| |
According to audited results, the Novaturas Group, a Baltic travel operator, generated
EUR 168.5 million in revenue in 2025, down 16.1% from EUR 200.9 million a year earlier.
Amid continued pressure in the travel market the Group remained loss-making, reporting
a net loss of EUR 1.4 million, compared with EUR 2.06 million in 2024 _excluding a
one-off non-cash write-off of EUR 5.7 million_. Annual adjusted EBITDA improved from
negative EUR 590 thousand to positive EUR 429 thousand.
The Group's revenue reached EUR 168.5 million last year, down 16.1% from EUR 200.9
million in 2024. The decline reflects the Group's efforts to improve operational efficiency
by optimising its travel programme.
"Although our results improved compared to 2024, we have not yet achieved our goal
of returning to sustainable profitability. The travel market continued to face aggressive
competition and excess capacity, which maintained pressure on pricing and margins
throughout the year. In response, we reviewed and reduced our travel programme, focused
more selectively on higher-margin destinations and maintained strict cost discipline.
These measures helped us to improve performance and reduce losses, but the operating
environment remains difficult and maintaining disciplined capacity and cost management
will remain a key priority in 2026," says Aleksejs Kriščuks, CEO of Novaturas Group.
Lower volumes amid continued market pressure
In 2025, the Novaturas Group served 191 thousand travellers, compared to 239 thousand
in 2024. During the summer season, the largest number of travellers were carried to
Turkey, Greece, Spain, Bulgaria and Montenegro, while in winter the most popular destinations
were Egypt, ski resorts and long-haul destinations.
Among the fastest-growing destinations in summer 2025 were Calabria, Barcelona and
Madeira. In winter, demand increased for ski trips to France and travel to Egypt.
In the long-haul segment, the strongest growth was recorded in Zanzibar, Vietnam,
Sri Lanka and Gambia.
According to Novaturas Group, the optimisation of the travel programme resulted in
lower overall passenger volumes, but contributed to better aircraft load factor. Last
year, the load factor increased by 1.5 percentage points to 97.2%, up from 95.7% in
2024. The strongest growth, an increase of 2 percentage points, was recorded in the
Estonian market.
In the long-haul segment, the load factor increased from 97.4% to 98.5%, exceeding
99% in the second half of the year. Performance also improved in the ski travel segment,
where flights operated at a load factor of 97.2%, compared to 90.5% in 2024.
However, improved aircraft utilisation did not automatically translate into stronger
profitability, as margins remained under pressure due to competitive pricing and market
oversupply.
2026 began with continued uncertainty
Novaturas Group notes that 2026 has started in an environment of continued uncertainty
for the tourism sector. Though the Group recorded a stronger early bookings for the
upcoming summer season _by the end of last year, advance sales for the 2026 summer
season were 59% higher than at the same time a year earlier_, geopolitical tensions,
including the war in the Middle East that escalated in March, are affecting travel
demand and consumer behaviour across the market.
As a result, Novaturas Group will continue to focus on operational efficiency, cost
control and risk management. At the same time, the company also plans to strengthen
its competitiveness by expanding its hotel offering with more competitively priced
options and introducing new destinations. From summer 2026, Novaturas Group will launch
trips to Morocco and has additionally introduced Mallorca from Lithuania and Estonia,
while this destination was already available in Latvia.
Key audited financial indicators of the Novaturas Group for 2025 _EUR thousand_
2025
_audited_ 2024
_audited_ Change
Revenue 168,483 200,878 -16.1%
Gross profit 19,611 20,602 -4.8%
EBITDA 429 _6,272_ 106.8%
Adjusted EBITDA 429 _590_ 172.8%
Net profit _loss_ _1,377_ _7,744_ 82.2%
|
|
UNI-EN: Novaturas Group's audited results for 2025: losses reduced by 32%
