EQS-News: Fiven ASA - Fourth Quarter Results 2023

EQS-News: Fiven ASA / Key word(s): Quarter Results
Fiven ASA - Fourth Quarter Results 2023

23.02.2024 / 12:40 CET/CEST
The issuer is solely responsible for the content of this announcement.

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PRESS RELEASE

Oslo, 23^rd February 2024 at 12:00 CET

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 displaying a general slowdown for core products, the customized sales are showing more resilience. The adjusted EBITDA margin remains at a sustainable high level.
• Cash Flow from Operations reached EUR 9.8m compared with EUR 19.9m Q4 LY. The cash impact from the sales of power was EUR 7.7m higher in Q4 2022 in comparison to Q4 2023.
• The cash balance ended at EUR 33.4m, up from reported EUR 18.9m at year end 2022 and EUR 5.9m higher than last quarter end.
• Long term financing through a new bond of EUR 110m completed in December.
• The December 31 leverage ratio stood at 1.99.

http://www.rns-pdf.londonstockexchange.com/rns/2962E_1-2024-2-23.pdf

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
[phone], [e-mail]

Stefan Mokros, IR Manager
[phone], [e-mail]

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 12:00 CET on 23 February 2024.

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 [e-mail] or visit www.rns.com.

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23.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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1844187 23.02.2024 CET/CEST