REC Silicon improved loss yoy
Post date: 11/05/2021 - 08:29
Norwegian REC Silicon ASA reported first quarter 2021 revenues of $28.1 million compared with $24.7 million in the first quarter of 2020. The company improved loss to $8.6 million from loss of $10.5 million in Q1 2020.
Total polysilicon production volume for the first quarter of 2021 was 293 MT (Q1 2020: 242 MT). Because the FBR facility in Moses Lake, Washington has been shut down, all polysilicon produced was from the Semiconductor Materials facility in Butte, Montana. Polysilicon sales decreased by 32.9 percent from 338 MT in the fourth quarter of 2020 to 227 MT in Q 2021, but increased significantly compared to Q1 2020 with sales volumes of 88 MT. Total polysilicon production volume for the first quarter of 2021 was 293 MT compared to 192 MT for the fourth quarter of 2020.
Average prices realized for semiconductor grade polysilicon decreased by 6.7 percent compared to the prior quarter while average prices for solar grade polysilicon increased by 9.2 percent.
Silicon gas sales increased from 730 MT in the first quarter of 2020 to 781 MT in the first quarter of 2021. In Q4 2020 the company sold 881 MT.
»Limited shipping availability over the Pacific has created some problems in fulfilling orders, but we are confident it will gradually be resolved,« said the company's CEO Tore Torvund. »The PV polysilicon market has strengthened over the last months, but unfortunately, REC Silicon is not able to supply this market due to the trade dispute with China.« REC Silicon is confident that the Moses Lake facility will be restarted in 2023.