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]

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]

Core Insights - Novaturas Group has decided to expand its loan agreement with strategic investor Neset Kockar from Turkey, receiving an additional EUR 1 million loan and extending the maturity of an existing EUR 1 million loan [1][2] - The new loan agreement reflects a growing partnership between Novaturas and its investor, highlighting the benefits of this collaboration [3] Financial Details - The initial loan agreement was signed in March 2023, with a short-term loan of up to EUR 1 million, repayable by 30 June 2025, at an annual interest rate of 8.5% [2] - Following the amendments, the loan maturity has been extended to 30 June 2026, and the company will receive an additional EUR 1 million loan under the same terms [2] 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, Novaturas recorded revenues of EUR 201 million and served 239,000 passengers across Lithuania, Latvia, and Estonia [4]

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]