Email Phone Facebook Instagram Twitter First Page Last Page Download Search Youtube Xing Date Time Location Login LinkedIn Profile Logout WhatsApp Info Contact

Press Releases

On this page you will find the latest press releases from Fiven ASA. If you would like to subscribe via email or RSS, please make use of our portal at https://news.cision.com/fiven-asa

2023

  • 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 historically high levels
  • Cash Flow from Operations reached EUR 19.9m compared with EUR 7.4m Q4 Last Year
  • The cash balance ended at EUR 18.9m, down from EUR 23.6m year end 2021 after a EUR 29.3m one-off cash distribution including fees agreed with bondholders
  • The December 31 leverage ratio stood at 1.0
  • For the full year the valuation of hedged power contracts in Norway is based on a fair value assessment under IFRS 9 Financial Instruments, and comparative numbers for full year 2021 have been restated as per requirements in IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors.

Fiven’s strategy, which focuses on developing customized products to accelerate growth in a fast-growing market and remaining the most sustainable player within core applications, has consistently translated into outstanding financial results, demonstrating the effectiveness of this approach.

Fiven’s agile management strategy allows the company to respond effectively to the dynamic market conditions and geopolitical landscape while maintaining a steadfast commitment to delivering high-quality products and meeting customer demands.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 10:00 CET on 27 February 2023.

2022

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, [email protected]remove-this.Fiven.com

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]remove-this.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 9 December 2022.

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 majority of the bondholders voted to approve the Proposal.

The amendments shall be effective as per 5 December 2022.

Pareto Securities AB acted as financial advisor in connection with the written procedure.

For further information:

For further questions to Fiven ASA, please contact: Stein Erik Ommundsen, CFO, at [email protected] or + 47 97 510 481.

For further questions to Pareto Securities AB, financial advisor to the Company, please contact: Oliver Humlen, Equity Partner, at [email protected] or +46 70 916 26 97.

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 15:00CET on 5 December 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 ended at EUR 33.3m, up from EUR 23.6m year end 2021
  • The September 30 leverage ratio stood at 0.94

Outlook

Despite an extremely uncertain geopolitical and macroeconomic environments, ongoing disruptions to energy supply in Europe, and further inflationary pressure that is expected to impact the business activity in the last quarter of 2022, Fiven remains well prepared to confront any temporary slowdowns thanks to its two-pillar strategy, lean organization, global geographic footprint, and diversified market exposure.

The management expects to fully leverage all momentum in its end markets and further deliver solid commercial performance.

Upcoming inflationary pressure on raw materials and energy requires firm price and cost discipline. The goal remains to provide sustainable solutions for today's and tomorrow's industries.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 14:00 CET on 21 November 2022.

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, net leverage has declined to 1.3x per Q2 2022, with a cash balance of approx. mEUR 25, which is expected to increase further over the remainder of 2022.

Provided the Request is accepted, Bondholders will be paid a consent fee of 2.85 per cent. (as further specified in the notice of written procedure). Moreover, the Leverage Ratio (as defined in the Terms and Conditions) will be lowered from the current level of 4.50x to 3.00x for the remainder of the tenor of the Bonds.

Bondholders representing approximately 48 per cent. of the Adjusted Nominal Amount (as defined in the Terms and Conditions) have expressed their intention to vote in favour of the request.

The agent will deliver the notice to a written procedure to all bondholders on 9 November 2022. The written procedure will commence on 15 November 2022 and end on 5 December 2022. To be eligible to participate in the written procedure a person must fulfil the formal criteria for being a bondholder on 15 November 2022.

Pareto Securities AB has been retained as financial advisor in connection with the written procedure.

The notice to the written procedure is available on the Company's website (www.fiven.com) and on Stamdata (www.stamdata.com).

For further information:

For further questions to Fiven ASA, please contact: Stein Erik Ommundsen, CFO, at [email protected] or + 47 97 510 481.

