21.07.2016 06:50:22

REC Silicon ASA - Second quarter 2016 results

Related content

Fornebu, Norway - July 21, 2016: REC Silicon ASA (REC Silicon) reported revenues of USD 71.1 million, compared to USD 68.8 million in the previous quarter. The company also reported a second quarter cash balance of USD 91.3 million.  The corresponding EBITDA during the second quarter was a loss of USD 14.3 million compared to a loss of USD 13.4 million in the previous quarter.

REC Silicon's average solar grade polysilicon sales price during the second quarter increased by 9.7% from the previous quarter.  Q2 polysilicon sales of 3,634MT were in line with company expectations.  Finished goods inventory decreased by 1,963MT during the second quarter, compared to a 1,925MT inventory reduction in the previous quarter.

Silane III was successfully restarted in May and Silane IV is currently in restart. Second quarter polysilicon production was 1,671MT.

Average silicon gas sales prices decreased by 2.8% during the second quarter compared to the previous quarter. Silicon gas sales volume increased to 610MT compared to 531MT for the prior quarter.

Tore Torvund, REC Silicon's CEO, said, "Because sales were in line with expectations, inventory was reduced to desired levels and we were able to restart production in Moses Lake. With greater utilization of the company's FBR production assets, REC Silicon will be able to realize an industry leading cash cost by Q4 of this year. Further, during the first half of this year we have successfully improved the financial stability of the company as evidenced by the current cash balance and the repayment of USD 21 million of the company's debt."

For more information, please see the attached second quarter 2016 report.

Morning Program:

The Company will give a presentation at 8:00 am CET today at Høyres Hus Konferansesenter, Stortingsgaten 20, Oslo, Norway. The presentation will be in English.

A live webcast from the presentation can be accessed at www.recsilicon.com or the following link: http://webtv.hegnar.no/presentation.php?webcastId=36174352

It will also be possible to listen to the presentation through a conference call. Please make sure to dial in 5-10 minutes prior to scheduled start time on one of the following numbers:

Norway: +47 2100 2610

Norway (Toll Free): 800 51084

UK: +44 (0)203 043 2002

USA:  +1 800 263 0877

Other international: +44 (0)203 043 2002

Please provide confirmation code 1584790 and state your name, company and country of residence.

Afternoon Program:

REC Silicon will host an analyst conference call later the same day at 3:00 p.m. CET. Please make sure to dial in at least 5-10 minutes ahead of time to complete your registration.

Norway: +47 2100 2610

Norway (Toll Free): 800 51084

UK: +44 (0)203 043 2002

USA:  +1 888 339 3482

Other international: +44 (0)203 043 2002

Please provide confirmation code 3970418 and state your name, company and country of residence.

For further information, please contact:

Chris Bowes, Investor Relations

REC Silicon ASA

Phone: +1 509 793 8127

Email: chris.bowes@recsilicon.com

Nils O. Kjerstad

IR Contact Europe

Phone: +47 9135 6659

Email: nils.kjerstad@crux.no

About REC Silicon

REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine 30 years of experience and proprietary technology with the needs of our customers, with annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the Company is headquartered in Fornebu, Norway.

For more information, go to: www.recsilicon.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

REC Silicon Q2 2016 presentation

REC Silicon Q2 2016 report

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: REC Silicon ASA via Globenewswire


Attachment 1: 754861.pdf
Attachment 2: 754862.pdf

Send kommentar

Related debate

  • 1 uke
  • 1 måned
  • 1 år
Ingen indlæg

*Wilson ASA: Kvartalsrapport 4Q 2017

22.02.2018 09:03:06
  Wilson Asa rapporterer økt inntjening og driftsresultat for fjerde kvartal 2017. Konsernet oppnådde i fjerde kvartal 2017 brutto fraktinntekter på MEUR 71,4, opp fra  MEUR 62,5 i fjerde kvartal 2016. Konsernet har i samme periode oppnådd lav kostnadsvekst fra MEUR 26,0 i fjerde kvartal 2016 til MEUR 26,4 i fjerde kvartal 2017. Konsernet leverer således et driftsresultat før avskrivninger (E..

Statoils aksjespareprogram viderefordeler aksjer

20.02.2018 07:41:19
Aksjene som DNB kjøpte på vegne av Statoil ASA (OSE:STL, NYSE:STO) 15. februar 2018 til bruk i Statoils aksjespareprogram, er 20. februar 2018 viderefordelt til de ansatte i henhold til deres sparebeløp. Etter viderefordeling har aksjespareprogrammet 8.220.120 aksjer. Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12 This announcement is distr..

Statoil ASA: Meldepliktig handel

16.02.2018 07:23:11
På vegne av Statoil (OSE:STL, NYSE:STO) har DNB 15. februar 2018 kjøpt 530.143 aksjer til bruk i Statoils aksjespareprogram. Aksjene er kjøpt til kurs 174,67 kroner. Før viderefordeling til ansatte har Aksjespareprogrammet 8.492.494 aksjer. Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12 This announcement is distributed by Nasdaq Corporate S..

Mest leste nyheter

  • 24 timer
  • 48 timer
  • 1 uke
Statoil ASA: Tildeling av Utbytteaksjer til primærinnsidere
Statoil ASA: Resultatet av Utbytteemisjonen for tredje kvartal 2017
Havila Shipping ASA: Flaggemelding
Statoil ASA: Gjennomføring av kapitalforhøyelse i forbindelse med Utbytteemisjonen for tredje kvartal 2017
Havila Shipping ASA: Notering av nye aksjer

Related stock quotes

REC Silicon ASA 1,37 0,0% Uendret aksjekurs
REC Silicon ASA 1,37 0,0% Uendret aksjekurs

Buy and sell signals

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2018   Betingelser og vilkår
Kursinformasjon leveres av Morningstar.
Alle kurser er 15-20 minutter forsinket som følge av distribusjonsavtaler satt av de forskjellige børserne.
fredag 23. mars 2018 02:00:16
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20180321.2 - EUROWEB6 - 2018-03-23 02:00:16 - 2018-03-23 02:00:16 - 8 - Website: OKAY