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]

Group 1 - Novaturas Group announces the appointment of Auksė Kriaučiūnaitė as Group Chief Financial Officer (CFO) effective January 7, 2026, after serving as Interim CFO since July 2025 [1][2] - Auksė Kriaučiūnaitė's appointment is based on her outstanding performance and the trust she has earned from the Board and executive leadership, highlighting her ability to lead with discipline and strategic foresight [2][3] - The company recorded revenues of EUR 201 million in 2024 and served 239 thousand passengers across Lithuania, Latvia, and Estonia, indicating a strong market presence [5] Group 2 - Auksė Kriaučiūnaitė has over eight years of experience in finance and accounting, previously working at Ernst & Young Baltic, which has equipped her with competencies in financial data management and process optimization [3] - Auksė Kriaučiūnaitė aims to improve efficiency, strengthen the finance team, and ensure sustainable profitability in the dynamic tourism market [4] - Novaturas Group has been operating for over 25 years, offering a wide range of travel destinations and services, including recreational, sightseeing, and group trips [5]

Group 1 - The second stage of the transaction involving strategic investor Neset Kockar has been terminated, with ongoing negotiations for an additional share package [1] - The Lithuanian, Latvian, and Estonian Competition Authorities are conducting formal proceedings regarding Neset Kockar's applications for the potential acquisition of additional shares, with decisions expected by the end of Q1 2026 [2] - Novaturas Group is a tour operator with over 25 years of experience, offering a wide range of travel destinations and recorded revenues of EUR 201 million in 2024, serving 239 thousand passengers [3]

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 thousand passengers in Lithuania, Latvia, and Estonia [2] Clarification on Investigation - Recent Turkish media reports incorrectly linked Novaturas shareholder Mr. Neset Kockar to an investigation, which has been clarified as false [1] - The investigation pertains to earlier transactions of a hotel owned by Mr. Ismail Lepiev (Prince Group) before its acquisition by Adali Otelcilik, a subsidiary of the ANEX Group [1] - Novaturas and its shareholder are confirmed to be unrelated to any violations [1]

Leadership Change - Novaturas Group has announced a leadership change, with Ieva Galvydienė becoming the new CEO effective October 15, succeeding Kristijonas Kaikaris who is moving to the IT sector [1][5] - Ieva Galvydienė has been with Novaturas since 2006, progressing from a travel sales manager to Chief Commercial Officer, and is expected to leverage her extensive experience to enhance the company's market position and client value [2][4] Company Performance - Novaturas Group recorded revenues of EUR 201 million in 2024 and served 239,000 passengers across Lithuania, Latvia, and Estonia [6] - The company has been operational for over 25 years, offering a diverse range of travel services including recreational, sightseeing, and group trips [6] Strategic Developments - The company attracted a strategic investor, Neset Kockar, in spring 2025, which is anticipated to strengthen its financial position and create synergies with Kockar's portfolio in various sectors [6][3] - Kristijonas Kaikaris highlighted the successful optimization of the travel program and the strengthening of the company's financial capabilities during his tenure [5]

Group 1 - The company attracted a strategic investor, Neset Kockar, who acquired 23.2% of its shares in March [1] - The second stage of the transaction, which would increase Kockar's control to 33.19%, is being terminated, and new agreement terms are under negotiation [2] - Kockar's investment has strengthened the company's financial position, providing a €2 million loan and facilitating agreements with financial institutions [3] Group 2 - Novaturas Group is a leading tour operator in the Baltic States with over 25 years of experience, offering a wide range of travel services [4] - In 2024, Novaturas Group recorded €201 million in revenue and served 239,000 passengers across Lithuania, Latvia, and Estonia [4]

Core Insights - Novaturas Group will present its consolidated unaudited financial results for the first half of 2025 on August 19th, 2025 [1] Group Information - The presentation will be led by CEO Mr. Kristijonas Kaikaris and Interim CFO Ms. Auksė Kriaučiūnaitė [1] - Investors are invited to register for the webinar through a provided link [1]

