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Fiven ASA announces redemption of bonds

As announced on 21 June 2024, Fiven ASA ("Fiven") will redeem its outstanding EUR 110,000,000 senior secured sustainability-linked floating rate bonds with ISIN SE0021148764 (the "Bonds") in accordance with clause 9.3 (Special redemption upon a change of Control Event) of the terms and conditions of the Bonds (the "Terms and Conditions") and the redemption date will be 31 July 2024 (the "Redemption Date").   Fiven has met the sustainability performance target for each relevant KPI on the relevant target observation date (being 1 July 2024) and no sustainability-linked redemption

Fiven ASA publishes sustainability-linked bond progress report

As announced on 21 June 2024, Fiven ASA ("Fiven") intends to redeem its outstanding EUR 110,000,000 senior secured sustainability-linked floating rate bonds with ISIN SE0021148764 (the "Bonds"). In accordance with the terms and conditions for the Bonds (the "Terms and Conditions"), a Sustainability-Linked Bond Progress Report (as defined in the Terms and Conditions) has been published as of today and is available on Fiven's website. Fiven will publish a separate call notice before the redemption of the Bonds in accordance with Terms and Conditions.     For further information,

Fiven ASA announces intention to redeem its outstanding EUR 110m bonds

PRESS RELEASEOslo, 21st June 2024  As announced on 4 June 2024, OpenGate Capital, the ultimate shareholder of Fiven ASA ("Fiven"), has entered into a binding agreement for the sale of Fiven to Kymera International, LLC, a portfolio company of Palladium Equity Partners, LLC (the "Acquisition"). The terms of the agreement were not disclosed. In connection with the closing of the Acquisition, Fiven intends to redeem its outstanding EUR 110,000,000 senior secured sustainability-linked floating rate bonds with ISIN SE0021148764 (the "Bonds") in accordance with clause 9.3 (Special

Binding agreement for the sale of Fiven

Fiven, a worldwide leading producer of Silicon Carbide (“SiC”), announced today that its owner, OpenGate Capital (“Open Gate”), a global private equity firm, has entered into a binding agreement for the sale of Fiven to Kymera International, a portfolio company of Palladium Equity Partners, LLC. The terms of the agreement were not disclosed.  OpenGate acquired Fiven in 2019 through a corporate carve-out from Saint-Gobain. Fiven's SiC grains and powders possess distinct characteristics, including exceptional hardness, thermal resistance, thermal conductivity, wear resistance, and

Fiven ASA - First Quarter Results 2024

· The total revenues in Q1 2024 reached EUR 35.2m, representing a sequential reduction of · -1.4% from Q4-2023 and -13.1% versus Q1 2023. Customized products evidenced resilience vs. current market situation. · The adjusted EBITDA was EUR 10.5m, up from EUR 9.6m in Q4 2023 and compared to EUR 13.0m in Q1 2023, (Q1 2023 being historically the strongest Q1 result of Fiven) · Cash Flow from Operations was EUR -0.1m compared with EUR 2.8m Q1 LY. The lower cash generation in 2024 was impacted by a one-off change in working capital of EUR -2m. · The cash balance ended at EUR 29.1m, a

Fiven ASA publishes Annual Report for 2023

PRESS RELEASE Oslo, 21st March 2024 at 16:00 CET  Fiven has today published its annual report for 2023. The report is attached to this press release and is available on Fiven's website . 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

Fiven ASA - Fourth Quarter Results 2023

· The total revenues in Q4 2023 reached EUR 35.7m, a sequential improvement from Q3-2023 of 3.3% and a reduction of -22.8% versus Q4 2022. Excluding exceptional one-off sales in Q4 2022, organic variation of sales amounts to -15.5%. Vs Q4 2021, organic variation from revenues amounts to -3.7%. · The adjusted EBITDA was EUR 9.6m, in line with the reported Q3 2023 result of EUR 9.7m and compared to EUR 20.3m in Q4 2022. Excluding exceptional one-offs in Q4 2022, organic variation amounts to -33.5%. Versus Q4 2021, the organic EBITDA improvement amounts to +37.3%. · In a market