For further questions to Pareto Securities AB, financial advisor to the Company, please contact: Oliver Humlen, Equity Partner, at [email protected] or +46 70 916 26 97.

Information:

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 17:30 CET on 9 November 2022.

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 to reduce our activities' negative environmental and climate footprint. We work proactively to achieve increasingly stringent emission requirements and have already taken concrete measures to comply with the demands from the Environment Agency.

Fiven wants to state the following: 

  • Fiven Norge continues to strive for 100% emission compliance and, in 2021, achieved 18 out of 20 set targets. We have accelerated this work and will launch the next wave of furnace group cover in January 2023. 
  • No proven technology is readily accessible in the market to deliver the solutions in time to meet the emission requirements.
  • Fiven is developing the best available technology and works hard to create and implement new and innovative cleaning technology as quickly as possible.
  • So far there has been invested 120M NOK in the emissions reduction program, and significant further investments are planned.
  • Fiven focuses on delivering the technology to ensure full compliance with emission targets in time. Our emissions targets are in line with Norwegian authorities.    
  • The pandemic and global supply chain challenges have delayed the work's execution.

As a world-leading producer of silicon carbide, Fiven is fully committed to sustainable production. We have a long history in Norway and continue to be committed to sustainable operations in the region.

For more information:

Atanas Chapkov, General Manager, Fiven Norge AS
Email: [email protected]remove-this.fiven.com

Stein Erik Ommundsen, Group CFO and General Manager
[email protected]remove-this.Fiven.com

Stefan Mokros, IR Manager
[email protected]

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 17:30 CET on 2 September 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
  • The EBITDA of the quarter is also impacted by favorable appreciation of the BRL (EUR 1.5m) and inventory revaluation (EUR 0.8m)
  • Q2 saw the highest petroleum coke prices for years. Power prices have remained at historically high levels
  • Cash Flow from Operations reached EUR 6.2m compared with EUR 1.7m in Last Year’s Q2
  • The cash balance ended at EUR 25.3m, up from EUR 23.6m year end 2021
  • The June 30 leverage ratio stood at 1.31

Outlook

Despite a challenging geopolitical environment along with ongoing disruptions to global supply chains, Fiven expects to fully leverage any momentum in its end markets and deliver a solid commercial performance.  The management sees great opportunities in the semiconductor, power electronics, and armor market for defense applications.

Additional inflationary pressure on raw materials and power requires firm price and cost discipline. Fiven has a history of being successful in doing both. The goal remains to provide sustainable solutions for today's and tomorrow's industries.

The 1H financial performance has been strong. With the Ukrainian war ongoing, the growing interest rates, rapid inflation and labor costs increases as well as the unrest in the raw material and energy markets, sudden turns in the market cannot be excluded, especially in quarter 4. Still, Fiven is well positioned to stay resilient to the external forces through strong focus on costs and cash as well on continued efficiency improvement in the operation and flexible internal sourcing. Fiven is reasonably confident that also 2022 will produce a solid financial performance.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 26 August 2022.

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, manufacturer of the world's most powerful electric boat motors. Before that, he held various leadership positions at Schlumberger, a world-leading oilfield services company. Terrance’s appointment is effective as of July 1.

The announcement follows the departure of Chief Operating Officer Fernando Peraire end of May. "We appreciate all that Fernando has done for us, and we wish him all the best in his future endeavours," said CEO Falk Ast.

Chief Research Officer (CRO) Pål Runde decided to step down from his position in June 2022. He resigned from the company's board of directors. Pål was responsible for Fiven’s research and development efforts since the company’s inception. “Pål Runde has been instrumental in building the culture of innovation that is lived at Fiven today. We thank him very much for his commitment during all these years and wish him all the best for his future," said Falk Ast. The successor for the position will be published shortly.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 17:30 CET on 21 July 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, [email protected]remove-this.Fiven.com

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]remove-this.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.

