UNI-EN 105:Novaturas group financials for 6M 2022: high fuel prices effected company' profitability
Firma: NOVATURAS ABSpis treści:
1. REPORT
2. INFORMATION ABOUT THE ENTITY
3. SIGNATURE OF PERSONS REPRESENTING THE COMPANY
Spis załączników:
| POLISH FINANCIAL SUPERVISION AUTHORITY | |||||||||||
|
| UNI - EN REPORT No | 105 | / | 2022 | |||||||
| Date of issue: | 2022-08-18 | ||||||||||
| Short name of the issuer | |||||||||||
| NOVATURAS AB | |||||||||||
| Subject | |||||||||||
| Novaturas group financials for 6M 2022: high fuel prices effected company' profitability | |||||||||||
| Official market - legal basis | |||||||||||
| art. 17. 1 MAR. | |||||||||||
| Unofficial market - legal basis | |||||||||||
| Contents of the report: | |||||||||||
| Novaturas group started 2022 with strong sales results. The income generated during the first half of 2022 surpassed both the results for the same period in 2021 and the pre-pandemic results in 2019. The company generated EUR 92M of income during the first half-year of 2022 and served 128K travelers throughout the entire group. However, rapidly increasing aviation fuel prices had a negative impact on profitability figures and therefore the EBITDA was negative and reached EUR 750K. “In order to manage the impact of increased aviation prices, we applied a fuel insurance strategy during the second quarter of this year, which proved to be effective - financial derivatives allowed us to generate EUR 103K of profit. Nevertheless, we did not insure the entire scheduled flight program and the aviation fuel prices continued growing significantly in the market”, says Vitalij Rakovski, head of “Novaturas” group. The management estimates that for this reason, the company group suffered approximately EUR 2.2M loss (24 euros per traveler on average). Having assessed the consequences of fuel price fluctuations and the highly inconsistent market, the company is planning to use financial derivatives to increase the insured fuel proportion and diversify the insurance instruments. The shorter trip booking period and fuel price fluctuation tax calculated in the travel package allow to assume that the impact of the aviation fuel price on profitability is short-term. Positive prospects for H2 Despite the increased fuel price, people continue to travel actively this year. One of the positive aspects is that clients once again prefer to book their trips earlier—the average period between booking and traveling date was one and a half months at the beginning of the year and has now grown to over two months and more. “At the beginning of the second half of the year, we served more travelers throughout the group than during the entirety of last year. Rapidly increasing traveler flows have caused air carriers and main airports to face operational challenges. Such circumstances highlighted the benefits of traveling with tour operator. Our extensive experience, expertise, and high level of employee professionalism allow us to maintain our position as an industry leader during a challenging period in the global aviation market as well as a strong competitive environment”, says CEO of the group. Regardless of the negative results for the first half of the year, fuel price is stabilizing, allowing the company to believe that the group will be able to obtain the primary operational and profitability goals during the remaining months of the year, assuming there are no significant changes in the economic environment. Financial results of 6M 2022: 6M 2022 6M 2021 6M 2020 Revenue 91 647 29 114 23,476 Gross profit 5,108 3,547 126 EBITDA -654 1,175 -650 Net profit -1,155 929 -1,891 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 Arūnas Žilys arunas.zilys@novaturas.lt +370 615 88259 | |||||||||||
| Annexes | |||||||||||
| File | Description | ||||||||||
| Novaturas Group FS 6M2022 EN.pdf Novaturas Group FS 6M2022 EN.pdf | |||||||||||
| Novaturas Group 6M 2022 Presentation.pdf Novaturas Group 6M 2022 Presentation.pdf | |||||||||||
| NOVATURAS AB | |||||||||||||
| (fullname of the issuer) | |||||||||||||
| NOVATURAS AB | Usługi inne (uin) | ||||||||||||
| (short name of the issuer) | (sector according to clasification of the WSE in Warsow) | ||||||||||||
| LT-44245 | Kowno | ||||||||||||
| (post code) | (city) | ||||||||||||
| A.Mickeviciaus | 27 | ||||||||||||
| (street) | (number) | ||||||||||||
| +370 37 321 264 | +370 37 321 130 | ||||||||||||
| (phone number) | (fax) | ||||||||||||
| (e-mail) | (web site) | ||||||||||||
| (NIP) | (REGON) | ||||||||||||
| SIGNATURE OF PERSONS REPRESENTING THE COMPANY | |||||
| Date | Name | Position / Function | Signature | ||
| 2022-08-18 | Arunas Zilys | CFO | |||
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