„Novaturas“ received consolidated revenues of 69.8 million euros in the first six months of this year – 5.8% less than at the same time last year, its net loss amounted to 7.9 million euros – 10 times more (0.8 million euros), and the loss before interest, taxes, depreciation, and amortization (EBITDA) was 5.6 million euros, „Novaturas“ announced via the Nasdaq Vilnius stock exchange.
Read more „Merck“ and „Moderna“ announce promising skin cancer vaccine results
According to „Novaturas“, its results were significantly affected by the enforcement of the Court of Appeal’s decision in the dispute with „GetJet Airlines“.
„Excluding this one-time impact, the group’s adjusted EBITDA loss was 2.1 million euros,“ says „Novaturas“.
As BNS reported, at the end of June the Court of Appeal partially granted „GetJet Airlines“’ claim – awarding it an additional 4.5 million euros in penalties and 8% annual interest calculated from March 5, 2021, but since the company had already paid part of the money earlier, the amount now payable is 3.35 million euros – which „Novaturas“ is asking the court to allow to be paid in installments.
As „Novaturas“ announces, due to the incurred loss, the group’s equity was negative at the end of June and amounted to minus 1.6 million euros, compared to 7.2 million euros a year ago.
As stated in the announcement, in June shareholders decided to increase the share capital by issuing a new share issue, and in July it was increased from 234.2 thousand to 543 thousand euros. The effect of the increase will be reflected in the equity position of the company and the group in later periods.
In the first half of the year, the group served 74 thousand travelers, and the average aircraft occupancy in the Baltic countries was 96.7%.
