PRESS RELEASE                                                                                                                        

Oslo, 24^th May 2024 at 9:30 CET

Fiven ASA  - First Quarter Results 2024

• The total revenues in Q1 2024 reached EUR 35.2m, representing a sequential reduction of
•  -1.4% from Q4-2023 and -13.1% versus Q1 2023. Customized products evidenced resilience vs. current market situation.
• The adjusted EBITDA was EUR 10.5m, up from EUR 9.6m in Q4 2023 and compared to EUR 13.0m in Q1 2023, (Q1 2023 being historically the strongest Q1 result of Fiven)
• Cash Flow from Operations was EUR -0.1m compared with EUR 2.8m Q1 LY. The lower cash generation in 2024 was impacted by a one-off change in working capital of EUR -2m.
• The cash balance ended at EUR 29.1m, a reduction from reported EUR 33.4m at year end 2023, but higher than the EUR 18.6m reported in Q1-2023.
• The March 31 leverage ratio stood at 2.21.

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 9:30 CET on 24 May 2024.

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