REC Silicon - Third quarter 2021 results


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 Officer
Phone: +1 509 989 1023
Email: james.may@recsilicon.com

Nils O. Kjerstad
IR Contact
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 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.

https://newsweb.oslobors.no/message/544634
Vilter
20.10.2021 kl 23:29 5601

«Uavhengig» i betydning av solarkjede. Eksemplet var myntet på solar pr dd. Batteri er et ekstra bein.
Sa2ri
21.10.2021 kl 06:56 5294

RECSI var tydelig selv på at dette i stor grad skyldes utfordringer med sylindre de frakter gassen i (husker ikke om det var på conferencde call eller på presentasjonen hos ARC). De er avhengige av at sylindrene de frakter gassen i (se side 14 i presentasjonen) returneres og de investerer derfor litt på dette området for å være mindre sårbare for logistikkutfordringer, men og for å dekke den økende etterspørselen. Og, ifølge RECSI er etterspørselen stigende med en antatt økning (Y/Y) var på 9% om jeg ikke husker helt feil.

Investeringen vil (ifølge RECSI) nedbetale seg selv raskt.
Redigert 21.10.2021 kl 07:12 Du må logge inn for å svare
Taycen
21.10.2021 kl 07:01 5268

Sa de noe om samarbeidet med G14?

De nevnte ikke G14 spesifikt, men gjentok at de forhandler med flere batteri anode leverandører.
Stonks_
21.10.2021 kl 07:16 5134

De har ogå å et børsmeldt samarbeid med g14, tror også at g14 har begynt å bygge men de gjør det i skjul
Jemo
21.10.2021 kl 16:03 4685

Litt artig å se at NEL idag har økt I verdi med omlag 1 RECSI 🤔
Forstå det den som kan 😁

Simply Wall Street ikveld:
Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth.
Sa2ri
22.10.2021 kl 11:16 3581

SB1M sender ut en syntetisk index en gang hver uke. I siste oppdatering (sist søndag) lagget RECSI 17,2% i forhold til sine peers på 3 mnd basis, og var 6,0% bak i forhold til siste måned. Hvordan dette slår ut denne uken får vi se på kommende søndag. Kursen sist fredag ved close var 13,50.

Sa2ri,

Ja potensialet er der. Bare noen signerte kontrakter nå så kommer ketsjup effekten. Mensom investor så er man på vent. Sikkert flere som ser på Rec men avventende. Siste er jo at ML åpner i tidlig 2023 i forholdt til i løpet av 2023 som var status tidligere
moneymay
23.10.2021 kl 14:00 2426

Avtaler blir aldri annonsert på en kvartalspresentasjon. Regner med du er nokså fersk i aksjemarkedet. Synd at du solgte men samtidig godt å riste av seg truseskvetterene også.
Sa2ri
25.10.2021 kl 08:27 1650

Søndagens syntetiske index fra SB1M viste at RECSI lagger hele 22,1% i forhold til sine peers på 3 måneders basis, mens den er 1,4% forran den siste måneden (1mnd).
manman01
25.10.2021 kl 08:56 1416

Tak for opdateringer Sa2ri (: