IBERIAN
FORUM
ODDO BHF
O C T O B E R 2 0 2 4
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BIOINDUSTRY ON THE RIGHT SIDE OF
THE FUTURE
01-Solid & Resilient Business Model
02-Paper l Pulp l Energy & Tissue
03-New Business Opportunities
04-Sustainability at the Core
05-Financial Performance
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BIOINDUSTRY ON THE RIGHT SIDE
OF THE FUTURE
O U R P U R P O S E
Innovation | By expanding our knowledge and creative potential, together we can achieve |
the impossible | |
PEOPLE, THEIR
QUALITY OF LIFE, AND THE PLANET'S FUTURE ARE WHAT INSPIRE AND MOVE US
Sustainability
Entrepreneurship
Excellence
Integrity
The balance between the Economic, Environmental and Social pillars of Sustainability is the foundation of our business model
We are passionate about what we do, we like to get out of our comfort zone, we have the courage to take decisions and to accept risks in a responsible way
We believe in quality, efficiency, safety and rigor in everything we do
We are guided by principles of transparency, ethics and respect in our relationships among ourselves and with others
Trust | We believe in people, we accept everyone's contribution, and we respect their |
identity. We are committed to development, cooperation and communication | |
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THE NAVIGATOR COMPANY
Solid Core. Increasingly diversified
- B I O I N D U S T R Y O N T H E R I G H T S I D E O F T H E F U T U R E
Forest
Bioenergy | Pulp |
Integrated
Producer
PackagingPaper
Tissue
Source: NVG Report 2023
An integrated producer of forestry, pulp, paper, tissue, sustainable packaging solutions and bioenergy, based on unique raw material (Eucalyptus Globulus), continuous R&D and state-of-the-art factories worldwide.
Production capacity of 1.6 Mt of pulp, 1.6 Mt of paper, 165.000 t of tissue per year (310.000 t converting), and 381 MW of installed power
for energy production.
The Group has a vertically integrated forestry business, with its own forestry research institute, and is responsible for planting a vast area of forest in mainland Portugal (1.2% of the country's area), 100% certified by the FSC® and PEFC systems.
More than 90% of Navigator's sales of goods are sold to 130 countries, across all 5 continents.
Navigator is a bioindustry on the right side of the future, when it leads the research and industrialization of a new generation of forest- based bioproducts, but also when takes care of its impacts.
Navigator was one of the 1st companies in the world, to make an ambitious commitment to decarbonize its industrial complexes, anticipating national and European targets by 15 years.
The investment allocated to its Decarbonization Roadmap amounts to 340 million euros, to be implemented between 2019 and 2028, 89% of which has already been or is in the process of being implemented.
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THE NAVIGATOR COMPANY
An integrated producer of forest-based bioproducts
R & D
Leader in Eucalyptus
globulus cloning
T I S S U E
#1 Portugal, #2 Iberia, #4 Consumer Tissue in UK
165 Kt Reels
310 Kt Converting *
55 | 5 | ||
65 | 60 | 130 | |
70 | |||
60 | 35 | kt | |
P A P E R
Energy 9% | Packaging 2% |
(vs. 4%) | |
(vs. 10%) | |
Tissue 15% (vs. 8%)
€1,953M | |
(vs. 8%) | Turnover |
2023 | |
Pulp 13% |
F O R E S T
109,086 ha of forest under management 4
356 Kha Land Use Rights in Mozambique
P U L P
#1 Europe, #7 World
1.6 Mt of BEKP pulp
6681 | |||||
5751 | |||||
3652 | |||||
k tAD | |||||
E N E R G Y
#1 Europe, #6 World
1.6 Mt of UWF paper
Paper 61% | 1.4 TWh of electricity 3 |
(vs. 70%) | (76% renewable) |
100 | Packaging | 698 | |||||||||||||||||||
484 | |||||||||||||||||||||
800 | 700 | kt | 5 | GWh | 254 | ||||||||||||||||
Figueira da Foz | Setúbal | Aveiro | Vila Velha de Rodão | Zaragoza | United Kingdom | ||||||||||||||||
6 | |||||||||||||||||||||
*total nominal capacity (included Wet Wipes - 10kt) l 1 Integrated l 2 Market l 3 2023 Net electricity generation l 4 Forest in Portugal and Spain l 5 Tissue UK acquisition effective - May 24, 2024
AGILE BUSINESS MODEL
Proving Resilience in a Cyclical Market
Navigator stability and consistency in delivering results:
- operational flexibility;
- resilient business model, anchored in a solid diversification strategy, with differentiated products and a focus on the premium segment and own brands;
- responsible price and margin management.
