Novaturas (NTU1L) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue rose 16.6% to €48M, with net profit of €2.6M, reversing a €3M loss in Q4 2023; EBITDA reached €3.3M (Q4 2023: -€1.5M).

• Full-year 2024 revenue was €201M, down 3.6% year-over-year, with a net loss of €2.5M, improved from a projected €5.1M loss after H1.

• Operational efficiency and capacity management led to higher load factors (Q4: 98.9%), improved profitability, and reduced last-minute sales.

• Served 239,000 travelers in 2024, down 7.6% from 2023, with notable growth in long-haul and select destinations.

• Net Promoter Score rose to 51% in Q4 2024, with significant improvement in Estonia.

Financial highlights

• Q4 2024 gross profit was €8.2M, up 177% year-over-year; gross margin at 17% (Q4 2023: 7.2%).

• Q4 EBITDA (excluding one-offs) reached €2.3M, up 548% from Q3 2023; full-year EBITDA was -€863K.

• Q4 net profit margin was 5.5% (Q4 2023: -7.1%); full-year net margin was -1.25%.

• Earnings per share for 2024: -€0.32 (2023: €0.44); Q4 EPS: €0.34.

• Market capitalization at year-end was €11.28M, down 8% in Q4.

Outlook and guidance

• 2025 targets: 170,000–190,000 passengers, €150M–€170M revenue, €3M EBITDA, €2M net profit.

• Focus on profitability, capacity optimization, early sales, and digital innovation including AI tools and hybrid packaging.

• Strategic review with Superia underway to explore growth, capital raising, or divestment.