Last €0.36 EUR
Change Today +0.021 / 6.14%
Volume 19.9K
As of 6:57 AM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

rec silicon asa (R3Q) Snapshot

Open
€0.33
Previous Close
€0.34
Day High
€0.36
Day Low
€0.33
52 Week High
03/11/14 - €0.61
52 Week Low
11/21/13 - €0.22
Market Cap
839.9M
Average Volume 10 Days
26.3K
EPS TTM
--
Shares Outstanding
2.3B
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for REC SILICON ASA (R3Q)

Related News

No related news articles were found.

rec silicon asa (R3Q) Related Businessweek News

No Related Businessweek News Found

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: 07/18/14

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 Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Production Guidance for the Third, Fourth Quarter and Full Year 2014; Provides Maintenance Capital Expenditure and Cash Flow Guidance for the Full Year 2014

REC Silicon ASA reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of USD 126.9 million compared to USD 81.1 million a year ago. EBITDA was USD 31.6 million compared to USD 10.3 million a year ago. The increased EBITDA can be attributed to higher sales volumes and selling prices partially offset by higher manufacturing costs. Sales were driven by a combination of improved Photovoltaic, Flat Panel Display, and Semiconductor demand and by competitive capacity being currently offline. Strong second quarter EBITDA demonstrates the strengthening demand for granular polysilicon and silicon gases in the market. LBIT was USD 1.7 million compared to USD 21.4 million a year ago. Profit before tax from continuing operations was USD 19.7 million compared to loss before tax from continuing operations of USD 123.5 million a year ago. Profit from continuing operations was USD 24.6 million or USD 0.01 per basic and diluted share compared to loss from continuing operations of USD 85.9 million or USD 0.04 per basic and diluted share a year ago. Profit attributable to owners of the company was USD 25.0 million or USD 0.01 per basic and diluted share compared to loss attributable to owners of the company of USD 77.4 million or USD 0.04 per basic and diluted share a year ago. Net cash flow from operating activities was USD 1.5 million compared to USD 38.1 million a year ago. Payments for property, plant and equipment and intangible assets were USD 3.7 million compared to USD 18.6 million a year ago. For the six months, the company reported revenues of USD 240.3 million compared to USD 175.6 million a year ago. EBITDA was USD 49.1 million compared to USD 17.2 million a year ago. LBIT was USD 17.6 million compared to USD 46.2 million a year ago. Loss before tax from continuing operations was USD 50.8 million compared to USD 178.8 million a year ago. Loss from continuing operations was USD 25.0 million or USD 0.01 per basic and diluted share compared to USD 120.8 million or USD 0.06 per basic and diluted share a year ago. Loss attributable to owners of the company was USD 26.2 million or USD 0.01 per basic and diluted share compared to USD 114.5 million or USD 0.05 per basic and diluted share a year ago. Net cash flow from operating activities was USD 36.6 million compared to USD 39.1 million a year ago. Payments for property, plant and equipment and intangible assets were USD 6.4 million compared to USD 23.5 million a year ago. Net debt decreased to USD 201 million at June 30, 2014, from USD 212 million at March 31, 2014. For the second quarter, the company reported polysilicon production of 4,375 MT. The company targets third quarter 2014 polysilicon production of about 5,000 MT. During the third quarter, no maintenance is scheduled which is the primary reason for the increase compared to the second quarter 2014. The company targets fourth quarter 2014 polysilicon production of about 5,260 MT. For 2014, annual polysilicon production volume is targeted at 18,600 MT, an 800 MT decrease compared to prior guidance. This decrease is driven by the effects of increases in silicon gas sales volumes and the extended silane outages experienced in the first half. For 2014, total maintenance capital expenditure is expected to be approximately USD 25 million. The company expects positive cash flows from operations to improve the company's liquidity, which is going to allow to continue to make capital investments in the business in 2014.

REC Group Expands U.S. Product Offering With New 72-Cell Solar Panel for Large Commercial and Utility-Scale Markets

REC Group announced that it will begin shipping its new high-quality, trade compliant 72-cell, 1000-volt solar panels to the United States by the end of 2014. Target markets for the Peak Energy 72 Series panels include large commercial/industrial and utility-scale PV power plant projects. The benefits of deploying solar arrays equipped with 72-cell panels, 1,000-VDC modules include lower installation costs, the use of fewer balance of systems components, and less overall cost per installed watt. As a result of these and other advantages, a growing majority of solar projects over 500 kilowatts in size in development or under construction in the United States will employ the larger, higher voltage panels, according to GTM Research.

REC Silicon ASA, Q2 2014 Earnings Call, Jul 18, 2014

REC Silicon ASA, Q2 2014 Earnings Call, Jul 18, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
R3Q:GR €0.36 EUR +0.021

R3Q Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Comtec Solar Systems Group Ltd $1.53 HKD +0.01
Gigasolar Materials Corp 588.00 TWD +30.00
GT Advanced Technologies Inc $11.16 USD -0.45
Integrated Silicon Solution Inc $14.61 USD -0.37
Sino-American Silicon Products Inc 44.75 TWD -0.90
View Industry Companies
 

Industry Analysis

R3Q

Industry Average

Valuation R3Q Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 15.5x
Price/Book 7.8x
Price/Cash Flow NM Not Meaningful
TEV/Sales 13.6x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact REC SILICON ASA, please visit www.recsilicon.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.