  • 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 competitive market and achieved solid organic growth of 28% in gross sales YoY.

The full annual report 2021 can be downloaded from https://www.fiven.com/company-information/investor-relations/reports/

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 17:00 CET on 25 March 2022.

  • 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 Medal for sustainability in 2021

Outlook

Fiven’s consistent two pillar strategy remains in place: accelerate growth in customized products by targeting applications with high growth dynamics and focusing on innovation and co-development with key customers, and selectively serving core markets by providing a high level of service offerings.

2021 was a year of recovery from the markets but also a year of significant turbulence in the raw material and transportation markets. Fiven continues to watch the inflationary pressures carefully and will execute price adjustments as necessary if the trend continues.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 14:00 CET on 25 January 2022.

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 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, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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.

  • 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 were EUR 19.5m.
  • Fiven has concluded a new senior secured sustainability linked bond of EUR 70m with maturity in June 2024.
  • The cash balance ended at EUR 89.8m. Adjusted for the net proceeds of the new bond, the cash level was EUR 23.6m, down by EUR 0.9m from Q1 2021.
  • The redemption of the previous bond of EUR 56.5m has been executed in Q3.
  • The June 30 leverage ratio ended at 2.47.
  • Fiven order intake displays pre-pandemic levels, and the order book has increased every month during 2021.

Outlook

Although the uncertainty remains in how the pandemic might still impact some regions like India and Brazil, evident signs of recovery are visible in many product segments. Fiven expects the demand to continue at a good pace throughout the year, driven by the prospect of further economic recovery worldwide.  A strong selling price discipline is implemented to compensate for inflation and raw material and power cost increases.

Forecasted revenue growth for 2021 vs. 2020 is expected to be near 20%. The adjusted EBITDA for the year 2021 is expected to be in the range of EUR 20m – 22m, including a positive impact of EUR 1.4m from IFRS 16.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 17:30 CET on 27 August 2021.

 

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) CO2 emissions, (ii) SO2 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 bonds with ISIN SE0016075196.

As part of the Historical Review, Fiven notes that the observed value of water withdrawal for 2019 (1,201,029 m3) has been identified to be 6,057 m3 higher than what was previously disclosed in the SLB Framework (1,194,972 m3). As a result, Fiven notifies its bondholders that it will amend the SPT baseline figure accordingly in line with the SLB Framework such that the targeted decrease towards 2025 will correspond to 10.45%, as compared to 10.00% using the previous baseline figure. The Historical Review did not identify any other discrepancies against the reported figures under the SLB Framework.

The updated SLB Framework is available on Fiven’s webpage here.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 23 August 2021.

Fiven ASA (the "Company") has issued a senior securedbond loan in an initial amount of EUR 70,000,000 within a total framework amount of EUR 125,000,000, on the Nordic bond market. The bonds carry a floating interest rate of EURIBOR 3m + 6.85 per cent. per annum and matures 21 June 2024.

The Company 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, the Company has prepared a prospectus. The prospectus has been approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). The prospectus will be available on the Swedish Financial Supervisory Authority's website (www.fi.se) and on the Company's website (fiven.com).

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, Stein.E.Ommundsen[email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 17 August 2021.

We refer to the outstanding up to EUR 100,000,000 senior secured callable floating rate bonds issued by Fiven ASA ("Fiven") with ISIN SE0012453850 (the "Bonds") and to the terms and conditions of the Bonds (the "Terms and Conditions").

Reference is further made to a call notice dated 10 June 2021, in which Fiven informed the holders of the Bonds that it exercises its option to redeem all outstanding Bonds in full pursuant to Clause 9.3 (Voluntary total redemption (call option)) of the Terms and Conditions (the "Call Notice"), on 8 July 2021 (the "Redemption Date"). Fiven's obligation to redeem the Bonds on the Redemption Date is conditioned upon Fiven issuing senior secured sustainability-linked floating rate bonds on terms that are acceptable for Fiven (the "New Bonds") and fulfilling the conditions precedent for disbursement of the net proceeds from the issue of the New Bonds which are, among other things, to be applied towards financing the redemption of the Bonds (the "Financing Condition").

