Fiven Annual Report 2021

Fiven Annual Report 2021 Outlook for Fiven Group Fiven expects to deliver continued solid commercial performance, driven by the prospect of a further economic recovery worldwide, strong momentum in end markets, and market share gains. A firm price discipline will offset any additional inflationary pressure of raw materials and ensure the sustainability of supply. Although limited Fiven revenues are being generated from customers in the areas concerned, it is difficult to predict how the ongoing conflict between Ukraine and Russia will impact Fiven business. The two-pillar strategy remains in place: accelerate growth in customized products by targeting applications with high growth dynamics and focusing on innovation and co-development with key customers, and selectively serving core markets by providing a high level of service offerings. 2021 was a year of recovery from the markets but also a year of significant turbulence in the raw material and transportation markets. Fiven continues to watch the inflationary pressures carefully and will execute price adjustments as necessary if the trend continues. The Board of Directors of Fiven ASA - Oslo, 22 March 2022 Falk Ast Pål Einar Runde Betty Lunøe Åsheim Chairman Member of the Board Member of the Board Helén Borchgrevink Stein Erik Ommundsen Member of the Board General Manager 24 Board of Directors' Report

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