Navigator profits up 137% to €270M

The Portuguese paper-making giant Navigator registered a growth of 63% in sales for the first nine months of the year, to €1.8Bn, boosted by the increase in the price of paper pulp.

The net results for the period totalled €270.5 million, an increase of €136.7%. In the third quarter, the company registered a fall in its operational result on the three previous months due to an increase in production costs, namely energy.
The third quarter brought new increases in the price of paper pulp, which achieved historic records. The benchmark index increased 20% in US dollars on the previous quarter and 41% in euros in relation to the same period last year. Compared to the three previous months it registered an increase of 9% in dollars and 16% in euros.
“Leveraged by the prices index for paper pulp and the general increase in energy costs, logistics, and raw materials, as well as the persistent imbalance in offer-demand”, the paper prices index has also risen” states Navigator in a communiqué. The variation was 52% on the like-for-like period and 7% on the year before.
The volume of sales fell in the two main segments. In the case of paper, the fall was 2% on the previous quarter, and five per cent on 2021. Pulp paste fell 26% MoM and 3% like-for-like on 2022.
In terms of paper tissue, the turnover in sales increased on the first quarter (8%) on 2021 (3%). The increase in prices are than compensated for the fall in volume turnover, with sales up 4.7% MoM in the third quarter and 68% like for-like on 2021.