REC Silicon - Third quarter 2021 results
19 Octubre 2021 - 11:55PM
REC Silicon - Third quarter 2021 results
Oslo, Norway – October 20, 2021: REC Silicon ASA (REC Silicon)
reported third quarter 2021 revenues of USD 36.2 million versus USD
35.6 million in the second quarter of 2021 and an EBITDA loss of
USD 3.7 million versus positive USD 7.9 million in the prior
quarter.
The Company reported EBITDA contributed by the semiconductor
materials segment of USD 1.8 million for the third quarter compared
to USD 11.5 million for the second quarter. Second quarter results
included other income related to the forgiveness of a loan provided
by the US government under the C.A.R.E.S. Act. Excluding this item,
EBITDA decreased by USD 5.2 million. This decrease can primarily be
attributed to higher electricity prices and lower production caused
by the completion of planned maintenance activities and a delayed
restart to mitigate high electricity prices.
Silicon gas sales volumes for the third quarter were 728 MT
compared to 819 MT during the prior quarter. Total polysilicon
sales volumes for the quarter were 397 MT and polysilicon
inventories decreased by 101 MT.
In addition, the Company reported USD 13.4 million in profit
from discontinued operations during the third quarter due to the
settlement of the indemnification loans on October 18, 2021. This
transaction also resulted in a decrease in liabilities of USD 13.9
million to USD 10.8 million at September 30, 2021.
REC Silicon reported cash balances of USD 126.3 million on
September 30, 2021 compared to USD 123.6 million on June 30, 2021.
“The semiconductor market continues to strengthen from a demand
perspective, but our results were unfortunately impacted by high
power prices and challenges caused by the global supply chain
backlog.
REC Silicon is pleased with the successful resolution of the
indemnity loans, which reduced the Company’s debt and removed the
remaining uncertainties associated with legacy obligations,“ said
Tore Torvund, CEO.
For more information, please see the attached first quarter 2021
report and presentation.
The company will host conference call to present the results at
8:00am CET. Following the presentation, it will be opened for
questions from the audience. The presentation will be in English.
To join the videoconference, use the following
link.https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20211020_1
Audiocast participants need to register to post questions.
For further information, please contact:James A. May II, Chief
Financial OfficerPhone: +1 509 989 1023Email:
james.may@recsilicon.com
Nils O. KjerstadIR ContactPhone: +47 9135 6659 Email:
nils.kjerstad@crux.no
About REC SiliconREC 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
over 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: RECSI), the
Company is headquartered in Lysaker, 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 Q3 2021 report
- REC Silicon Q3 2021 presentation
Rec Silicon Asa (LSE:0FS8)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Rec Silicon Asa (LSE:0FS8)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024