This presentation is intended to provide a general overview of The Navigator Company S.A.'s business and does not purport to deal with all aspects and details regarding The Navigator Company S.A..
This presentation has been prepared by The Navigator Company S.A. for information purposes only. Some statements in this presentation are forward-looking, based on assumptions and current expectations of future events. Although The Navigator Company, S.A. believes that these were reasonable when made, such statements are inherently subject to significant known and unknown risks and contingencies, which relate to factors that are beyond the ability of The Navigator Company, S.A. to control or estimate precisely, such as international economic conditions, foreign exchange fluctuations, credit markets, the cost of raw materials, legal and regulatory requirements, including measures adopted in connection with the prevention of the dissemination of SARS-CoV-2/COVID-19 and that could cause actual results to differ substantially from those expressed or implied by such statements.
Except as required by any applicable law or regulation, The Navigator Company S.A. or any of its affiliates, directors, officers, employees or advisers or any other person assumes no obligation whatsoever to update the information contained in this presentation or to notify a reader in the event that any matter stated herein changes or becomes inaccurate.
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P A R T I C I P A T I O N<<
Executive Directors
Investor Relations
António Redondo
Dorival Almeida
Fernando Araújo
João Lé
Nuno Santos
Ana Canha
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Q2/H1 2023 RESULTS
PRESENTATION
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Main
Market &
Group
Outlook
Highlights
Performance
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Q2/H1 2023 | SOLID RESULTS DESPITE
CHALLENGING MARKET CONDITIONS
Second best result for a first half: Extremely difficult market with pulp prices falling and UWF and Packaging market-driven weak apparent demand;
Tissue segment with strong demand for finished goods with price resilience and has successfully begun the process of Tissue Ejea integration;
Cash costs on a downward trend:
QoQ - Pulp and Paper cash costs down 9% to 12% and Tissue down 3%;
H1 23 vs H2 22 - Pulp and Paper average cash cost down 8% and 5% in Tissue.
EBITDA has reached € 253 million, margin of 25.8%, enabled by:
Product mix enrichment with paper and tissue prices still at high levels, and significant managed cash cost reduction;
Strong Capex plan - € 113 million in H1
Strong financial position - Net Debt/EBITDA ratio at 0.89x;
Sustainability commitment on all fronts
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Disclaimer
The Navigator Company SA published this content on 26 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2023 15:00:05 UTC.
The Navigator Company is a leading European producer of printing paper. Net sales break down by activity as follows:
- production of printing paper (73.5%): 1,518 Kt sold in 2022 (Navigator, Inacopia, Discovery, MultiOffice, Inacopia brands, etc.);
- production of eucalyptus pulps (8%): 255.3 Kt sold;
- sale of tissue papers (8%): 101.5 Kt sold;
- other (10.5%): mainly electricity generation from biomass and production of forest products.
Net sales are distributed geographically as follows: Portugal (17.4%), Europe (52.6%), Africa (11.6%), North America (9.3%), Asia (5.7%) and Latin America (3.4%).
THE NAVIGATOR COMPANY 
