Navigator grows 27% in the tissue segment in the first half of 2025

The Navigator Company has released its results for the first half of 2025, highlighting the strong performance of its diversified business areas. Despite an overall drop in total revenue, which reached €1.019 billion, a 4.4% decrease compared to the same period in 2024, the tissue segment posted significant growth, up 27% in the period.

According to the company, the strong performance of the tissue segment, along with growth in the packaging sector, led both segments to represent nearly 30% of Navigator’s total revenue. This diversification has helped reduce the company’s dependence on the uncoated woodfree paper (UWF) market, traditionally its core business.

Consolidated EBITDA reached €216 million, with a margin of 21.2%, while net profit totaled €85 million, a 46% drop compared to the first half of 2024. Still, Navigator highlighted its operational resilience and increased market share, with global order volumes up 3 percentage points and European market share rising 2 percentage points.

The company also noted that total investment in the period reached €94 million, with approximately 60% allocated to environmental and sustainability projects aligned with its decarbonization and energy transition goals for the coming years.

With these results, Navigator reinforces its strategy of strengthening high-growth segments such as tissue and packaging, while maintaining a focus on efficiency and sustainability.

TISSUE EXPANDS AND GAINS INTERNATIONAL SCALE WITH BROADENED CUSTOMER BASE

In the first six months of the year, Navigator’s tissue sales volume (finished products and jumbo rolls) reached 119 thousand tons, a 27% increase over the same period last year, while sales revenue grew 35% compared to the first half of 2024.

According to the company, this growth was driven by the integration of Navigator Tissue UK, acquired in May 2024, which boosted sales and expanded the customer base.

International sales in the tissue segment accounted for 81% of total volume in the semester (compared to 54% in 2022, before the integration of Tissue Ejea and Tissue UK). The most significant markets were the United Kingdom (36% of total sales), Spain (29%), and France (14%).

Finished products represented 98% of sales, while jumbo rolls accounted for the remaining 2%. In terms of customer segments, the At Home or Consumer (retail) segment has been gaining ground and currently accounts for about 83% of sales, while the Away from Home (institutional) segment represents the remaining 17%.

Private label brands grew by 20% from January to June 2025, compared to the same period last year, supported by a diversified customer base and innovative products.