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International Internet Magazine. Baltic States news & analytics Tuesday, 18.06.2019, 10:13

Novaturas raises 2017 revenue by 40%

BC, Vilnius, 14.02.2018.Print version
Novaturas, Lithuania's tour organizer operated by Enterprise Investors, one of the largest private equity firms in Central and Eastern Europe, posted 141.1 million euros in consolidated revenue in 2017, up by 40%, from 101.5 million euros, year-on-year, reports LETA/BNS.

The company's consolidated net profit increased by a factor of nearly two to 8.2 million euros, while earnings before interest, taxes, depreciation and amortization (EBITDA) also almost doubled to 10.6 million euros, Novaturas said in its 2017 report filed to the Center of Registers.

Novaturas' EBITDA margin grew by 2%age points to 7.5% last year from 2016.

On Wednesday, the travel organizer also announced plans of issuing up to 66% of its shares, with efforts to list them on the Nasdaq Vilnius stock exchange and the Warsaw stock exchange.

Central European Tour Operator, a Luxembourg-registered company owned by Enterprise Investors, holds a 70.72% stake in Novaturas. Businessmen Vidas Paliunas, Ugnius Radvila and Rytis Sumakaris each hold 9.76% in the company.

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