Portugal's Navigator third quarter profit falls 41% as pandemic hits demand
27/10/2020 18:23
LISBON, Oct 27 (Reuters) - Portugal's pulp and paper
producer Navigator NVGR.LS on Tuesday announced a 40.7% drop
in net profit in the third quarter to 31.2 million euros amid
the tumble in global demand caused by the coronavirus pandemic.
Navigator, which sells over 80% of its production in 130
countries outside Portugal on five continents, saw total sales
fall 17.1% to 348.4 million euros between July and September
this year.
In the third quarter of 2020, EBITDA - earnings before
interest, taxes, depreciation and amortisation - fell 24.6% to
70.4 million euros.
(By Sergio Goncalves, Editing by Victoria Waldersee, Editing by
Franklin Paul)
((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters
Messaging: sergio.goncalves.reuters.com@reuters.net))