The Q1 2025 brought a rapid worsening of geopolitical uncertainties and growing trade tensions, resulting in an upsurge in protectionism and significant cooling of the economy in Navigator’s main markets.
Despite this troubled environment, Navigator’s business pointed to a positive trend in relation to the previous quarter, with increased sales and healthy order books for Printing and Writing paper, Packaging and Tissue paper. The quarter also saw a rise in the benchmark index for pulp prices, while Packaging and Tissue paper prices remained resilient, in contrast to the drop in the benchmark index for Printing and Writing paper.
Turnover stood at Euro 529 million, up 2% on Q4 2024, down by 1% on Q1 2024.
EBITDA totalled Euro 116 million (in line with Q4 2024 and down 13% on Q1 2024), with an EBITDA margin of 22% (down 0.4 pp on Q4 2024 and down 3.0 pp on Q1 2024).
Navigator has pressed ahead with moves to strengthen its competitive advantages and to invest in diversification of its business. Navigator ended the quarter with the Printing and Writing paper segment representing a lower proportion of turnover, at 55% (vs. 57% in 2024), while the new segments - Tissue and Packaging - already account for close to 30% (up from 26% in 2024).
The Navigator Company is an integrated producer of forest, pulp, paper, tissue, sustainable packaging solutions, and bioenergy, whose business is founded on state-of-the-art factories on a worldwide scale, with cutting-edge technology.
