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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 - 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 - 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 - 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 Group announces new COO and departure of CRO

Fiven, the world's leading producer of silicon carbide, announced the appointment of Terrance Blanchard as its new Chief Operating Officer (COO) and the departure of former Chief Research Officer (CRO) and member of the board of directors Pål Runde.   In this new role, Terrance will lead all aspects of operations for the company across all geographies. He will play a critical role in driving strategic growth initiatives. Terrance Blanchard brings more than 20 years of experience in operations management to his new role at Fiven. Most recently, he served as COO of Evoy AS,

Fiven ASA annual report 2021

· Fiven total consolidated revenues and other income for the 12-month period reached 127.4 MEUR · Adjusted EBITDA was 24.4 MEUR with a corresponding margin of 19.2 per cent. · Net income of the year was 2.9 MEUR. In 2021, the global economic recovery has advanced more strongly than anticipated a year ago. Meanwhile, the surge in demand for goods has caused high energy and raw material prices, and bottlenecks in production chains. As market conditions have started to change rapidly since Q2 2021, Fiven strived to serve its customers in a fast, challenging, and increasingly

Fiven ASA fourth quarter report 2021

· Total revenues reported at EUR 37.1m representing an increase of 55.7% versus Q4 2020 (as a reminder Q4 2020 was a low point still impacted by consequences of Covid-19) and an increase of 16.6% over Q3 2021 · The adjusted EBITDA was EUR 7.0m, versus EUR 4.8m in Q4 2020 · For FY 2021, revenues were EUR 127.4m as a consequence of market recovery and high demand for Fiven quality products, and adjusted EBITDA was EUR 24.4m. · The cash balance ended at EUR 23.6m, up from EUR 19.5m at Q3 closing · The December 31 leverage ratio stood at 2.31 · Fiven Group awarded EcoVadis Silver

Fiven ASA third quarter report 2021

· 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

Fiven ASA second quarter report 2021

· Total revenues reported at EUR 30.2m representing an increase of 35.6% versus Q2 2020 at actual rates and 42.3% at constant rates. · The revenues continue to rise, and the sequential growth represents an improvement of 6.6% over Q1 2021. · The adjusted EBITDA was EUR 5.8m in actual rates, versus EUR 6.1m in Q2 2020. The constant foreign exchange performance was EUR 8.0m evidencing a significant impact from currency fluctuation. · The adjusted EBITDA margin was 19.1%, down from Q2 2020 of 27.5%.   · Last twelve months revenues at Q2 2021 showed EUR 103.3m and adjusted EBITDA

FIVEN ASA: Completion of Historical Review and update of Sustainability-Linked Bond Framework

In accordance with its sustainability-linked bond framework (the “SLB Framework”) dated June 2021, Fiven ASA (“Fiven” or the “Company”) announces today that the Company has, in cooperation with third-party consultancy PwC, completed an external verification of the baseline KPI figures (the “Historical Review”) used for its three sustainability performance targets (“SPTs”) covering the reduction of: (i) CO\2\ emissions, (ii) SO\2\ emissions, and (iii) water withdrawal, in accordance with clause 14.17 (Verification and adjustments of the KPIs) of the terms and conditions for the 2021/2024

Fiven ASA to redeem its outstanding up to EUR 100,000,000 senior secured callable floating rate bonds with ISIN SE0012453850

Fiven ASA ("Fiven") hereby announces that Fiven's up to EUR 100,000,000 senior secured callable floating rate bonds with ISIN SE0012453850 (the "Bonds"), will be redeemed in advance in accordance with Clause 9.3 (Voluntary total redemption (call option)) of the terms and conditions of the Bonds. The redemption date will be 8 July 2021. The redemption amount for each Bond shall be 102.325 per cent. of the Nominal Amount, plus accrued but unpaid Interest up to (and including) the applicable redemption date. The redemption amount will be paid to the Bondholders holding Bonds on the

Fiven ASA annual report 2020 published

Financial highlights · Fiven total consolidated revenues and other income for the 12-month period reached 99.7 MEUR · Adjusted EBITDA was 16.7 MEUR with a corresponding margin of 16.8 per cent. The results include 0.5 MEUR of costs from restructuring actions executed in 2020. · The Operating Profit for the period ended at 10.5 MEUR. The Net Finance expenses of 11.9 MEUR include realized and unrealized exchange losses of 2.9 MEUR and interest on debt of 8.3 MEUR as main elements. Net Loss of the year was 2.9 MEUR. The outbreak of the COVID 19 Pandemic had a negative impact on

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