REC Silicon ASA (0FS8) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to REC Silicon q one twenty twenty six presentation. My name is Kurt Levins. I'm the CEO, and I'm here with Jack Young, our CFO. We will cover usual highlights, updates, a brief financial review, discuss our strategic development and financing activities, and then close it out with a summary of the quarter. EBITDA from continuing operations was negative $3,800,000. Silicon gas sales are notably different across different demand segments. Market and growth outlook is heavily dependent upon completion of new capital project and the specific application. We finalized the 10,000,000 short term loan from Anchor AS, subsequently completed a equity raise, and made a repayment for a polysilicon prepayment due to the supply agreement. Gas sales continue in the same range. However, we're starting to see favorable mix effects towards more differentiated and higher value offerings. The flip side is that we are still dealing with oversupply in high volume commoditized markets where prices are lower and demand exists in unfavorable geographies for us as a US supplier. This results in losing some of the positive effects of increased volume. Acute revenues were down slightly quarter on quarter and year on year. Moses Lake segment had a one off effect due to a utility tax refund. View EBITDA slightly increased both quarter and quarter and year on year. Part of the positive cost reduction contributor is from lower input costs, particularly those that are normally seasonal relative to what we've come to expect. Additionally, completed capital project designed to use less of a particular feedstock is proving to perform as intended. As of the end of the quarter, we had a cash balance of 5,200,000. As noted previously, we also closed on an additional 10,000,000 USD loan. Nominal n...