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Novaturas AB (NTU1L) investor relations material

Novaturas AB Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary19 Aug, 2025

Executive summary

  • Revenue for H1 2025 was €74 million, an 18.8–19% decline year-over-year, reflecting strategic capacity reduction and product mix optimization amid intensified market competition.

  • EBITDA improved to -€254,000 from -€1.665 million, and net loss narrowed by 65.3% to -€791,000.

  • Passenger volume dropped to 84,000 from 113,000, with load factor rising to a record 98.1% and NPS increasing to 61%.

  • Strategic investor Neset Koçkar acquired a 23.2% stake, injecting €2 million in loans and enabling a €9 million insurance guarantee.

  • Early bookings for 2025/2026 long-haul trips rose 75% year-over-year, supporting future growth.

Financial highlights

  • Gross profit increased to €8.93 million, with gross margin up to 12.04% from 9.3% year-over-year.

  • Profit per passenger nearly doubled to €55 from €28 year-over-year.

  • Operating loss reduced to €-408,000 from €-1.63 million; net loss margin improved to -1.07% from -2.49%.

  • Return on assets improved to -1.88% and return on equity to -10.94%; debt/equity ratio rose to 188.46%.

  • Cash and cash equivalents decreased to €1.39 million from €2.72 million at year-end 2024.

Outlook and guidance

  • Full-year 2025 guidance: 170,000–190,000 passengers, €160–180 million in revenue, EBITDA of €1.1–1.6 million, and net profit up to €0.5 million.

  • Early sales for summer 2026 and efficiency measures are expected to improve cash flow and profitability.

  • Collaboration with the new strategic investor aims to expand hotel and travel package offerings, with benefits expected in 2026.

  • Dividend payments are deferred until after debt reduction and return to sustainable profitability, likely post-2027.

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Frequently asked questions

Novaturas AB is a leading tour operator in the Baltic States, offering a variety of travel services primarily in Lithuania, Latvia, and Estonia. The company's operations are divided into several segments, including flight packages, sightseeing tours by plane or coach, and other travel-related services. Novaturas AB provides both summer and winter holiday packages, and offers flights, hotel accommodations, and other related services. Their offerings are available through a network of retail travel agencies, direct sales channels, and an e-commerce platform. The company is headquartered in Kaunas, Lithuania, and its shares are listed on the NASDAQ.

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