REC Silicon - Fourth quarter 2018 results

Sa2ri
REC 12.02.2019 kl 06:57 12604

REC Silicon - Fourth quarter 2018 results

Fornebu, Norway - February 12, 2019: REC Silicon ASA (REC Silicon) reported
fourth quarter 2018 revenues of USD 48.9 million, compared to 43.7 million in
the third quarter. The corresponding EBITDA during the quarter was a loss of USD
3.8 million compared to a loss of USD 6.1 million in the previous quarter.
Polysilicon sales volume for the quarter was 1,270 MT compared to 658 MT in the
prior quarter, while inventory decreased by 26 MT.

REC Silicon reported a cash balance of USD 31.8 million on December 31, 2018.
This represents a decrease of USD 9.2 million compared to September 30, 2018.
Cash outflows from operations was USD 8.7 million for the quarter which included
interest payments of USD 6.3 million.

Silicon gas sales volumes for the fourth quarter were 920 MT compared to
guidance of 850 MT. Silane gas prices decreased by 1.6 percent compared to the
third quarter. Fourth quarter semiconductor polysilicon production was 313 MT
compared to guidance of 340 MT.

The FBR facility in Moses Lake continued to operate at approximately 25 percent.
FBR production was 1,209 MT in line with guidance of 1,190 MT. FBR cash costs
were USD 14.6/kg compared to guidance of USD 15.3/kg.

REC Silicon's Board of Directors will consider a 2-month curtailment of
production at the facility in Moses Lake near March 1, 2019 to reduce FBR
inventories. At that time, REC Silicon's Board will consider whether trade
negotiations between the United States and China are likely to result in REC
regaining access to the China market for solar grade polysilicon and the overall
outlook for the polysilicon market. A decision to temporarily curtail production
at Moses Lake will not result in a workforce reduction. Customer demand will be
met through the sale of REC Silicon's existing inventories.

For more information, please see the attached fourth quarter 2018 report and
presentation.

A presentation of the results will be held at 08:00 a.m. CET at Høyres Hus
Konferansesenter, Stortingsgaten 20, Oslo, Norway. The presentation will be in
English.

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
with the following link:
http://webtv.hegnar.no/presentation.php?webcastId=97602872

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 the scheduled start time
on one of the following numbers:

Norway Dial-in (Tollfree/Freephone): 800 51 084
Norway, Oslo (Dial-in Local): +47 2100 2610
United Kingdom (Dial-in Tollfree/Freephone): 0800 358 6377
United Kingdom (Local Dial-in Local): +44 (0) 330 336 9125
United States (Dial-in Local): +1 929 477 0324
United States/Canada (Dial-in Tollfree/Freephone): 800 458 4121
Other international: +44 (0) 330 336 9125

Please provide confirmation code 4787028 and state your name, company and
country of residence.

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: 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.

https://newsweb.oslobors.no/message/469229
14.02.2019 kl 17:52 1316

Bokaj70
Samme leksa her som i iox, som nettop gikk fra 2,60 til nærmere 6, fikk du ikke kjøpt noen aksjer der, sikkert ikke, du ville vel helst kjøpe til 2, Herre min Gud for en gjeng.
Sa2ri
15.02.2019 kl 15:43 929

Enkelte mente at det ville komme en short inndekning etter resultatfremleggelsen sist uke. Fasit etter gårdagens handel er at Marshall nå mener det er på tide å øke shorten:

Active positions
POSITION HOLDER SHORT POSITION SHORT PERCENT POSITION DATE (DD.MM.YYYY)
MARSHALL WACE LLP 29 939 835 1,17% 14.02.2019
BLACKROCK INVESTMENT MANAGEMENT (UK) LIMITED 73 769 931 2,89% 25.01.2019
SUM 103 709 766 4,06%
Falco1
15.02.2019 kl 16:09 871

Kunne ikke lagt til at shorten ble satt på et ganske greit volum med oppgang i går og at shorten kan ha blitt satt for og stoppe oppgangen? Ps: Sa2ri det er ikke farlig og vinkle ting positivt.
Sa2ri
15.02.2019 kl 17:44 759

Jeg har ikke noe grunnlag for å mene noe som helst hvorfor Marshall øker shorten sin. Din spekulasjon om dette er tatt helt ut av løse luften (og ønsketenkning ut fra din egen sits). Hvis en økning i synlig short på ca. 2,3 mill aksjer er egnet til å "stoppe oppgangen", ja da er kursen i REC skjørere enn du har lyst til å tenke på.

USA kommer til å ta grep mot klimaendringene. Dette blir på sikt veldig gunstig for REC. Bare de overlever de neste par årene: https://on.ft.com/2T0W8T0