Financial highlights
· Fiven delivered first quarter 2020 results with limited impact from Covid-19
· Total revenues reported at
· The adjusted EBITDA was
· Fiven's liquidity has been strengthened through the quarter, cash balance at
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
· 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,
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
For further information, please contact:
+47 975 10 481, Stein.E.Ommundsen@Fiven.com
+49 221 6507 6097, stefan.mokros@fiven.com
https://news.cision.com/fiven-asa/r/fiven-asa-first-quarter-report-2020,c3121956
https://mb.cision.com/Main/19065/3121956/1255000.pdf
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