Navigator sparks 18% fall in Semapa profits to March

Paper and pulp company Semapa posted profits of €39.6 million for the first quarter of 2025 – a fall of 17.9% on the €48.2 million posted in March 2024.

The results were affected by a fall of 25.7% in the results of shareholder The Navigator Company. However, cement producer Secil saw its results increase by 31.7% thanks to Semapa shareholders and other businesses. (Triangle’s and ETSA. (+116.3%)

In a communiqué to the securities market regulator CMVM, the holding led by Ricardo Pires stated that the consolidated business turnover was €728.1 million, an increase of 1.8% like-for-like on 2024, with €529.3 million having been generated by the paper and paper paste company, €171.6 million from the cement company, and €27.4 million from other businesses.

Exports and overseas sales for the same period stood at €553.3 million, or 76% of business turnover.

“The increase in the group’s turnover was due to Secil, which saw a 5.2% increase due to the positive variation in the Tunisian and Lebanon markets, as well as in other businesses where the increase was 72.8%.

Navigator’s turnover, on the other hand, decreased by 1.3% due to the decrease in the volume of sales of printing and writing paper and the lower availability of pulp for the market as a result of the scheduled shutdown of the Aveiro mill, the note explains.