REC Silicon ASA (OTCPK:RNWEY)
$ 0.38 0 (0%) Market Cap: 159.97 Mil Enterprise Value: 203.57 Mil PE Ratio: 0 PB Ratio: 0 GF Score: 54/100
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Q2 2024 REC Silicon ASA Earnings Call Transcript

Aug 08, 2024 / 06:00AM GMT
Release Date Price: $0.7818
Kurt Levens
REC Silicon ASA - President and Chief Executive Officer

Good morning and welcome to the REC Silicon second quarter 2024 results presentation. My name is Kurt Levens and I'm the CEO of REC Silicon. Chinese oversupply in Southeast Asia ingot and cell utilization due to trade actions affected silane volumes and shipments in the second quarter. Our higher EBITDA loss was due to increased startup costs at Moses Lake particularly as we ready and commission Silane IV and produce more product in the quarter, but lower value product. Progress is moving forward in terms of exiting our poly production at the Butte site and we stopped production at the end of the quarter.

And work is continuing in terms of advancing our mitigation efforts and we'll talk more about that on a subsequent slide. So I'm going to spend some time here on the Moses Lake operating update, discussing where we're at, where the challenges are and what our plan is. I would like to remind everybody that it's a continuous process and all functional areas must perform in order to achieve the expected specification requirements.

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