UK markets open in 45 minutes
  • NIKKEI 225

    27,821.76
    -462.16 (-1.63%)
     
  • HANG SENG

    23,307.76
    -544.48 (-2.28%)
     
  • CRUDE OIL

    68.02
    -1.93 (-2.76%)
     
  • GOLD FUTURES

    1,793.30
    +8.10 (+0.45%)
     
  • DOW

    35,135.94
    +236.60 (+0.68%)
     
  • BTC-GBP

    42,540.52
    -899.78 (-2.07%)
     
  • CMC Crypto 200

    1,431.96
    +3.03 (+0.21%)
     
  • ^IXIC

    15,782.83
    +291.18 (+1.88%)
     
  • ^FTAS

    4,057.63
    +37.25 (+0.93%)
     

Fiven ASA third quarter report 2021

·2-min read

DGAP-News: Fiven ASA / Key word(s): 9 Month figures
26.11.2021 / 11:00
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Oslo, 25th November 2021 at 16:30 CET

Fiven ASA third quarter report 2021

- Total revenues reported at EUR 31.8m, representing an increase of 51.9% versus Q3 2020 being significantly penalized by the Covid-19 crises.

- The revenues continue to rise, and the sequential growth represents an improvement of 5.1% over Q2 2021.

- The adjusted EBITDA was EUR 7.2m, versus EUR 4.5m in Q3 2020.

- The adjusted EBITDA margin was 22.7%, up from 21.4% in Q3 2020.

- Last twelve months revenues at Q3 2021 showed EUR 114.2m, and adjusted EBITDA was EUR 22.2m.

- The adjusted EBITDA performance in Q3 2020 was the lowest of the last year resulting from the pandemic outbreak.

- The Quarter-on-Quarter improvement current year is mainly volume-driven. The rapidly increasing raw material and power costs exceed price adjustments.

- The cash balance ended at EUR 19.5m, down from EUR 89.8m at Q2 end. EUR 71.2m of the reduction can be attributed to the completion of Fiven's refinancing.

- The September 30 leverage ratio ended at 2.80.

- Fiven order intake outperforms pre-pandemic levels, and the order book has increased every month during 2021.

- All plants are producing at full capacity to secure a rapid increase in demand.

- Fiven increases expectations for year-end landing. Forecasted revenue growth for 2021 vs. 2020 is expected to be near 25%.

The global economic recovery remains strong, supported by the progress in vaccination. On the other hand, supply chain disruptions and the sharp rise in raw material prices have become a significant challenge for the global economy since the pandemic. Fiven group continues to act as agile as possible to remain a reliable supplier, mitigate the supply chain disruption, and optimally serve the recovery and growth of its customers.

http://www.rns-pdf.londonstockexchange.com/rns/7242T_1-2021-11-26.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 16:30 CET on 25 November 2021.

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.


26.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting