Navigator's turnover for 2017 stood at Euro 1 637 million, up by 3.8%, sustained essentially by strong performance in sales of pulp, power and tissue, as the company said in the press release received by Lesprom Network.
FY 2017 EBITDA totalled Euro 403.8 million, almost 2% up on the figure recorded in the previous year, reflecting an EBITDA/Sales margin of 24.7%.
Pre-tax income amounted to Euro 247.4 million, compared with Euro 209.6 million in the previous year, a very positive comparison due to the impairment recognition in 2016 of Euro 48.9 million, related to Mozambique.
4Q 2017 turnover stood at Euro 427 million, representing an increase of 1.2% in relation to the same period in the previous year and reflecting the gradual improvement in market conditions over the course of 2017, in particular with regard to the paper price. It is important to point out that these two quarters are difficult to compare, insofar as operational performance at sales level in the 4Q 2016 was exceptional, and was the Group's best ever quarter.
EBITDA for the 4Q 2017 stood at Euro 103.8 million, as compared to a figure of Euro 95.9 million in the same quarter in 2016. In 2017, EBITDA was negatively affected by the impact of forest fires, bringing down the total by Euro 4.8 million in the final quarter.
Financial results improved to a loss of Euro 1.2 million, as compared to a loss of Euro 4.2 million in the 4Q 2016, reflecting gains of Euro 2.9 million on currency hedge operations. As a result, net income totalled Euro 61.9 million, down from the figure of Euro 83.2 million recorded in the last quarter of 2016.
The Navigator Company is Europe’s largest producer of uncoated wood-free paper.
