Oslo, 26^th August 2022

 

Fiven ASA second quarter report 2022

Outlook

Despite a challenging geopolitical environment along with ongoing disruptions to global supply chains, Fiven expects to fully leverage any momentum in its end markets and deliver a solid commercial performance.  The management sees great opportunities in the semiconductor, power electronics, and armor market for defense applications.

Additional inflationary pressure on raw materials and power requires firm price and cost discipline. Fiven has a history of being successful in doing both. The goal remains to provide sustainable solutions for today's and tomorrow's industries.

The 1H financial performance has been strong. With the Ukrainian war ongoing, the growing interest rates, rapid inflation and labor costs increases as well as the unrest in the raw material and energy markets, sudden turns in the market cannot be excluded, especially in quarter 4. Still, Fiven is well positioned to stay resilient to the external forces through strong focus on costs and cash as well on continued efficiency improvement in the operation and flexible internal sourcing. Fiven is reasonably confident that also 2022 will produce a solid financial performance.

For further information, please contact:

Stein Erik Ommundsen, Group CFO and General Manager
,

Stefan Mokros, IR Manager
97,

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 16:00 CET on 26 August 2022.

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