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Company profile

The Navigator Company is an integrated producer of forestry, pulp, paper, tissue, sustainable packaging solutions, and bioenergy, and its operations are supported by cutting-edge technology at its state-of-the-art mills around the world. It is acknowledged as a benchmark for quality in the sector worldwide. Its pulp and paper production are founded on the use of forests planted exclusively for this purpose.

The Navigator Company conducts vertically integrated forestry operations through its own Forestry Research Institute and is responsible for planting vast areas of forest in mainland Portugal (1.2% of the country's area), which are 100% certified by FSC®* and PEFC™** systems. The Company is the third largest exporter in Portugal and the largest generator of National Added Value, representing approximately 1% of national GDP, around 3% of national exported goods, and more than thirty thousand direct, indirect, and generated jobs. In 2021, The Navigator Company had a turnover of €1.596 billion. More than 90% of the Group's products are sold outside Portugal and are shipped to approximately 130 countries. The Company has formally committed to achieving carbon neutrality in its industrial complexes by 2035, 15 years ahead of the targets set by the European Union and Portugal.

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

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

Our businesses

  • I&D + i

    Aveiro and Espirra


    RAIZ - 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-produtos, etc.).

    93 employees

    8 patents submitted in 2021

  • Forestry

    104 673 ha**

    of forest with
    in 166 municipalities

    12 million

    at the nurseries in
    Caniceira and Ferreiras

    73 %


    11,8 %

    and Natura 2000 Network areas
    (4 075 ha of classified habitats)

    16.3 %

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


    of fauna


    of flora

    5,9 millions tCO2 sequestered

    * 105.274 ha, including Galiza (Spain)

  • Pulp

    Setúbal, Figueira da Foz and Aveiro

    1,6 million tonnes**

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

    ** Nominal Capacity

  • UWF Paper

    Setúbal and Figueira da Foz

    1,6 million tonnes**

    1st European producer of printing

    and writing paper (UWF/Uncoated Woodfree Paper)

    and 6th worldwide

    ** Nominal Capacity

  • Tissue Paper

    Vila Velha de Ródão and Aveiro

    130 000 tonnes**
    of finished products

    1st Portuguese producer and 3rd Iberian

    ** Nominal Capacity

  • Project in development


    USD $125 million


    USD $6 million

    invested in
    social development,
    project since 2015

    13 500 ha


    90 000 m3 of own wood harvested

    in 2021, for export

    1.7 million tonnes

    and CO2 captured

  • Energy

    1,74 TWh

    77% of renewable energy

    €135 million in sales

    35% of the electricity produced from biomass, in the country


  • € 1596
    3rd exporter
    ~1% of GDP
    of exported goods
    1st in National Added Value

    € 355 Million

    Free Cash flow

    € 235 Million

    Net debt/ebitda

    1,68 times





    EBITDA/ sales margin



    € 80 Million

    net profit

    € 171 Million

    dividends paid

    € 150 Million
  • N.º of employees

    3 150
    jobs(direct, indirect and induced)
    of suppliers(7 172)are Portuguese


  • € 1 627 Million
    1 424 Million in 2020
  • Supplier expenses

    € 1 382 Million
    1 159 Million in 2020

    Payment of dividends

    € 150 Million
    132 Million in 2020
  • Employees: Salaries
    and Benefits

    € 155 Million
    132 Million in 2020


    € 90 Million
    56 Million in 2020
  • Community Investments

    € 1,65 Million
    1,7 Million in 2020

SBTi: a commitment to reducing GHG emissions

In 2021, The Navigator Company completed its greenhouse gas (GHG) inventory, a process that culminated in joining the Science Based Targets initiative (SBTi) at the end of the year. Contrary to what is common, the Company waived the two-year period that companies have to submit their commitments, having immediately submitted their GHG emission reduction targets for validation, based on the most current climate science.

Science Based Targets, created in 2015, is an organization that integrates the CDP, the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature, with the aim of mobilizing the private sector to assume a leadership role in urgent action on climate change.

The importance of the forest for the Green Deal

Within the scope of the Recovery and Resilience Plan (RRP), with a view to contributing to the climate transition (Green Deal), Navigator is part of the consortium that presented, in 2021, the application “From Fossil To Forest” to the Mobilizing Agendas for Business Innovation.

This represents a historic milestone in the development of solutions originating in the forestry space, namely more linked to raw materials from eucalyptus and pine, improvement of manufacturing processes for wood processing, and identification of new products used in the circularity aspect. The objectives of the company's agenda are based, above all, on the production of cellulosic-based packaging to replace plastic and new biocomposites.

With the competitive advantage that forest-based products can be a viable alternative to materials of fossil origin, such as plastic, Navigator launched, in 2021, the gKRAFT paper range, with the aim of strengthening the packaging market, currently in transition to more sustainable solutions.