REC Silicon rides polysilicon demand fluctuations in Q1

Facebook
Twitter
LinkedIn
Reddit
Email
REC Silicon ASA reported a slump in polysilicon sales in the first quarter of 2017 as market demand weakness resumed after strong demand in the fourth quarter of 2016. Image: REC Silicon

Polysilicon producer REC Silicon ASA reported a slump in polysilicon sales in the first quarter of 2017 as market demand weakness resumed after strong demand in the fourth quarter of 2016.

REC Silicon reported first quarter revenues of US$57.5 million, down from US$80.4 million in the previous quarter. EBITDA was US$4.6 million, compared to US$4.9 million in the previous quarter.  

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company said that silicon gas sales volumes in the quarter were stronger than expected, at 820MT, exceeding guidance by 9.4%, although ASP’s declined 8.8% in the quarter.

REC Silicon reported first quarter revenues of US$57.5 million, down from US$80.4 million in the previous quarter. Image: REC Silicon

Total polysilicon production in the quarter was 3,127MT. FBR-based polysilicon production was 2,416MT. Total polysilicon inventory increased by 618MT. Polysilicon sales volumes was 2,509MT in the first quarter of 2017, down 34% from the previous quarter.

The company had a cash balance of US$80.9 million at the end of the first quarter, up US$15.2 million from the end of the prior quarter. Capacity utilisation was around 50%, while FBR production costs were US$10.7/kg.

The company expects FBR production costs to rise slightly in the second quarter to around US$11/kg as FBR production declines slightly to an expected 2,350MT.

However, FBR production is expected to reach around 9,510MT in 2017, up slightly from previous guidance of 9,420MT.

However, FBR production is expected to reach around 9,510MT in 2017, up slightly from previous guidance of 9,420MT. Image: REC Silicon

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 19, 2024
Texas, USA
Solar Media Events
March 26, 2024
Lisbon, Portugal
Solar Media Events
April 10, 2024
Dallas, Texas USA