The Navigator Company, Results, 9M 2017

Page created: Tuesday, 31 October 2017 13:57GMT

Report:  26 October 2017 - 13 Page(s)
Tags:
Quarterly Earnings Report  Results  Results 2017  Results Q3  The Navigator Company

Highlights first 9 months 2017 (vs. first 9 months 2016):
 Paper volume hits new record level of 1 158 thousand tons (up 3 thousand tons), with average price still lower than last year
 Turnover up + 5% with strong performance in pulp, energy and tissue business:
− Pulp sales grow 32% in value, with volume and price both rising
− Power sales up 16%, reflecting successful operation of power generation assets
− Tissue sales grow by 11% in volume and value
 EBITDA of € 300 million in line with previous year and EBITDA/sales margin of 25% (vs. 26%)
 Progress on cost cutting programme, with estimated positive impact on EBITDA of € 18 million
 Net debt rises to € 742 million after pay-out of € 250 million (€ 0.3487/share)
and investment of € 75.7 million; Net Debt / EBITDA ratio of 1.9
 Financial costs slashed to – € 6.5 million (vs. – € 16.6 million), thanks to lower costs on borrowing operations and profits on currency hedges
 Net income grows 8.6% to € 145.8 million
 Development projects on new tissue plant in Cacia and capacity expansion at the Figueira da Foz pulp mill running on budget and on time



Original title:  Financial Results of the first nine month 2017

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