Fiven ASA releases its fourth quarter 2023 results

Fiven ASA has announced its results for the fourth quarter of 2023, showing total revenues of 35.7 million euros. This amount represents a sequential improvement of 3.3% compared to the third quarter of 2023, although it is down by 22.8% compared to the fourth quarter of 2022. Adjusted to exclude exceptional sales from the fourth quarter of 2022, the organic sales variation stands at -15.5%.

The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) amounts to 9.6 million euros, in line with the result of the third quarter of 2023 at 9.7 million euros and compared to 20.3 million euros in the fourth quarter of 2022. Organic EBITDA has shown an improvement of +37.3% compared to the fourth quarter of 2021.

Despite a general market slowdown for commodity products, custom sales demonstrate more resilience. The adjusted EBITDA margin remains at a sustained high level. Operating cash flow reached 9.8 million euros compared to 19.9 million euros in the fourth quarter of the previous fiscal year. The company also finalized a new long-term financing through a 110 million euros bond issuance in December.