Fiven hereby confirms that the Financing Condition is fulfilled and undertakes to unconditionally redeem the outstanding Bonds on 8 July 2021 in accordance with the Call Notice.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 18:00 CET on 30 June 2021.

Fiven ASA (“Fiven” or the “Company”) announces today that the Company has successfully placed a sustainability-linked senior secured bond loan in an initial amount of EUR 70 million within a total framework of EUR 125 million. The bond has a tenor of three years and carries interest at an annual rate of 3 months EURIBOR plus 685 basis points. Fiven intends to apply for listing of the bond on the Corporate Bond List of Nasdaq Stockholm. The bond issue saw strong demand from primarily Nordic and international institutional investors and was significantly oversubscribed.

The placement constitutes the first EUR-denominated sustainability-linked bond by a sponsor-backed issuer in the Nordic bond market and illustrates Fiven’s strong commitment to reducing the environmental impact of its operations. Net proceeds from the bond issue will be used to repay the Company's outstanding bond loan, finance a shareholder distribution and for general corporate purposes.

Pareto Securities acted as Sole Bookrunner and Sustainability Structuring Advisor and Roschier Advokatbyrå as legal advisor in connection with the bond issue.

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 16:30 CET on 10.06.2021.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

Markus Wirenhammar
Head of Investment Banking, Pareto Securities
+46 (0) 708-72 51 86, [email protected]remove-this.paretosec.com

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 applicable record date (being 1 July 2021).

Fiven's obligation to redeem the Bonds on the redemption date is conditional upon that Fiven, prior to the applicable record date, issue senior secured sustainability-linked floating rate bonds on terms that are acceptable for Fiven (the "New Bonds") and fulfilling the conditions precedent for disbursement of the net proceeds from the issue of the New Bonds, which are, among other things, to be applied towards financing the redemption of the Bonds.

The Bonds will be de-listed from the corporate bond list of Nasdaq Stockholm in connection with the redemption date and the last day of trade will be the date falling on or about 1 July 2021.

Call notice re Existing Bonds

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 16:30 CET on 10.06.2021.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

The first quarterly report for 2021 by Fiven AS, released on 25 May 2021, has been amended to reflect a misprint of the Alternative Performance Measure Adj. EBITDA (page 22).

The table illustrating adjustments to EBITDA incorrectly listed other non-recurring items of EUR -584 thousand and IFRS 16 effects of EUR 333 thousand. The correct amounts for other non-recurring items and IFRS 16 are EUR 83 thousand and EUR -333 thousand, respectively. The report has been amended to reflect the misprint and an updated version of the table is provided below.

Open picture

For the avoidance of doubt, other items included in the table and the report, including inter alia operating profit and adjusted EBITDA remains as per the original report. As an effect of the amendment, Adj. LTM Q1 2021 EBITDA (incl IFRS 16 effects) is increased from EUR 17.4m to EUR 18.1m (of which EUR 1.3m relating to IFRS 16 effects).

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 19:00 CET on 27.05.2021.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

  • 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.

Outlook

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, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

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 the Fiven revenues and profits. The impact on the operating results was mitigated by a better product mix in sales, the local currency depreciation in Norway and Brazil against major trading currencies and cost reduction measures executed. The restructuring program launched in second quarter 2020 has lowered Fiven cost base and will bring full year effects in 2021.

