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Fiven ASA third quarter report 2021

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  • 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.

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.

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Fiven ASA Q3 2021

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