The Navigator Company S.A

Latest Results (08.10.2025):

The Navigator Company S.A. has reported its financial results for the second quarter of 2025, showcasing strong performance and continued leadership in the industry. The company maintained robust profitability, enhanced its market position, and sustained healthy cash flow generation amidst a volatile market environment.

Unmatched Profitability

The Navigator Company S.A. achieved an EBITDA margin of 25% in H1 2025, significantly outperforming industry benchmarks. This margin is approximately 65% above the average of the Tissue peer group and double that of the UWF peer group, highlighting the company's exceptional cost management and operational efficiency.

Leadership in Pulp Production

The company reinforced its position as the leading producer of UWF and EUCA pulp in Europe, ranking #1 in Europe and #6 globally. With a turnover of €2.465 billion in 2024, The Navigator continues to dominate the market through its vertically integrated model and strategic focus on premium products.

Strong Cash Flow Generation

The Navigator Company S.A. reported strong cash flow generation, enabling significant investments in modernizing assets, maintaining production capacity, and advancing sustainability projects. In 2024, the company generated €455 million in cash flow, supporting continued growth and operational improvements.

Strategic Business Growth

Over the past eight years, The Navigator has expanded strategically into new business areas, driving a revenue increase of over €450 million and an EBITDA growth of €140 million. The company's diversification into Tissue and Packaging segments now accounts for approximately 30% of sales in H1 2025, reducing dependence on UWF from 75% to 57%.

Sustainability and Innovation

The Navigator Company S.A. continues to lead in sustainability with 34% biomass-based energy and significant investments in ESG projects. The company has also expanded its Tissue business internationally, achieving an 8.2x sales growth over ten years and maintaining a strong focus on innovation and quality.