The full annual report 2020 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 12:00 CET on 26.03.2021.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

  • Total revenues reported at EUR 23.8m, down by 8.7% versus fourth quarter 2019.
  • The adjusted EBITDA was EUR 3.9m, versus EUR 2.3m fourth quarter 2019.
  • The adjusted EBITDA margin increased, with key drivers coming from better sales mix, favorable situation on forex and cost reduction measures, and in spite of a net increase of provisions for inventory risk of EUR 0.6m.
  • The cash balance ended at EUR 23.0m versus EUR 14.8m in Q4 2019. The quarter on quarter improvement was EUR 6.3m coming from strong working capital performance.
  • The leverage ratio has improved and ended at 2.29.
  • Fiven continues to see an increase in order intake level. The recovery pace still remains subject to the impact of the sanitary situation of the pandemic and the economy.

Outlook

It remains too early to foresee a pre-pandemic level recovery in an environment of high uncertainty and uneven impacts. The end markets are expected to recover slowly, but the pace is subject to worldwide vaccination and the ease of lockdowns. Fiven, through its customer-centric organization, continues to take all the proper measures to manage efficiently through an extended period of fluctuated demand. Nonetheless, the management is equally focusing on sustainability, the safety of all its stakeholders, and further enhancing the growth in the customized market that is less prone to sudden macroeconomic changes.  Fiven ensures to be best prepared for when it is time to ramp-up the complete product range again.

The full fourth quarter report 2020 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 10:00 CET on 26.02.2021.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

2020

  • In a challenging market environment following the Covid pandemic, Fiven Group succeeded in delivering solid financial performance during the third quarter.
  • Total revenues reported at EUR 20.9m, down by 27.8% versus third quarter 2019.
  • The adjusted EBITDA was EUR 3.9m, down by 7.9% versus third quarter 2019.
  • The adjusted EBITDA margin increased as a result of better sales mix, favorable situation on forex and solid cost discipline.
  • At the end of the third quarter of 2020, the Fiven work force comprised 525 full-time equivalents. This is a reduction during the quarter of 74 and 101 less than year-end 2019.
  • Fiven’s cash balance at quarter three end 2020 was EUR 16.7m versus EUR 8.8m third quarter 2019. The leverage ratio remains solid at 2.89.
  • The second wave of the Covid-19 still causes major uncertainty in the short run with continued low visibility in the market. Recent months’ order intake is improving, but the market recovery is slow.

Outlook

The end markets are expected to recover slowly, but the pace is subject to the impact of the COVID-19 situation on the economy, especially in Europe and the Americas. However, Fiven through its customer-centric organization is taking all the proper measures to manage efficiently through an extended period of subdued demand. On the other hand, the management is equally focusing on the period after the acute crisis to ensure that Fiven is best prepared for when it is time to ramp-up production again.

The full third quarter report 2020 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 10:00 CET on 27.11.2020.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

  • Fiven Group second quarter revenues were impacted negatively by the Covid-19.
  • Total revenues reported at EUR 22.3m, down by 31.7% versus second quarter 2019 pro forma numbers.
  • The adjusted EBITDA was EUR 5.2m, down by 0.1% versus second quarter 2019 pro forma numbers.
  • In spite of the revenue decline, earnings showed a flat evolution quarter on quarter due to favorable impact from sales mix, currency and low raw material prices.
  • Fiven’s cash balance at quarter two end 2020 was EUR 21.7m versus EUR 10.2m second quarter 2019. The leverage ratio at 2.55 was well inside of bond requirements.
  • Lower customer demand has necessitated adaptation in production and organization in all Fiven production units, and a restructuring reserve of EUR 0.5m has been booked in second quarter of 2020.

Outlook

The visibility into the future is very short and future sales are difficult to predict. Fiven standard product markets are more impacted by the pandemic than the demand for specialty products.

Fiven continues to expect that the markets will remain challenging in the short term, with activity levels likely to remain subdued into Q3 and limited visibility into Q4. However, the strategy remains on track to grow on specialty/customized products.

