The Navigator Company's 1Q 2017 turnover grew by 2.1% to Euro 392.7 million, thanks to strong operational performance in sales pulp, tissue and energy, while the paper business also recorded higher-than-expected sales, as the company said in the press release received by Lesprom Network.
1Q 2017 EBITDA totalled Euro 90.2 million, slightly down on the figure recorded in the previous year, reflecting an EBITDA/Sales margin of 23%.
The Group recorded a financial loss for the 1Q of Euro 3.9 million, as compared with a loss of Euro 2.7 million in the 1Q 2016. This performance was due essentially to exchange rate losses of Euro 1.5 million, compared to a positive balance of Euro 1 million recorded in the same period last year.
Net income for the 1Q 2017 totalled Euro 35.6 million, compared to net income of Euro 44.7 million in the 1Q 2016, which had benefited from an effective corporation tax rate of 16.88%, brought down by contractual tax benefits which no longer apply. As a result, the effective tax rate in the period returned to 27.5%.
The Navigator Company is Europe’s largest producer of uncoated wood-free paper.
