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Navigator Increases Profit To 64 Million And Takes Into Packaging – Industry

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Navigator's profit to fall to 23.5 million by March - industry

Navigator posted a net profit of 64.4 million euros in the first half of this year, which is 46.3% more than the 44 million recorded in the same period in 2020. From the first to the second quarter of 2021, the group’s profit increased. 74%, while compared to the second quarter of last year, the growth was 204.8%.

In a statement, Navigator emphasizes that in the first half of this year, “the paper market is improving with a gradual increase in volume”, despite the fact that “the selling price is still below the same period last year.”

The group’s total sales increased by 2.8% in the first half of the year to 714.7 million euros, with paper sales accounting for about 70% of the turnover (up from 67% a year ago).

The volume of sales of paper amounted to 700 thousand tons (an increase of 17%), pulp – 152 thousand tons (a decrease of 21%) and paper napkins – 52 thousand tons (at the same period last year).

The pulp and paper producer highlights “a positive trend in variable production costs (at constant volumes) of around 23 million euros for wood, energy and chemicals, mainly due to improved efficiency in terms of specific consumption.”

Also in terms of fixed costs, he refers to the continuation of the containment efforts begun in 2020, with a reduction in operating costs of 7 million euros compared to the first half of 2020, i.e. 15%.

Personnel and maintenance costs reversed, rising 14% and 15%, respectively, making total fixed costs 4% higher than fixed costs in the same period last year, he says.

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As a result, EBITDA grew by 7.4% to over € 150 million and a return on sales of 21.1%, “driven by increased paper volumes, pulp sales prices and savings in variable cost units,” the group explains.

Also, from the first to the second quarter of this year, the group notes an improvement: turnover increased by 10%, amounting to 374 million euros in the period from April to June. Compared to 2020, growth was 29%, “mainly due to a recovery in paper volumes and an increase in pulp prices,” he explains.

Financial results were 10.1 million, up 2.3 million over the same period last year.

In the first half of the year, Navigator invested 32.8 million euros, mainly in maintenance and environmental protection, compared to 48.7 million euros in the first half of 2020.

Net interest debt decreased to EUR 658.1 million.

Navigator launches packaging

In a statement announcing the results for the semester, the company, led by Antonio Redondo, says it has made a strong decision to move towards new packaging products, developing a new line of business.

The company explains that for several years now it has been developing packaging solutions, namely by producing packaging paper for its own products, as well as paper for making packaging bags and cardboard. Over the past 18 months, he adds, he has decided to move to new packaging products “in a fast-growing segment and in response to a perceived worldwide need to reduce the consumption of plastic, namely single-use plastic, to drive increased production. reducing ocean pollution “.

Therefore, Navigator decided to invest in safer and more hygienic packaging paper for the food industry without the risk of contamination from hazardous substances that can be found in recycled fiber, he explains.

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The company cites the fact that it has already applied for the first patent and first trademark, suggesting that it intends to expand into the flexible packaging, bag and kraft liner segments.

By the end of 2021, the company plans to sell a “significant” volume of packaging paper and expand its offer in 2022. The goal is to gradually increase production to around 200,000 tonnes in 2025/2026.

The investments envisaged in this first phase for the production of these products will range from 10 to 12 million euros per year in the coming years.

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Economy

House valuations fell by three euros, and the number of orders fell in three months | Frame

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House valuations fell by three euros, and the number of orders fell in three months |  Frame

The average value of the bank’s valuation in August was 1414 euros, which is three euros less than in the previous month, which indicates a slight slowdown in the value of houses in the context of new loans. This sign is accompanied by two other signs of slowdown, one is the year-on-year growth of 15.8%, down from the 16.1% recorded in June, and the other is the number of evaluation requests that have bounced back. the fall.

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Economy

The Lightyear 0 continues to break records and become the most aerodynamic car in the world…and it’s powered by solar energy.

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The Lightyear 0 continues to break records and become the most aerodynamic car in the world...and it's powered by solar energy.

The Lightyear 0 never ceases to amaze: in tests conducted in Germany under the WLTP homologation cycle, the electric car, which can also be powered by solar energy, scored 0.175, the lowest score of any production car in history. But this is not an absolute record.

Lighter assured that the result is surprising even for engineers who expected a value of about 0.19. Ario Van der Ham, the company’s technical director, admitted: “We are very proud of this result. We started from scratch when we began to study the machine and its technologies. We’ve put a lot of effort into this.”

The Lightyear 0 managed to beat the previous record set by the 1996 GM EV1, which was 0.19. For example, the two most aerodynamic cars sold today are the Mercedes EQS and Tesla Model S, with claimed values ​​of 0.20 and 0.208, respectively.

However, if we also take concept cars into account, the Lightyear 0 is not the most aerodynamic car – the Mercedes Vision EQXX, introduced this year, scored 0.17 points, while the JCB Dieselmax, a prototype built to set the speed record in category of diesel vehicles. , it had a coefficient of 0.147.

946 examples of the electric sedan were produced, just over 5 meters long, capable of covering almost 625 km on the WLTP cycle thanks to a 60 kWh battery, a 170 hp electric motor. and solar power, which on its own, according to the Dutch manufacturer, it can travel up to 70 km a day.

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With a base price of 250 to 300 thousand euros, this model is clearly beyond the reach of any budget. However, after 0, Lightyear is already working on a more affordable entry-level model, which has a list price of around 30,000 euros and is scheduled to launch in 2026.

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Economy

Wall Street lives West Side Story and closes in the red. Yield on debt close to 4% – Stock Exchange

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Wall Street lives West Side Story and closes in the red.  Yield on debt close to 4% - Stock Exchange

Wall Street ended the day in negative territory, wiping out the brief and cautious recovery seen early in the session led by tech companies.

The global monetary tightening movement and the possibility of a recession, marked by statements by several members of the US Federal Reserve (Fed), together with the turmoil in the UK markets, sent three major US indices into the red.

The industrial Dow Jones lost 0.93% to 29,313.26 points, while the S&P 500 fell 0.88% to 3,660.76 points. The Nasdaq Composite Technology Index fell 0.47% to 10,816.59. The “sale” that was felt at the end of last week continued this Monday.

Investors digested the Bank of England’s announcement that, hours after the pound’s fall to historic lows against the dollar, it assured that it “would be hesitant in changing interest rates.”

In turn, several members of the Fed uttered the words with a “hawkish” tone. The central bank president in Boston stressed the need to continue the path of tightening monetary policy to curb inflation.

Susan Collins also warned that the process would require the loss of some jobs. Atlanta Fed Chairman Rafael Bostic also warned that the central bank still has a long way to go to control inflation.

“This is like a West Side Story remake with a gang of central bankers chasing a job market that refuses to give up,” joked Mike Bailey, director of research at FBB Capital Partners, in an interview with Bloomberg.

For an expert”[Jerome] Powell E [Andrew] Bailey’s are trying to slow down the economy, but I feel that employers are trying to keep as many workers as possible. “So we are almost dealing with a fight between central banks and employers,” he added.

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In the debt market, US 10-year bond yields rose 21.3 basis points to 3.898%, very close to the 4% threshold last hit in 2010.

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