EBITDA (M€) & EBITDA margin (%) | 736 | EBITDA Margin (Last 14 years): |
455 | 502 | |||||||||||||||||||||||||||||
400 | 390 | 397 | ||||||||||||||||||||||||||||
385 | 385 | 350 | 404 | 372 | 355 | |||||||||||||||||||||||||
328 | ||||||||||||||||||||||||||||||
29% 26% 26% 23% 21% 24% 25% 25% 27% | 286 | 30% | 26% | |||||||||||||||||||||||||||
22% 21% 22% | ||||||||||||||||||||||||||||||
- Average: 24.8%
- Std: 2.8%
- Min: 21%
- Max: 30%
2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Source: NVG Report 2023
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WITH THE FOREST
AT THE HEART OF EVERYTHING WE DO
A Natural and Renewable Resource
6.2 Million t CO2 eq
- 8 Million
Plants produced
at Portuguese
Nurseries
1,057 Species of
Flora 253 Species of
Fauna
RAIZ
109,086 ha
9.6 Million
Forest and Paper Research Institute Improve forestry management
Increase eucalyptus Yields
EUCALYPTUS GLOBULUS wood differentiates from other eucalyptus or hardwood species given the quality of its (short) fibers, providing higher thickness, specific
Forest under | Investment in forest |
management in Portugal | fires protection 2 |
and Spain 1 |
volume, opacity and drying capacity. Due to its morphology, Eucalyptus allows 2-6 more recycling cycles compared to other paper fibers
Source: NVG Report 2023 | 8 |
1 In addition, around 14,000 hectares in Mozambique l 2 Included investment in some land preparation operations in afforestation and reforestation
WORLD CLASS 10 PRODUCTION UNITS
Based in 3 countries, with state-of-the-art technology Goods sold to 130 countries, across all 5 continents
ZARAGOZA
- Tissue - 35,000 t reels 60,000 t converting 1
- Energy - 5 MWp
AVEIRO
- Pulp (Market) - 365,000 tAD
- Tissue - 70,000 t reels 55,000 t converting 1
- Energy - 47 MW
FIGUEIRA DA FOZ
- Pulp (Integrated) - 668,000 tAD
- Paper - 800,000 t
- Energy - 165 MW
SETÚBAL
- Pulp (Integrated) - 575,000 tAD
- Paper - 700,000 t
- Packaging - 100,000 t
- Energy - 164 MW
1 total nominal capacity l 2 Tissue UK acquisition effective - May 24, 2024
3,927 EMPLOYEES
38 Nationalities
2 1
4
3
5
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With global capacity of:
- 1.6 Mt of Paper
- 1.6 Mt of Pulp
- 165 kt of Tissue Reels
- 310 kt of Tissue Converting
- 381 MW of Energy
TISSUE UK 2
- 1:LEYLAND - 34,000 t converting 1
- 2:BLACKBURN - 50,500 t converting 1
- 3:LEICESTER - 38,000 t converting 1
- 4:FLINT - 5,000 t converting 1
- 5:BRIDGEWATER - 3,500 t converting 1
VILA VELHA DE RÓDÃO
- Tissue - 60,000 t reels 65,000 t converting 1
A BIOINDUSTRY
ON THE RIGHT SIDE OF THE FUTURE
1st place in the Sustainalytics ESG Ranking - Paper & Forestry and Paper & Pulp
- Sustainalytics' ESG Risk Rating 2024: Navigator at the top of the Paper & Forestry and Paper & Pulp clusters, on the lower fringe of the "low" risk level, with the vast majority of material topics presenting negligible risk.
1/85 | 1/63 | TOP 5% |
in 16,216 | ||
companies | ||
PAPER & | PAPER & | GLOBAL |
FORESTRY | PULP | UNIVERSE |
This result demonstrates the Company's capacity to anticipate and
manage ESG risks in its business
Navigator
NEGL | LOW | MED | HIGH | SEVERE |
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Source: NVG Results 2Q 2024
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