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FIVEN ASA Fiven ASA second quarter report 2021

Directive transparence : information réglementée

27/08/2021 19:00

DGAP-News: Fiven ASA / Key word(s): Quarterly / Interim Statement
Fiven ASA second quarter report 2021

27.08.2021 / 19:00
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

Oslo, 27th August 2021 at 17:30 CET

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 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.
http://www.rns-pdf.londonstockexchange.com/rns/0752K_1-2021-8-27.pdf

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 17:30 CET on 27 August 2021.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.



27.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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1229535  27.08.2021 

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