Under those uncertain conditions, Fiven continues to have a strong focus on costs and cash. This means the group will continue to align production capacity and the supply chain to the level of market demand without compromising on ability to meet customer requirements. The need to reduce administration goes hand in hand with reduction in production and will foster a more efficient and leaner organization fully fit and scalable when the market is coming back.

The full second quarter report 2020 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 12:00 CET on 28.08.2020.

For further information, please contact:
Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]remove-this.Fiven.com

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]remove-this.fiven.com

Financial highlights

  • Fiven delivered first quarter 2020 results with limited impact from Covid-19
  • Total revenues reported at EUR 32.2m, up by 0.2% versus first quarter 2019.
  • The adjusted EBITDA was EUR 3.8 m, up by 2.5% versus first quarter 2019.
  • Fiven’s liquidity has been strengthened through the quarter, cash balance at EUR 23.9m, up by EUR 9.1m since year end 2019.

Business highlights

  • Fiven ASA is since 31 March listed at the NASDAQ Stockholm for bond trading.
  • The IT Carve Out Project from Saint Gobain (former owner of Fiven) was completed by 31 March 2020.
  • Fiven is taking appropriate measures to adapt its production and organization to the current customer demand.

Outlook

The visibility into the future is very short and future sales are very difficult to predict. Fiven standard product markets are more impacted by the pandemic than the demand for specialty products. Even though the first quarter results showed a limited impact on Fiven financials, the decrease of order intake and subsequently the order book indicates that the crises will increasingly hit the Fiven group at least for Q2 2020. How profound and how long the situation will prevail, is very uncertain. 

Under those uncertain conditions, FIVEN Group has taken all appropriate measures to produce safely and to adapt its production and organization level to the effective level of customers’ demand. This includes calibrated cost reduction measures of which adapted decrease in production and administrative workforce.

The full first quarter report 2020 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 12:00 CET on 28.05.2020.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

Fernando Miquel has been appointed Chief Operations Officer for Fiven Group as of 1st May 2020. He will oversee Fiven’s worldwide production platform, supply chain and purchasing.

Fernando holds a master's degree in chemical engineering and has many years of experience in manufacturing, which he gained in various management positions in companies in the EMEA region and in India.

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 10:00 CET on 01.05.2020.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected] 

Starting next week, Fiven will adjust its production volumes to the reduced demand for silicon carbide on the European market.

The company will cease material processing at its Belgian plant as of April 20. Consequentially, the facility in Venezuela will also be impacted. Production will resume as soon as Fiven sees a recovery in demand.

Serving all existing customers is of utmost importance to Fiven. To supply its customers, the company is adjusting its internal supply chain and capacity. All demand will be met from available stocks or from the company's other main plants in Norway and Brazil.

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 10:00 CET on 17.04.2020.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

Fiven ASA (the "Company") senior secured bond loan (short name: FIVEN 01) trading starts on the STO Corporate Bonds list at Nasdaq Stockholm on March 31, 2020. The bonds carry a floating interest rate of EURIBOR 3m + 7.75 per cent. per annum and matures 5 April 2022.

The company is a global leader in silicon carbide ("SiC"), a material used throughout a variety of industrial applications.

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 16:00 CET on 30.03.2020.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]

Fiven ASA (the "Company") has issued a senior secured bond loan of EUR 56,500,000on 5 April 2019, within a total framework amount of EUR100,000,000, on the Swedish bond market. The bonds carry a floating interest rate of EURIBOR 3m + 7.75per cent. per annum and matures
5 April 2022.

The Company will apply 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, the Company has prepared a prospectus. The prospectus has been approved by, and registered with, the Swedish Financial Supervisory Authority in accordance with the Financial Instruments Trading Act (1991:980). The prospectus will be available on the Financial Supervisory Authority’s website (www.fi.se) and on the Company's website (www.fiven.com).

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 12:00 CET on 27.03.2020.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
+47 975 10 481, [email protected]

Stefan Mokros, IR Manager
+49 221 6507 6097, [email protected]