Fiven Annual Report 2020

Note 5 Operating segments Fiven identifies its segments according to the organization and reporting structure as decided and followed up by group man- agement. Operating segments are components of a business that are evaluated regularly by the chief operating decision maker, defined as the Chairman, for the purpose of assessing performance and allocating resources. Fiven has three reportable segments; Fiven Norway, Fiven Brazil and Fiven Belgium. Fiven Norway - The two plants in Norway in respectively Lillesand and Arendal are focused on specialty products as well as abrasive applications. Arendal is the oldest still running silicon carbide plant in the world. Fiven Brazil - The largest silicon carbide plant within the Fiven Group is located in Barbacena, Brazil. Mainly supplying the American continent market, the plant provides solutions for refractory and metallurgical applications. Fiven Belgium - The processing plant in Hody, Belgium, delivers mainly products for metallurgical and refractory applications. Fiven Belgium’s source of crude silicon carbide has traditionally been Fiven entities in Venezuela acting as an extension of the Belgian operations with no other customers than the Belgian entity. After the Covid outbreak 2020, the company has partially reduced its activity levels. Customer demand in 2020 has been met properly from available stock or from main plants in Norway and Brazil with limited production in Venezuela. Other - Fiven ASA has offices in Oslo, Norway. Together with Fiven GmbH in Cologne, Germany, they are performing headquarter and management activities for the Fiven Group. Fiven also has a sales representation office in Shanghai (China) and in Pittsburgh (USA). SEGMENT REPORTING FOR THE PERIOD 1 JANUARY TO 31 DECEMBER 2020: Amounts in EUR thousand Fiven Norway Fiven Brazil Fiven Belgium Other Total segment reporting Revenue from contracts with customers 47,333 34,999 16,876 - 99,208 Other income - 484 15 9 508 Total revenue and other income from external customers 47,332 35,483 16,891 9 99,715 Revenue from other group segments 1,207 10,303 1,029 -12,539 - Total revenue and other income 48,540 45,786 17,920 -12,531 99,715 Operating expenses (excluding depr. and amort.) -38,266 -38,619 -18,884 11,296 -84,473 EBITDA 10,274 7,167 -964 -1,234 15,242 Non-recurring & other non-financial items 360 -323 -82 1,524 1,479 EBITDA ADJ. 10,633 6,844 -1,046 290 16,721 SEGMENT REPORTING FOR THE PERIOD 5 FEBRUARY TO 31 DECEMBER 2019: Amounts in EUR thousand Fiven Norway Fiven Brazil Fiven Belgium Other Total segment reporting Revenue from contracts with customers 32,264 32,285 12,684 - 77,234 Other income 50 73 226 7 355 Total revenue and other income from external customers 32,314 32,358 12,910 7 77,589 Revenue from other group segments 1,191 3,631 7,007 -11,829 - Total revenue and other income 33,505 35,989 19,917 -11,822 77,589 Operating expenses (excluding depr. and amort.) -28,159 -32,053 -18,138 7,582 -70,769 EBITDA 5,346 3,936 1,779 -4,240 6,820 Non-recurring & other non-financial items 316 323 207 5,102 5,948 EBITDA ADJ. 5,662 4,259 1,986 862 12,768 Fiven Annual Report 2020 Financial statements   43