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As of 2:04 AM 12/18/14 All times are local (Market data is delayed by at least 15 minutes).

rec silicon asa (R3Q) Snapshot

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03/11/14 - €0.61
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Market Cap
404.9M
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21.1K
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2.3B
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Current Stock Chart for REC SILICON ASA (R3Q)

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rec silicon asa (R3Q) Details

REC Silicon ASA produces and sells silicon materials worldwide. It provides solar and electronic grade polysilicon in various form factors, including granular, as-grown Siemens rods, rod segments, chunks, chips, and fines; and silicon gases, such as dichlorosilane, monochlorosilane, and disilane and polysilanes, as well as silane gas to the solar and electronics industries. The company was formerly known as Renewable Energy Corporation ASA and changed its name to REC Silicon ASA in October 2013. REC Silicon ASA is headquartered in Sandvika, Norway.

720 Employees
Last Reported Date: 11/4/14

rec silicon asa (R3Q) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: 10.0M NOK
Chief Financial Officer and Chief Financial O...
Total Annual Compensation: 112.8K NOK
Senior Vice President of Rec Solar
Total Annual Compensation: 5.3M NOK
Vice President of Legal and General Counsel
Total Annual Compensation: 145.8K NOK
Vice President of Commercial
Total Annual Compensation: 244.6K NOK
Compensation as of Fiscal Year 2013.

rec silicon asa (R3Q) Key Developments

REC Silicon ASA to Expand US Polysilicon Factory

REC Silicon ASA unveiled it plans a 3,000 tonnes expansion of its granular polysilicon factory in the US state of Washington for a total cost of USD 115 million (EUR 92 million). REC Silicon is engaged in the production of polysilicon and silicon gas at its plants in Moses Lake, Washington and Butte, Montana. The company's planned expansion project will involve installing two second generation (FBR-B) reactors to produce semiconductor grade polysilicon. In addition, REC Silicon intends to add silane gas loading capacity at the Butte facility. The expansion project is seen to be completed in the third quarter of 2016. The company targets 2014 polysilicon production of 18,600 tonnes. It produced 5,103 tonnes of polysilicon in the third quarter alone, up from 4,788 tonnes a year back. Also, REC Silicon said it had signed a non-binding deal with Saudi Arabian firm IDEA Polysilicon to explore the possibility of building a 20,000 tonnes polysilicon factory in the Kingdom. The planned facility will be using REC Silicon's second generation FBR-B technology. The project will be developed within 18 months. An investment decision is expected to be made in 2016.

REC Silicon ASA Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Impairment Charges for the Third Quarter; Provides Production Guidance for the Fourth Quarter, Production and Capex Guidance for the Full Year 2014

REC Silicon ASA reported consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenues of NOK 126.5 million against NOK 118.6 million a year ago. EBITDA was NOK 145.9 million against NOK 5.9 million a year ago. EBITDA excluding special items was NOK 44.9 million against 5.9 million a year ago. EBIT was NOK 112.9 million against LBIT of NOK 30.1 million a year ago. Profit before tax from continuing operations was NOK 158.6 million against loss before tax from continuing operations of NOK 54.7 million a year ago. Profit from continuing operations was NOK 119.5 million against loss from continuing operations of NOK 36.0 million a year ago. Profit from total operations was NOK 119.1 million against loss of NOK 269.7 million a year ago. Profit attributable to owners of the company was NOK 119.1 million against loss of NOK 269.7 million a year ago. Basic and diluted earnings per share from continuing operations were NOK 0.05 against loss of NOK 0.02 a year ago. Basic and diluted earnings per share from total operations were NOK 0.05 against loss of NOK 0.12 a year ago. Net cash flow from operating activities was NOK 20.6 million against net cash flow used in operating activities of NOK 24.6 million a year ago. Payments for property, plant, equipment and intangible assets were NOK 12.6 million against NOK 5.2 million a year ago. Revenues for the third quarter were broadly in line with the previous quarter, with lower polysilicon sales volumes offset by increased sales volumes of silicon gases. The increased EBITDA can be attributed primarily to lower costs driven by stable operations and high production levels. The improved result mainly reflects higher EBITDA, special items, and positive net financial items. For the nine months, the company reported revenues of NOK 366.8 million against NOK 294.2 million a year ago. EBITDA was NOK 194.9 million against NOK 23.0 million a year ago. EBIT was NOK 95.3 million against LBIT of NOK 1,188 million a year ago. Profit before tax from continuing operations was NOK 107.9 million against loss before tax from continuing operations of NOK 233.6 million a year ago. Profit from continuing operations was NOK 94.5 million against loss from continuing operations of NOK 156.8 million a year ago. Profit from total operations was NOK 92.9 million against loss from total operations of NOK 384.2 million a year ago. Profit attributable to owners of the company was NOK 92.9 million against loss attributable to owners of the company of NOK 984.2 million a year ago. Basic and diluted earnings per share from continuing operations were NOK 0.04 against basic and diluted loss per share from continuing operations of NOK 0.07 a year ago. Basic and diluted earnings per share from total operations were NOK 0.04 against basic and diluted earnings per share from total operations of NOK 0.17 a year ago. Net cash flow from operating activities was NOK 57.1 million. Payments for property, plant, equipment and intangible assets were NOK 19.0 million. EBITDA excluding special items was NOK 93.9 million against NOK 2.6 million a year ago. The increased EBITDA can be attributed primarily to lower costs driven by stable operations and high production levels. The improved result mainly reflects higher EBITDA, special items, and positive net financial items. Nominal net debt in terms of the cash balances that existed on September 30, 2014 was $160 million. For the quarter, the company reported impairment charges of NOK 1.1 million against NOK 4.6 million a year ago. For the fourth quarter, FBR is expected to be 4,400 metric tons, same as previously reported. On the silicon gas, the company guided 800 metric tons, same as previously reported. The company has guided down on the semiconductor production to 240 metric tons against 320 metric tons as previously reported. The company targets fourth quarter 2014 polysilicon production of 5,280 MT. The company annual polysilicon production volume is targeted at 18,740 MT, a 140 MT increase compared to prior guidance. The increase is primarily due to production in excess of guidance during the third quarter of 2014. Total CapEx for 2014 is expected to be USD 40 million.

REC Silicon ASA, Q3 2014 Earnings Call, Nov 04, 2014

REC Silicon ASA, Q3 2014 Earnings Call, Nov 04, 2014

 

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