Navigator rolls out €109 million in 2020
Portugal’s paper giant The Navigator Company raked in €109 million in profits and reduced its debt levels by €35 million last year.
The company which says it will start importing wood from Mozambique to meet its manufacturing needs, saw an increase is tissue production by 10% and wood pulp by 25%.
In Mozambique the company has one of the largest integrated forestry projects for the production of paper pulp and energy in the country.
“These results were achieved in a year of great adversity, the most difficult in the company’s history, marked by the strong effect of the pandemic on the demand for its products and a sharp fall in prices” states the company.
In 2020, The Navigator Company enjoyed a business turnover of €1.3Bn with paper sales representing 68% of the business turnover, pulp sales represented 11% and tissue sales 10%.
2020 was stood out for a marked fall in global writing quality paper consumption because of the pandemic, particularly in he second quarter, having seen some recovery in the third and fourth quarters, particularly in Europe.
Navigator is an integrated forest producer, whose end products are pulp & paper, tissue, and energy. Its operations are based at modern, large-scale industrial units that use state-of-the-art technology and are a benchmark for quality in the sector.
It is Portugal’s third largest exporter and also the largest national added value generator, accounting for approximately 1% of GDP, about 3%% of all Portuguese exports of goods and near 6% Portuguese containerised cargo.
Currently, Navigator’s total annual production capacity is near to 1.6 million tons of paper, 1.5 million tons of pulp each year, of which roughly 80% is integrated into paper production, 130 thousands of tissue and 2.5 TWh of electricity per annum.
Navigator’s products are shipped to approximately 130 countries on five continents, with emphasis on Europe and the USA, thereby achieving the widest international presence among Portuguese companies.
The Navigator Company is also a leading operator in the biomass energy sector with more than 50% of all power generated in Portugal from biomass, a renewable source of energy, produced by The Navigator Company. The company also generates 5% of all electricity in Portugal.