The Navigator Company's 1H 2017 turnover increased by 4.4%, to Euro 812.6 million, sustained essentially by strong performance in sales of pulp, power and tissue, as the company said in the press release received by Lesprom Network.
EBITDA totalled Euro 198.4 million, 1.6% up on the figure recorded in the previous year, and reflecting an EBITDA/Sales margin of 24.4%. Net income totalled Euro 96 million, as compared Euro 85.5 million recorded in the first half of 2016.
2Q 2017 performance reflected improving market conditions over the first months of the year. Turnover grew by 7% in comparison with the previous quarter, due essentially to the increased volume of paper sales (+7.9%), and strong performance in pulp business, where the sales volume was up by 1.8%, accompanied by a rise of 11.5% in the BHKP benchmark price index (in euros).
As a result, 2Q EBITDA stood at Euro 108.2 million, representing an increase of 20%, whilst the EBITDA/Sales margin improved by 2.8 pp, to 25.8%. EBIT totalled Euro 71.4 million, as against Euro 52 million in the first half.
Net income of Euro 70 million recorded in the 2Q 2017 compares very favourably with Euro 35.6 million in the 1Q, benefiting from a lower effective tax rate, due to adjustments made related to overestimated taxes in 2016.
The Navigator Company is Europe’s largest producer of uncoated wood-free paper.
