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Fiven ASA: Fourth Quarter Results 2022

EQS-News: Fiven ASA / Key word(s): Quarter Results
Fiven ASA: Fourth Quarter Results 2022
27.02.2023 / 11:20 CET/CEST
The issuer is solely responsible for the content of this announcement.


Oslo, 27th February 2023 at 10:00 CET

Fiven ASA  - Fourth Quarter Results 2022

  • The Q4 Total revenues reached EUR 46.3m representing an increase of 24.8% versus Q4 2021 and a sequential improvement of 2.9% versus Q3 2022

  • The adjusted EBITDA was EUR 20.3m, versus EUR 7.0m in Q4 2021

  • The EBITDA improvement compared to Q4 2021 shows the effects of strong progress in the sales of standard products and a growing share of specialty product sales

  • The quarterly performance was also positively impacted by sales of excess power for 2022 (EUR 5.9m) and from net inventory provision release (EUR 3.5m)

  • Both power and petroleum coke prices in Q4 have remained at historically high levels

  • Cash Flow from Operations reached EUR 19.9m compared with EUR 7.4m Q4 Last Year

  • The cash balance ended at EUR 18.9m, down from EUR 23.6m year end 2021 after a EUR 29.3m one-off cash distribution including fees agreed with bondholders

  • The December 31 leverage ratio stood at 1.0

  • For the full year the valuation of hedged power contracts in Norway is based on a fair value assessment under IFRS 9 Financial Instruments, and comparative numbers for full year 2021 have been restated as per requirements in IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors.

Fiven's strategy, which focuses on developing customized products to accelerate growth in a fast-growing market and remaining the most sustainable player within core applications, has consistently translated into outstanding financial results, demonstrating the effectiveness of this approach.

Fiven's agile management strategy allows the company to respond effectively to the dynamic market conditions and geopolitical landscape while maintaining a steadfast commitment to delivering high-quality products and meeting customer demands.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481,

Stefan Mokros, IR Manager
+49 221 6507 6097,

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 10:00 CET on 27 February 2023.

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 or visit

27.02.2023 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.

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