REC Silicon improved loss in 2020
Post date: 22/02/2021 - 08:57
Norwegian REC Silicon ASA reported fourth quarter 2020 consolidated revenues of $36.0 million versus $31.8 million in the same time of the prior year. The company improved loss from $45.5 million Q4 2019 to loss of $26.6 million in Q4 2020. Regarding the business units, revenue of Semiconductor Materials was $35.9 million (Q4 2019: $30.0 million), and revenue of Solar Materials was $0.1 million ($1.7 million). In 2020, revenue decreased from $160.2 million in 2019 to $122.1 million. The company improved loss from $127 million in 2019 to loss of $46.7 million in the reporting period.
Total polysilicon sales volumes decreased from 401 MT during the third quarter to 338 MT during the fourth quarter (Q4 2019: 303 MT). However, semiconductor grade polysilicon sales volumes increased by 76 MT to 250 MT while solar grade polysilicon sales volumes decreased by 138 MT to 88 MT for the fourth quarter.
Total silicon gas sales volumes increased by 18.1 percent to 881 MT during the fourth quarter of 2020 compared to 746 MT during the third quarter (Q4 2019: 857 MT). Sales prices realized by REC Silicon for silane gas decreased by 2.8 percent during the fourth quarter. Total polysilicon production volume for the fourth quarter of 2020 was 192 MT compared to 237 MT for the third quarter.
»The Semiconductor market has recovered after the Covid-19 weakness and the demand for REC Silicon’s semiconductor silicon gas and polysilicon are expected to be stronger through in 2021,«. said Tore Torvund, CEO of REC Silicon. »At the same time, we see that the PV market continues its strong growth and will require additional polysilicon capacity to meet anticipated demand.« The company is »optimistic that our effort to build a profitable portfolio to restart our $1.7 billion plant in Moses Lake will be successful.«.