REC Silicon ASA (OTCPK:RNWEF)
$ 0.38 0.01108 (3%) Market Cap: 159.97 Mil Enterprise Value: 203.57 Mil PE Ratio: 0 PB Ratio: 0 GF Score: 54/100
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Q3 2024 REC Silicon ASA Earnings Call Transcript

Nov 07, 2024 / 07:00AM GMT
Release Date Price: $0.464 (-25.10%)
Kurt Levens
REC Silicon ASA - President, Chief Executive Officer

Good morning and welcome to the third quarter, 2024 presentation.

I'm Kurt Evans CEO and I'm here with Jack Yun, our CFO and we're going to be taking roughly the next 45 minutes to an hour to present our results and also answer questions.

We're going to be discussing a Moses Lake facility update, Butte operations update briefly. A Silane for silicon nano material, financial highlights and some market updates. In the quarter we have revenues of $33.8 million.

Our EBITDA loss was $42.7 million, this was primarily due to startup costs associated with Moses Lake as well as weaker operational results from our Butte facility.

Our cash balance at the end of the quarter was $23.6 million.

Additionally, we had announced that our qualification of Moses Lake polysilicon was delayed.

And as a result of that, we turn down our operation at our Moses Lake facility in order to conserve liquidity.

Additionally, the Silane shipments were affected very much by the global PV slowdown,

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