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Rīga
Wednesday, December 18, 2024
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Lithuanian tour company reduces loss forecast

Novaturas is a leading tour operator in the Baltic States, and it has just revised its performance forecast for 2024. The group low expects its EBITDA loss to amount to EUR 2 million for the year, as opposed to EUR 4.1 million, as projected last month. Net losses are forecast to amount to EUR 3.4 million, as against EUR 5.1 million envisaged in November.

“September and October were profitable months for us,” Novaturas declared on Friday.  “This has made it possible for us to expect that our full-year results will be better than was the case when we presented our third quarter results in November.”

The Novaturas Group CEO, Kristijonas Kaikaris, released a news release on the matter:  “November is the second month in a row during which we recorded an increase in revenues as against last year, and the number of our customers has also been on the rise.”

Novaturas revenues dropped by 6% year-on-year during the first 11 months of 2024 to EUR 190 million, as the number of travellers shrank by 8% to 232,000.

During the month of November, the group generated revenues of EUR 11.5 million with services rendered to 11,700 clients. This was up by 16% and 7% respectively in comparison to the same month last year.

Novaturas Group revenues in the Baltic States rose by 6% last year to EUR 208.3 million as against 2022. The group posted an annual profit of EUR 3.6 million in 2023, as opposed to a loss in 2022 of EUR 700,000.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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