Group 1 - A new board of directors has been elected at Novaturas, with Sebnem Gunel and Chris Mottershead joining as new members, while Gediminas Almantas continues as Chair [1][6] - The appointment of the new board is aimed at reinforcing governance and strengthening market position, with a focus on strategic decision-making and growth in the Baltic market [2][3] - Novaturas has onboarded a strategic investor, Neset Kockar, who acquired a 23.2% stake earlier this year, with plans to increase his share to 33.19% after the final stage of the transaction [3] Group 2 - Sebnem Gunel has extensive experience in the tourism industry and has held various executive roles, currently serving as Director of operations in the Netherlands for Anex Group [4] - Chris Mottershead brings over 30 years of international experience in the travel industry, having held leadership positions at major companies and currently serving as President of the Institute of Travel and Tourism [5] - Gediminas Almantas has significant leadership experience and continues to serve as an independent member of the board, having previously been the CEO of Lithuanian Airports [6] Group 3 - Novaturas Group is a leading tour operator in the Baltic States, offering a wide range of travel destinations and services, with revenues of EUR 201 million and 239,000 passengers served in 2024 [7]

Management Change - Novaturas Group announced that Darius Undzėnas will step down as Chief Financial Officer effective July 15, with the company currently searching for a replacement [1][2] - Kristijonas Kaikaris, CEO of Novaturas, expressed gratitude for Darius's contributions and acknowledged the company's new stage following the attraction of a strong strategic investor [1][2] Interim Management - Until a new CFO is appointed, Auksė Kriaučiūnaitė, the Senior Financial Controller, will temporarily assume CFO responsibilities [3] - Auksė Kriaučiūnaitė has extensive international experience in financial accounting, reporting, and tax advisory, and has previously served as interim CFO for Novaturas [3] 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 [4] - In 2024, Novaturas Group recorded revenues of EUR 201 million and served 239 thousand passengers across Lithuania, Latvia, and Estonia [4]

Core Insights - Novaturas Group reported audited revenues of EUR 201 million for 2024, a 3.6% decline from 2023, with a total of 239,000 travelers served, down 8% from 259,000 in 2023 [1][17] - The company experienced a net loss of EUR 7.6 million for the year, primarily due to a one-off goodwill impairment of EUR 5.7 million [3][15] - Despite challenges in the first half of 2024, the company returned to profitability in the fourth quarter with an adjusted EBITDA of EUR 2.3 million [1][2] Financial Performance - Revenue for 2024 was EUR 200.9 million, compared to EUR 208.3 million in 2023 [15] - Gross profit decreased to EUR 20.7 million from EUR 26.2 million in 2023 [15] - The adjusted annual EBITDA was reported at EUR -449,000, while the net loss reached EUR -7.6 million [3][15] Operational Highlights - The first half of 2024 was marked by a challenging oversupplied market, leading to a negative EBITDA of EUR -1.6 million [1] - A stronger autumn and winter season improved results, with unaudited EBITDA at EUR -863,000 and a net loss of EUR -2.5 million [2] - The company successfully increased traveler numbers to popular destinations, with a 149% increase in trips to Spain and significant growth in long-haul travel sales [12][13] Strategic Developments - In early 2025, Novaturas entered a partnership with strategic investor Neset Kockar, acquiring a 23.2% stake, with plans for further acquisition to 33.19% [7][8] - The company plans to review its strategy and develop collaborations with the new shareholder's businesses to enhance offerings for Baltic travelers [9] - Novaturas is testing a hybrid travel packaging solution to provide a wider range of hotel options and pricing for clients [10] Market Trends - The company adjusted its travel offerings based on customer preferences, leading to higher operational efficiency [11] - Group travel segments, particularly sports and activity-based trips, gained popularity, with Turkey and Greece being favored destinations [13] - The share of last-minute bookings was successfully reduced, and the aircraft load factor increased to 98.9% in the fourth quarter [14]