Novaturas raised its EBITDA forecast to EUR 4-6 million, net profit to EUR 2-4 million in 2023

Novaturas raised its EBITDA forecast for this year to EUR 4-6 million from EUR 3-5 million previously assumed and net profit to EUR 2-4 million from EUR 1-3 million, CEO Vitalij Rakovski informed. The company maintained its forecast of EUR 210-225 million in revenues in 2023.

“The diversified and expanded destination program in the region, as well as effective cost management, allow us to update the financial forecast for 2023. We expect EBITDA of EUR 4-6 million and net profit of EUR 2-4 million,” said Rakovski during a press video conference.

“The reason for the change in the forecast is primarily a strong first quarter […]. Of course, strong sales for the summer season is an additional factor to raise the forecast,” he added.

Rakovski also informed that the company attaches great importance to online sales and intends to implement a new website that will be based on new technology and will provide a completely new user experience. Its launch is planned for June.

Novaturas had a net profit of EUR 2.26 million and EBITDA of EUR 2.64 million in Q1 2023. Consolidated sales revenues reached EUR 39.6 million.

Novaturas is the largest tour operator in Lithuania, Latvia and Estonia both in terms of sales value and the number of passengers. The company debuted on the Warsaw Stock Exchange in 2018.

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