Q1 2021

Results Presentation

June 1st 2021

DISCLAIMER

This presentation is intended to provide a general overview of The Navigator Company S.A.'s business and does not purport to deal with all aspects and details regarding The Navigator Company S.A..

This presentation has been prepared by The Navigator Company S.A. for information purposes only. Some statements in this presentation are forward-looking, based on assumptions and current expectations of future events. Although The Navigator Company, S.A. believes that these were reasonable when made, such statements are inherently subject to significant known and unknown risks and contingencies, which relate to factors that are beyond the ability of The Navigator Company, S.A. to control or estimate precisely, such as international economic conditions, foreign exchange fluctuations, credit markets, the cost of raw materials, legal and regulatory requirements, including measures adopted in connection with the prevention of the dissemination of SARS-CoV-2/COVID-19 and that could cause actual results to differ substantially from those expressed or implied by such statements.

Except as required by any applicable law or regulation, The Navigator Company S.A. or any of its affiliates, directors, officers, employees or advisers or any other person assumes no obligation whatsoever to update the information contained in this presentation or to notify a reader in the event that any matter stated herein changes or becomes inaccurate.

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PARTICIPATION<<

António Redondo

Adriano Silveira

Executive Directors

Fernando Araújo

João Lé

Nuno Santos

Investor Relations

Joana Appleton

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Q1 2021 RESULTS PRESENTATION

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01 02 03

Main

Market &

Group

Outlook

Highlights

Performance

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Q1 2021 IN LINE WITH Q4 2020

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STABLE PERFORMANCE

  • With the new lockdowns implemented in Q1, paper demand evolved in line with Q4 2020; market pulp conditions improved significantly with prices in China increasing 46% (+35% in Europe in Euros);
  • Navigator concentrated larger maintenance stoppages during Q1, for both pulp and paper mills, impacting output of pulp, paper and energy;
  • With very low stocks levels of pulp and paper, sales volumes for paper decreased to 336 ktons (-2% QoQ; -8% YoY) while pulp sales registered a reduction to 79 ktons (-19% QoQ; -5% YoY); tissue volumes remained positive with sales increasing to 27 ktons (+1% QoQ; +4% YoY);
  • Turnover stable vs previous quarter, at € 341 million, reflecting a 16% YoY reduction, explained by the lower pulp and paper volumes and paper price evolution - A4-Bcopy index declined 6.4% YoY;
  • EBITDA totaling € 71 million (-6% QoQ; -20% YoY) with a relevant 16% quarterly reduction on fixed costs; EBITDA/Sales margin reached 21%;
  • Strong FCF generation of € 56 million vs € 15 million in Q1 2020, and last 12 months FCF was € 275 million (highest figure since 2013). Significant reduction of Net Debt to € 624 million (vs € 800 million in Q1 2020), which allowed a comfortable Net Debt/ EBITDA ratio of 2.33X;
  • After a wide ranging stakeholder assessment, Navigator launched a new Sustainability agenda for 2030, aimed at Creating Value in a Sustainable Way.

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The Navigator Company SA published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 16:42:05 UTC.