REC Silicon ASA (0FS8) Q3 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:06.236 Good morning and welcome to the RAC silicon third quarter 2025 00:00:06.339 -- 00:00:09.363 results presentation. My name is Kurt Levins. 00:00:09.363 -- 00:00:14.587 I'm the CEO and with me is Jack Hume, our CFO. 00:00:18.034 -- 00:00:22.800 Today we're going to give our usual highlights and updates 00:00:22.800 -- 00:00:27.907 as well as a financial review and then spend a few slides on our 00:00:27.907 -- 00:00:30.407 strategic direction 00:00:30.558 -- 00:00:35.302 as well as summarizing where we're at right now. 00:00:38.711 -- 00:00:41.773 Our restructuring efforts continue, 00:00:41.856 -- 00:00:46.905 and we will have an approximate 10% reduction in force in 00:00:46.905 -- 00:00:48.905 Q4 00:00:49.228 -- 00:00:51.252 of this year. 00:00:51.252 -- 00:00:56.941 Our Moses Lake optionality costs are starting to stabilize near a lower 00:00:56.941 -- 00:00:58.992 run rate level. 00:00:58.992 -- 00:01:02.677 There are some incremental reductions that will continue, 00:01:02.677 -- 00:01:07.943 and we expect it to continue to lower quarter over quarter for the foreseeable 00:01:07.943 -- 00:01:09.943 future. 00:01:10.626 -- 00:01:14.591 There are still more opportunities in Butte for reduction 00:01:14.591 -- 00:01:17.134 in terms of our cost structure, 00:01:17.134 -- 00:01:23.500 and we are continuing to identify and actualize on those projects. 00:01:24.443 -- 00:01:30.152 Our markets are mixed right now. aggressive China supply in some segments, 00:01:30.152 -- 00:01:34.915 and delays across new end-user capacity continue. 00:01:36.780 -- 00:01:41.566 We finalized additional loans from Hanwha International and continue discussions on further 00:01:41.566 -- 00:01:43.709 short and long-term 00:01:43.709 -- 00:01:46.450 financi...