Fiven ASA second quarter report 2020 – Stable adjusted EBITDA in spite of revenue decline
· Fiven Group second quarter revenues were impacted negatively by the Covid-19. · Total revenues reported at EUR 22.3m, down by 31.7% versus second quarter 2019 pro forma numbers. · The adjusted EBITDA was EUR 5.2m, down by 0.1% versus second quarter 2019 pro forma numbers. · In spite of the revenue decline, earnings showed a flat evolution quarter on quarter due to favorable impact from sales mix, currency and low raw material prices. · Fiven’s cash balance at quarter two end 2020 was EUR 21.7m versus EUR 10.2m second quarter 2019. The leverage ratio at 2.55 was well inside of