REC Silicon ASA (0FS8) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the REC Silicon first quarter 2025 presentation. I'm Curt Levins, CEO of REC Silicon. Today, we're going to talk about some highlights and updates, both from Q1 and then subsequent events. Our normal financial review We'll touch on strategic direction issues based upon activities as we described during the last quarterly presentation, as well as a trade policy update given all of the activity that has been over the past two months, and then provide with a summary. So our major restructuring activities have been accomplished and ongoing are a number of other restructuring activities. This will be a process that we will be continuing throughout the remainder of the year. We had an EBITDA loss of 4.6 million from continuing operations. Hanwha and its affiliates LAUNCHED A VOLUNTARY SHARE PURCHASE OFFER. WE ARE STILL WORKING ON THE FURTHER FINANCING OPTIONS FOR RESTRUCTURING, AND WE HAVE A LITTLE MORE DISCUSSION ABOUT THOSE ON A COUPLE SLIDES. LET'S SAY THAT RIGHT NOW IT IS A VERY CHALLENGING ENVIRONMENT FOR SALES REVENUES, A RESULT OF A NUMBER OF ISSUES COMING TOGETHER. trade actions, both new and existing, channel inventories in some segments that are a little bit weaker or where there's imbalances between the demand in the regions, and market softness with regards to the pull on the demand end all continue to impact our sales revenues and therefore our cash flow. So even though North America and Korea were our largest regions in this past quarter, they definitely remain weaker than previous high run rates due to specific semi-segments and channel inventory for some high margin gases and OLED producers. Still, Southeast Asia And China shipments remain limited. And if some of you recall, China shipments for us, for Silane, was something that ...