Fiven ASA first quarter report 2022

• Total revenues reported at EUR 50.2m representing an increase of 77.1% versus Q1 2021 and sequential increase of 35.5% over Q4 2021
• The adjusted EBITDA was EUR 11.9m, versus EUR 4.5m in Q1 2021 and EUR 7.0 in Q4 2021.
• Cash Flow from Operations ended at EUR - 0.9m compared with EUR 2.4m in Last Year’s Q1 driven by the early purchase of raw materials to secure supply and reduce impact of anticipated inflation
• The cash balance ended at EUR 23.1m, down from EUR 23.6m end of 2021 and 24.5m Q1 end of 2021
• The March 31 leverage ratio stood at 1.76
• Fiven has a stable fixed cost structure, and the higher Q1 volume and strict control of indirect headcount and costs translated into improved financial performance
• Fiven results are impacted by strong demand, higher market shares and increasing market prices. The price increase is compensating for power and raw material inflation, and the higher market share is following shortage of SiC due to supply chain turbulences and competitors reducing their output.

Outlook

Even though the global business and geopolitical environment remains challenging, Fiven still expects to deliver continued solid commercial performance driven by the prospect of strong momentum in the customized end markets, new product developments, and maintaining and expanding commercial relationships. Fiven sees greater opportunities in the semiconductor, power electronics, and armor market for defense applications.

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 16:00 CET on 16 May 2022.

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