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2022-11-17 08:15:20 CET 2022-11-17 08:15:25 CET REGULATED INFORMATION AB Novaturas - Interim informationNovaturas group financials for 9M 2022: Strong comeback after challenging Q2After a more challenging first half, we returned to the path of profitable activity in July-September, with EBITDA reaching EUR 2.1 million in Q3, which is more than 10 times higher than during the same period in 2021, and 63 per cent more than Q3 2019 results. This was accomplished by responding to changing customer preferences and optimising the travel offers accordingly, improving the punctuality of flights in Estonia, achieving a higher average package price, and responding to fluctuations in jet fuel prices in a timely manner. Optimising our range of travel offers in order to match demand as much as possible, respond to changes in the competitive environment, and reduce last-minute flights allowed us to draw in 88 thousands travellers in Q3. Although this is still lower than in 2018 or 2019, it is very close to July-September 2017 results. Jet fuel prices fell significantly during Q3 2022 and were approximately 15 per cent lower than at the beginning of the summer, although they were still higher than at the beginning of the year. Based on the prices of jet fuel derivatives, it is expected that fuel will continue to go down in price. In January-September 2022, we generated a total of EUR 155 million in income and served 216 thousands travellers at the group level, with 2022 EBITDA reaching EUR 1.4 million at the end of the quarter. More early bookings The specifics of the tourism business are that today’s situation is determined by decisions made a year ago, because travellers like to plan their holidays in advance. So in evaluating the results of the current period and looking to the future, we see that we are successfully returning to a phase of sustainable growth. Financial results of 9M 2022:
About “Novaturas” group AB “Novaturas” group is the largest tour operator in the Baltic States, offering summer and winter package holidays in more than 30 destinations worldwide and more than 100 sightseeing routes. In 2019, the group served more than 293 thousand customers. CFO Attachments |
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