FIVEN ASA Fiven ASA: Half-year Report
Transparency directive : regulatory news
|
DGAP-News: Fiven ASA
/ Key word(s): Half Year Report
PRESS RELEASE
Oslo, 26th August 2022 Fiven ASA second quarter report 2022
o The price increase is compensating for power and raw material inflation as well as rising transportation costs and labor costs
o The higher market share is following shortage of SiC due to supply chain turbulences and competitors reducing their output
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 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.
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 rns@lseg.com or visit www.rns.com.
26.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
1429509 26.08.2022 CET/CEST