Fiven ASA publishes bond prospectus and applies for listing of its bonds on Nasdaq Stockholm

Fiven ASA ("Fiven") has issued a senior secured sustainability-linked floating rate bond loan of EUR 110,000,000, within a total framework amount of EUR 170,000,000, on the Nordic bond market. The bonds carry a floating interest rate of EURIBOR 3m + 6.70 per cent. per annum and matures 11 December 2026. Fiven has applied for listing of the bonds on the Corporate Bond list at Nasdaq Stockholm. The bonds will be admitted to trading at Nasdaq Stockholm as soon as possible.   In connection with this, Fiven Company has prepared a prospectus. The prospectus has been approved by the

Fiven ASA has obtained a waiver under its existing bonds for an extraordinary distribution

Fiven ASA ("Fiven") issued on 21 June 2021 senior secured sustainability-linked bonds with ISIN: SE0016075196 (the "Existing Bonds") under the terms and conditions originally dated 15 June 2021 (as amended and restated 5 December 2022, the "Terms and Conditions"). As previously communicated, Fiven has on 11 December 2023 issued debt obligation instruments in an initial aggregate amount of EUR 110,000,000 with ISIN: SE0021148764 for the purpose of, inter alia, financing one or several distributions to its shareholder by way of dividends or repayment of outstanding shareholder loans and

Fiven ASA announces applicable redemption premium for redeeming its outstanding EUR 70m bonds

As announced on 27 November 2023, Fiven ASA ("Fiven") will redeem its outstanding EUR 70,000,000 senior secured sustainability-linked floating rate bonds with ISIN SE0016075196 (the "Bonds") in advanced on 21 December 2023 (the "Redemption Date").   Fiven has met the sustainability performance target for each relevant KPI on the relevant target observation date (being 21 November 2023) and no sustainability-linked redemption premium shall therefore be paid on the Redemption Date (in accordance with Clause 9.4 (Sustainability-Linked Redemption Premium) of the terms and conditions of

Fiven ASA successfully places EUR 110m of senior secured sustainability-linked bonds and announces intention to redeem its outstanding EUR 70m bonds

Fiven ASA ("Fiven") has successfully placed EUR 110,000,000 of senior secured sustainability-linked floating rate bonds under a framework of EUR 170,000,000 with (the "New Bonds"). The New Bonds will have a tenor of three years and the proceeds from the transaction will be used to, amongst other things, redeem Fiven's outstanding EUR 70,000,000 senior secured sustainability-linked floating rate bonds with ISIN SE0016075196 (the "Existing Bonds").   The Existing Bonds will be redeemed in advance in accordance with Clause 9.3 (Voluntary total redemption (call option)) of the terms and

Fiven ASA announces investor meetings to evaluate an up to EUR 110m senior secured sustainability-linked floating rate bond issue and provides a financial update

Fiven ASA (the "Company") has mandated Pareto Securities AB to arrange a series of investor meetings commencing on 21 November 2023. Subject to, inter alia, market conditions, a 3-year senior secured sustainability-linked floating rate bond issue in an initial amount of up to EUR 110 million (the "Bond Issue") within a framework of up to EUR 170,000,000 may follow.   The proceeds from the contemplated Bond Issue will be used to inter alia finance the repayment of the Company's existing outstanding EUR 70,000,000 senior secured sustainability-linked bonds with ISIN SE0016075196,

Fiven ASA - Third Quarter Results 2023

· The total revenues in Q3 2023 reached EUR 34.5m representing a reduction of -23.2% versus Q3 2022. This is sequentially down from the reported EUR 40.7m in Q2 2023. · The adjusted EBITDA was EUR 9.7m, versus EUR 14.0m in Q3 2022 (-30.7%). Q2 2023 Adjusted EBITDA was EUR 12.4m. · With weaker market conditions for all silicon carbide players, Fiven sales are in line with the market trends for core products but continue to stay above 2022 performance on customized products. EBITDA margins remain healthy. · Cash Flow from Operations reached EUR 9.3m compared with EUR 16.4 Q3 LY. ·

