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Company Profile

Each year, Navigator’s nurseries give life to more than 12 million trees. These nurseries – the largest in Europe – produce 135 different species of plants and shrubs. Many of them, although not economically viable, are financed by the company to preserve biodiversity and ensure the continuity of species. The Group’s forestry business is vertically integrated, with its own forestry research institute. The Group is responsible for planting a vast forested area in Portugal (1.2% of the country’s land area), 100% certified by FSC® and PEFC™ systems.

The company is the third-largest exporter in Portugal, accounting for approximately 1% of the nation’s GDP and 2.4% of national goods exported, and generates the greatest National Added Value. In 2020, The Navigator Company’s turnover was €1,385 million, with more than 90% of the Group’s products sold outside of Portugal in approximately 130 different countries. The Navigator Company has taken on the formal commitment of achieving carbon neutrality at its industrial complexes by 2035, by reaching the targets laid out by the European Union and Portugal 15 years early.

*FSC – Forest Stewardship Council® (License FSC® – C010852)

** PEFC – Programme for the Endorsement of Forest Certification schemes (License PEFC/13-23-001)

Our businesses

  • I&D + i

    Aveiro and Espirra


    Forestry and Paper Research Institute

    Largest private European institute, and one of the biggest in the world, dedicated to R&D for the eucalyptus forest and its products (pulp, paper, tissue, biomass, by-products, etc.).

  • Forest

    107,370 ha**

    of forest with
    certified management
    in 161 municipalities

    12 million

    at the nurseries
    of Espirra,
    Caniceira and Ferreiras

    74 %


    11 %

    and Natura 2000
    Network areas
    (4,162 ha of classified habitats)

    15 %

    other forest species
    (pine, cork oak, etc.)


    species of


    species of

    **About 108 thousand hectares distributed for mainland Portugal, Azores and Galicia (Spain)

  • Pulp

    Setúbal, Figueira da Foz and Aveiro


    1,6 million tonnes*

    #1 European producer
    of bleached eucalyptus kraft pulp (BEKP)
    and #5 worldwide

    * Nominal capacity

  • UWF Paper

    Setúbal and Figueira da Foz

    1,6 million tonnes*

    #1 European producer of
    printing and writing paper (UWF/Uncoated Woodfree Paper)
    and #6 worldwide

    * Nominal capacity

  • Tissue Paper

    Vila Velha de Ródão and Aveiro

    130,000 tonnes*
    of finished product

    #3 Iberian producer, after five years
    of involvement in the sector

    * Nominal capacity

  • Project in development


    USD $130 million


    USD $6 million

    invested in
    social development,
    project since 2015

    13,500 ha


    12 million

    production capacity in Luá nursery

    1.7 million tonnes

    of CO2 captured

  • Energy

    2.5 TWh

    ~4% of electricity generation
    in Portugal

    52% of green energy produced
    from biomass in the country


  • € 1385
    #3 exporter
    ~1% of GDP
    of exported goods
    #1 in National Added Value

    € 286 Million


    € 233.5 Million

    Net debt/ebitda

    2.38 times





    EBITDA/Sales margin



    € 81 Million

    Net profit

    € 109 Million

    Dividends paid

    € 198 Million
  • No. of employees

    jobs(direct, indirect and induced)
    of suppliers(5,665)are Portuguese

Value generated and distributed


  • € 1,424 Million
    1,727 Million in 2019
  • Supplier expenses

    € 1,159 Million
    1,521 Million in 2019

    Payment of dividends

    € 198 Million
    218 Million in 2019
  • Employess: salaries and

    € 132 Million
    146 Million in 2019


    € 55.2 Million
    53 Million in 2019
  • Community investment

    € 1.7 Million
    1.8 Million in 2019

More and better forest

  • The forest is one of Navigator’s strategic cornerstones. 2020 will go down in history as the year in which an absolute record was achieved in reforestation, with the installation of 3,767 hectares. The company managed a total of 107,370 hectares of forest in Portugal (55% owned and the remainder leased), 899 fewer hectares than in 2019. The forest assets managed by the company have around 800 species and subspecies of flora and 241 species of fauna which are monitored regularly.

  • In addition, 4,162 hectares of these forests are classified as “protected” by the Natura 2000 Network. In June, The Navigator Company launched the platform Florestas.pt, with the technical and scientific coordination of the RAIZ – Forestry and Paper Research Institute. Its purpose is to be a centre of knowledge on Portuguese forests and related topics, offering official information and technical and scientific knowledge on the sector.

Mozambique progress

  • The year was marked by the launch of wood harvesting operations in the Manica province,also relevant for allowing a better understanding of the administrative and legal requirements needed to operate, and to evaluate and refine the performance of species planted. Portucel Moçambique strengthened its contacts with public decision-makers, in a year when a new government was inaugurated in the country.

  • Of particular note was the commitment assumed by the government and the construction consortium to move forward with building the first phase of the port of Macuze in Zambézia, an essential prerequisite for the Portucel project to be viable.The Social Development Programme implemented all of the activities scheduled for 2020, despite the challenges of the pandemic.

  • By distributing seeds, promoting beekeeping, building fish ponds, providing young goats for breeding and opening and repairing waterholes, Portucel Moçambique maintained its focus on food safety and income generation for families in the project’s surrounding communities.

Navigator in response to Covid-19

  • The COVID-19 pandemic has been a comprehensive test for The Navigator Company’s organisational skills, resilience and team spirit. In a year when the global health emergency completely changed the life of organisations and individuals, the Company took early, all-round action, with the protection of its Employees and Community as its absolute priority Navigator’s response to COVID-19 started as early as February 2020, even before the first state of emergency was declared in Portugal, which only happened in mid-March. The first step was to draw up and implement a contingency plan with new procedures and possibilities for responding to a range of scenarios.

  • The Contingency Plan set out some 80 measures, constantly adjusted to the evolving situation and designed to pool resources and respond to the organisation’s most pressing needs. In addition to exhaustive internal information on disinfection procedures and the provision of personal protective equipment, permanent medical and psychological helplines were set up, and another for human resources (for situations of sick leave and childcare), whilst the occupational health sector kept up a steady flow of helpful tips on how to cope with isolation and lockdown.

  • The response of everyone, without exception, to this challenge, and the way in which they were able to adapt to the difficulties that emerged, showed the fiber that people at The Navigator Company are made of.