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

Belships ASA : Årsrapport 2016

23.03.2017 09:13:26
Belships årsrapport for 2016 publiseres i dag, se vedlagte pdf-fil. Årsrapporten er også tilgjengelig på www.belships.com.     Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12 Arsrapport 2016 This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients...

Marine Harvest ASA (OSE: MHG): Innløsning av opsjoner for ledende ansatte/kjøp av egne aksjer

22.03.2017 07:00:43
Antall opsjoner innløst Styret i Marine Harvest har tildelt 1,2 millioner opsjoner, med virkning fra 2013, under selskapets opsjonsprogram for ledende ansatte til personer som i dag inngår i selskapets opsjonsprogram. Opsjonsprogrammet er en viktig del av Marine Harvests langsiktige godtgjørelsesprogram for ledende ansatte. Antall opsjoner skal reduseres hvis fordelen ved innløsning av op..

Orkla ASA: Meldepliktig handel - opsjoner

21.03.2017 08:00:55
Orkla innløste 20. mars, under sitt tidligere opsjonsprogram for ledere, 20.000 opsjoner i Orkla-aksjer til innløsningskurs 40,03 kroner pr. aksje. Samlet antall utstedte opsjoner i forbindelse med Orklas tidligere opsjonsprogram for ledere etter denne transaksjonen er 660.000. Orkla eier 2.418.135 egne aksjer. Orkla ASA Oslo, 21. mars 2017Ref.:Investor Relations Elise Heidenreich Tlf.: 951 41..

Mest leste nyheter

  • 24 timer
  • 48 timer
  • 1 uke
Belships ASA : Innkalling til generalforsamling
Belships ASA : Årsrapport 2016
Aurskog Sparebank: Meldepliktig handel
Aurskog Sparebank: Endelig resultat i fortrinnsrettsemisjonen og allokering
Data Respons ASA: Nøkkelinformasjon angående kontant utbytte

Related stock quotes

REC Silicon ASA 1,1480 -3,0% Fallende aksjekurs
REC Silicon ASA 1,1480 -3,0% Fallende aksjekurs

Buy and sell signals

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017   Betingelser og vilkår
Kursinformasjon leveres av Interactive Data.
Alle kurser er 15-20 minutter forsinket som følge av distribusjonsavtaler satt av de forskjellige børserne.
24. mars 2017 01:08:19
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170322.1 - EUROWEB2 - 2017-03-24 01:08:19 - 2017-03-24 01:08:19 - 8 - Website: OKAY