Novaturas (NTU1L) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was EUR 69.8 million, down 6% year-over-year, mainly due to a one-off legal dispute with UAB GetJet Airlines impacting EBITDA and net profit.

• EBITDA was EUR -5.6 million and net loss EUR 7.9 million; adjusted EBITDA (excluding legal dispute) was EUR -2.1 million.

• Served 74,000 travellers with an average aircraft load factor of 96.7% across the Baltics; strongest growth in Crete, Tunisia, Bulgaria, Barcelona, and Lyon.

• Advance bookings for winter 2026-2027 up 36% year-over-year, with notable growth in Thailand, Vietnam, and Sri Lanka.

• New CEO and CFO appointed in April and May 2026, respectively.

Financial highlights

• Revenue decreased to EUR 69.8 million from EUR 74.1 million in H1 2025 (-5.8%).

• Gross profit fell 28% to EUR 6.4 million; gross margin dropped to 9.18% from 12.04%.

• Operating loss widened to EUR -5.7 million from EUR -0.4 million; net loss increased to EUR -7.9 million from EUR -0.8 million.

• Adjusted EBITDA (excluding GetJet dispute) was EUR -2.1 million.

• Earnings per share fell to EUR -1.01 from EUR -0.10.

Outlook and guidance

• Focus for H2 2026 is on improving profitability, operational efficiency, balanced travel program, and stimulating advance sales.

• Management expects measures implemented to strengthen competitiveness and support sustainable long-term growth.