Norwegian silicon producer REC Silicon ASA reported first quarter 2018 revenues of $69.6 million, down from $78.0 million in the previous quarter. The corresponding EBITDA during the first quarter was $14.6 million compared to $10.3 million in the previous quarter. Profit was $60.5 million compared to loss of $17.2 million in Q1 2017 (Q4 2017 $-150 million). Silicon gas sales volumes for the quarter decreased by 7.5 percent to 897 MT. First quarter polysilicon production was 3,523 MT, the sales volume decreased by 26.3 percent, while polysilicon inventory increased to 619 MT.
REC Silicon targets polysilicon production of 2,660 MT during the second quarter of 2018. »As expected, second quarter production will decline by approximately 27 percent due to high production volumes during the first quarter due to the operation of both Moses Lake Silane units at reduced capacity utilization.« Polysilicon production targets for 2018 are estimated at approximately 11,590 MT.
Silicon gas sales volumes are targeted at 910 MT for the second quarter of 2018 and 3,700 MT for the full year 2018.
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