Fiven ASA - Second Quarter Results 2023

· The Q2 2023 total revenues reached EUR 40.7m representing a reduction of -19.9% versus Q2 2022. This is sequentially in line with Q1 2023 at 40.5m. · The adjusted EBITDA was EUR 12.4m, versus EUR 15.2m in Q2 2022 (-18.4%). Q1 2023 Adjusted EBITDA was EUR 13.0m · In spite of a lower performing core market, Fiven has largely managed to maintain revenues and adjusted EBITDA from the previous quarter through a growing share of customized products and a positive impact from currency · Cash Flow from Operations reached EUR 11.4m compared with EUR 6.2m Q2 LY · The cash balance ended

Fiven ASA - First Quarter Results 2023

· The Q1 2023 Total revenues reached EUR 40.5m representing a reduction of -19.4% versus Q1 2022. · The adjusted EBITDA was EUR 13.0m, versus EUR 11.9m in Q1 2022 (+9,2%) · The EBITDA performance was driven by sustainable growth of the customized products in fast growing end markets in combination with cost reduction effects · Cash Flow from Operations reached EUR 2.8m compared with EUR -0.9m Q1 Last Year · The cash balance ended at EUR 18.6m, down from EUR 18.9m year end 2022 · The March 31 leverage ratio stood at 1.01 Fiven's strategy of developing customized products to

Fiven ASA publishes Annual Report for 2022

Fiven has today published its annual report for 2022. The report is attached to this press release and is available on Fiven's website . 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,

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

Fiven Norge AS sold activities in Venezuela

Oslo, 9th December 2022 at 11:00 CET  Fiven announces that effective of November 30 Fiven Norge AS has sold its activities in Venezuela. 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 11:00 CET on

Fiven ASA – Approval of written procedure and amendments to the terms and conditions of the bonds

Fiven ASA (the "Company") today announces the successful completion of the written procedure that was initiated 9 November 2022 in relation to the Company's outstanding up to EUR 125,000,000 senior secured sustainability-linked bonds with ISIN SE0016075196 (the "Bonds"), regarding, inter alia, amendments to the terms and conditions of the Bonds to enable a one-off distribution of cash in the Company (as further specified in the notice of written procedure) (the "Proposal"). A sufficient number of bondholders participated in the written procedure in order to form a quorum, and a requisite

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

Fiven ASA - Initiates a written procedure

Fiven ASA (the "Company") has instructed the agent for the Company's up to EUR 125,000,000 senior secured sustainability-linked bonds with ISIN SE0016075196 (the "Bonds") to initiate a written procedure to request that bondholders vote in favour of amending the terms and conditions of the Bonds (the "Terms and Conditions") to enable a one-off distribution of cash in the Company (as further specified in the notice of written procedure).  The Company has delivered strong financial performance since the issuance of the Bonds, and due to a combination of earnings growth and cash generation,

Temporary 25% reduction of furnace operations at Lillesand plant

Fiven Norge AS has received a letter from the Norwegian Environment Agency (NEA) dated September 1st in which they have ordered the stoppage of 2 furnace groups for the plant in Lillesand, Norway. This order applies for the remainder of 2022 and equates to 25% of the furnace capacity in Norway. The decision is based on a projection of SO2 emissions for 2022. In compliance with the directive mentioned above, Fiven Norge has stopped two furnace groups with effect from September 1st.    Silicon carbide is an essential material in the green shift, and Fiven takes the task very seriously

Fiven ASA second quarter report 2022

· Total revenues reported at EUR 50.8m representing an increase of 68.1% versus Q2 2021 and sequential increase of 1.1% over Q1 2022 · The adjusted EBITDA was EUR 15.2m, versus EUR 5.8m in Q2 2021 and EUR 11.9m in Q1 2022. · Fiven results are impacted by strong demand, higher market shares and inflationary market prices · The price increase is compensating for power and raw material inflation as well as rising transportation costs and labor costs · The higher market share is following shortage of SiC due to supply chain turbulences and competitors reducing their output ·

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