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Fiven ASA: 3rd Quarter Results

EQS-News: Fiven ASA / Key word(s): Quarter Results
Fiven ASA: 3rd Quarter Results
21.11.2022 / 15:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Oslo, 21st November 2022 at 14:00 CET

Fiven ASA - Third Quarter Results 2022

  • The Q3 Total revenues reached EUR 45.0m representing an increase of 41.5% versus Q3 2021

  • The adjusted EBITDA was EUR 14.0m, versus EUR 7.2m in Q3 2021.

  • Higher market shares and inflationary market prices have offset a slow-down in global demand due to uncertainty in the economy

  • The EBITDA performance against last year's Q3 is also impacted by favorable appreciation of the BRL against the EUR

  • Both power and petroleum coke prices in Q3 have remained at high levels

  • Cash Flow from Operations reached EUR 16.4m compared with EUR 3.7m Q3 Last Year

  • The cash balance ended at EUR 33.3m, up from EUR 23.6m year end 2021

  • The September 30 leverage ratio stood at 0.94

Outlook

Despite an extremely uncertain geopolitical and macroeconomic environments, ongoing disruptions to energy supply in Europe, and further inflationary pressure that is expected to impact the business activity in the last quarter of 2022, Fiven remains well prepared to confront any temporary slowdowns thanks to its two-pillar strategy, lean organization, global geographic footprint, and diversified market exposure.

The management expects to fully leverage all momentum in its end markets and further deliver solid commercial performance.

Upcoming inflationary pressure on raw materials and energy requires firm price and cost discipline. The goal remains to provide sustainable solutions for today's and tomorrow's industries.

http://www.rns-pdf.londonstockexchange.com/rns/0945H_1-2022-11-21.pdf

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, Stein.E.Ommundsen@Fiven.com

Stefan Mokros, IR Manager
+49 221 6507 6097, stefan.mokros@fiven.com

This information is information that Fiven ASA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CET on 21 November 2022.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.


21.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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