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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

2020

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, Stein.E.Ommundsen@Fiven.com

Stefan Mokros, IR Manager
+49 221 6507 6097, stefan.mokros@fiven.com

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, Stein.E.Ommundsen@Fiven.com

Stefan Mokros, IR Manager
+49 221 6507 6097, stefan.mokros@fiven.com 

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, Stein.E.Ommundsen@Fiven.com

Stefan Mokros, IR Manager
+49 221 6507 6097, stefan.mokros@fiven.com

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, Stein.E.Ommundsen@Fiven.com

Stefan Mokros, IR Manager
+49 221 6507 6097, stefan.mokros@fiven.com

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, Stein.E.Ommundsen@Fiven.com

Stefan Mokros, IR Manager
+49 221 6507 6097, stefan.mokros@fiven.com