The Navigator Company recorded a net annual income of €171m in 2021, an improvement of 57% compared to 2020, according to data made public by the company yesterday. Turnover increased by 15%, to €1.596m
Navigator ended 2021 with an EBITDA of €355m and an EBITDA/sales margin of 22.2% (vs. €286m and a 20.6% margin in 2020), benefiting from the growth in paper volumes and higher prices in paper, pulp and tissue. The Group displayed a strong Free Cash Flow generation of €235m, in line with the €234m in 2020.
Net debt was down by €85m to €595m, after Navigator distributed dividends of €100m in the first half and, and then an interim dividend (relating to 2021) of €50m in December, keeping the Net Debt/EBITDA ratio at a comfortable level of 1.68x.
Representing approximately one per cent of the national GDP, Navigator plays a fundamental role in the Portuguese economy. In addition to generating more than 30,000 direct, indirect and induced jobs, the company is the third largest exporter in the country and the largest creator of National Added Value, as a result of high local incorporation: most of its approximately 7,000 suppliers are Portuguese. Navigator accounts for around 2.4% of national exports of goods.
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