the publication of its audited financial statements for 2024 due to extended preparation and audit processes, which aimed to ensure quality and accuracy, but these delays did not impact the 2024 results [2] - The Bank of Lithuania stated that there is no evidence the delay significantly affected third parties or the company itself, and Novaturas has acknowledged the breach and rectified the issue [3] Group 2 - The Novaturas Group is a tour operator with over 25 years of experience, offering a wide range of travel destinations from the Baltic States [4] - In 2024, Novaturas Group recorded revenues of EUR 201 million and served 239 thousand passengers across Lithuania, Latvia, and Estonia [4]

Sending a correction due to mistake in the Meeting's accounting day - 23 June 2025 On 1 July 2025, the ordinary general meeting of shareholders (the Meeting) of Public limited liability company “Novaturas”, code 135567698, registered at A. Mickevičiaus str. 27, Kaunas, the Republic of Lithuania (the Company), is being convened upon the initiative and decision of the Board of the Company. The place of the Meeting (address): J. Jasinskio st. 16 C, Vilnius, Lithuania, Conference Centre, hall B. Start of the M ...

Core Insights - Novaturas has signed an agreement for a strategic investment, with Neset Kockar acquiring 23.2% of the company's shares, marking a significant development for the company [1][6][10] - The investment is expected to enhance Novaturas' competitive advantage and growth opportunities through Kockar's extensive tourism network and experience [2][4] Company Overview - Novaturas is a well-established tour operator in the Baltic States, operating for 25 years and offering a wide range of travel destinations [12] - In 2024, Novaturas recorded revenues of EUR 201 million and served 239,000 passengers across Lithuania, Latvia, and Estonia [13] Investment Details - The first stage of the transaction involved Kockar acquiring 1,811,258 shares at a price of EUR 0.64 per share, totaling EUR 1.159 million [7][9] - The second stage will see Kockar acquire an additional 9.99% of shares, bringing his total ownership to 33.19% upon completion [10] Strategic Plans - The company plans to review its strategy and development prospects, aiming to leverage synergies with Kockar's businesses in popular travel destinations [3][8] - Novaturas intends to expand its range of hotels and travel offers, enhancing customer experience tailored to different traveler needs [3][4] Financial Support - Kockar has provided a loan of EUR 1 million to strengthen Novaturas' financial capacity, which is crucial for navigating the seasonal fluctuations in the tourism market [9]

Company Overview - Novaturas Group is a tour operator with 25 years of experience, offering a wide range of travel destinations from the Baltic States [4] - In 2024, the company recorded revenues of EUR 201 million and served 239 thousand passengers in Lithuania, Latvia, and Estonia [4] Financial Reporting Updates - The publication date of the audited financial statement for 2024 has been rescheduled to June 12, 2025, due to extended audit and internal financial report preparation processes [1] - The delay is attributed to the reconciliation of balances with overseas suppliers and adjustments to required information [1] - During the 2023 audit, management initiated a reconciliation of balances with suppliers for prior periods, which contributed to the delay [2] - The 2023 financial statements included a qualification indicating that certain data may be subject to adjustments [2] Future Financial Statements - Prior period adjustments will not affect the 2024 results, and reconciliation processes for 2024 are proceeding smoothly [3] - Management aims to ensure the quality and accuracy of the 2024 financial statements, complying with all applicable requirements [3] - The goal is to eliminate the qualification related to prior periods in future reports [3]