Fiven ASA first quarter report 2021
Total revenues reported at EUR 28.4m, down by 11.9% versus Q1 2020 at actual FX rates and down by 4% at constant rates.
The revenue performance is highest since the Covid-19 outbreak and represents a sequential improvement of 21.5% over Q4 2020.
The adjusted EBITDA was EUR 3.9m, versus EUR 3.8m in Q1 2020.
The adjusted EBITDA margin at 13.7% exceeded the margin from Q1 2020 of 11.8%.
The cash balance ended at EUR 24.5m, up by EUR 1.5m from Year End 2020.
The leverage ratio has improved and ended at 2.18.
Fiven expects the order intake level to continue at a good pace throughout the year, driven by the prospect of further economic recovery worldwide, and notes that the orderbook has illustrated strong development in the YTD.
Fiven has mandated Pareto Securities to explore various options to refinance the group’s outstanding bonds in order to optimize Fiven’s financing structure and cost. Subject to market conditions, a new senior secured bond issue may follow in the near future.
Clear signs of recovery are apparent in many product segments. However, the recovery pace remains subject to the impact of the sanitary situation of the pandemic and the economy. The standard products market remains strongly driven by the sudden economic downturns and lockdowns, and the strategy remains to further explore untamed markets in customized products.
Forecasted revenue growth for 2021 vs. 2020 is expected to be over 12%. The adjusted EBITDA for the year 2021 is expected to be in the range between EUR 18m – 20m including a positive impact of EUR 1.2m from IFRS 16.
The full first quarter report 2021 can be downloaded from https://www.fiven.com/company-information/investor-relations/reports/
This information is information that Fiven ASA is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 20:00 CET on 25.05.2021.
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, email@example.com