The top management of the tour operator AB Novaturas (hereinafter referred to as Novaturas) has passed a decision to conduct an analysis of strategic alternatives. For this purpose, a contract was signed on 24 January with the financial advisory firm Superia.
“As part of the strategy review of the company and taking into account the dynamic situation and competitive environment in the tourism sector, we have decided to assess the strategic alternatives of the company. This analysis is an important step towards strengthening our performance and finding the most appropriate solutions to create value for our shareholders, employees, customers, and partners,” says Kristijonas Kaikaris, CEO of Novaturas Group.
The analysis of strategic alternatives will include an assessment of various possible scenarios, including but not limited to raising additional capital or attracting a strategic investor, divestment or other transactions and strategic decisions, various combinations of these, or a decision not to change the current strategy. The company anticipates that this review of alternatives will provide it with an opportunity to assess new growth paths and market potential, which could help strengthen Novaturas’ positions in the region.
There is no date set for the completion of the analysis of alternatives and Novaturas does not intend to publish any interim announcements on the progress of the review unless they relate to material decisions or events.
As announced at the beginning of January, preliminary data show that in 2024 the company served 232 thsnd. customers and generated revenues of EUR 200.1 mln.
About the company
Novaturas Group is the largest and the only charter flights‘ local tour operator in the Baltic States, offering summer and winter trips to more than 30 destinations worldwide and more than 100 tours. Based on audited data, in 2023 Novaturas Group recorded revenues of EUR 208,3 million and served 259 000 passengers in Lithuania, Latvia and Estonia.
Darius Undzėnas
CFO
+370 678 05749
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