OverviewSuggest Edit

REC Silicon is a producer of silicon materials. It manufactures a range of raw materials essential in the photovoltaic and electronics industries, such as solar and electronic grade silicon and silane gas. The company primarily serves solar and semiconductor manufacturing companies.
TypePublic
Founded1996
HQLysaker, NO
Websiterecsilicon.com
Employee Ratings3.2

Latest Updates

Employees (est.) (Dec 2021)289(+3%)
Job Openings9
Revenue (FY, 2020)$122.1 M(-23%)
Share Price (Jan 2021)KR18(+3%)
Cybersecurity ratingCMore
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Key People/Management at REC Silicon

Tore Torvund

Tore Torvund

President & CEO
James A. May

James A. May

Chief Financial Officer
Kurt Levens

Kurt Levens

Sr. Vice President EG Polysilicon and Silicon Gases
Chuck Sutton

Chuck Sutton

Vice President - FBR Polysilicon Sales
Francine Sullivan

Francine Sullivan

Vice President Business Development
Deeanna Worley

Deeanna Worley

Vice President of HSE, PSM, HR
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REC Silicon Office Locations

REC Silicon has offices in Lysaker, Butte, Moses Lake, Shanghai and in 3 other locations
Lysaker, NO (HQ)
Fornebuveien 84
Shanghai, CN
3F Qian Jiang Tower 971 Dong Fang Road Pudong
Tokyo, JP
8th Floor Pacific Century Place 1-11-1
Seoul, KR
#37th Floor ASEM Tower 517 Yeongdong-daero
Taipei, TW
No. 17 Cheng-Te Road Section 1 Datong dist.
Butte, MT, US
119140 Rick Jones Way
Show all (7)

REC Silicon Financials and Metrics

REC Silicon Revenue

REC Silicon's revenue was reported to be $122.1 m in FY, 2020
USD

Revenue (Q3, 2021)

36.2m

Gross profit (Q3, 2021)

23.9m

Net income (Q3, 2021)

(16.4m)

EBITDA (Q3, 2021)

(3.8m)

EBIT (Q3, 2021)

(10.7m)

Market capitalization (28-Jan-2021)

3.8b

Closing stock price (28-Jan-2021)

18.0

Cash (30-Sept-2021)

126.3m

EV

3.8b
REC Silicon's current market capitalization is kr3.8 b.
Annual
USDFY, 2018FY, 2019FY, 2020

Revenue

221.2m160.2m122.1m

Cost of goods sold

(55.8m)(46.3m)(20.7m)

Gross profit

166.7m114.5m118.3m

R&D expense

(2.6m)(1.8m)(1.3m)
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Revenue

45.0m47.0m36.4m24.7m31.0m30.3m28.1m35.6m36.2m

Cost of goods sold

(11.1m)(16.2m)(10.6m)500.0k(4.8m)(8.1m)2.2m(6.4m)(12.3m)

Gross profit

33.9m30.8m25.8m25.2m26.4m38.4m30.3m37.5m23.9m
Annual
USDFY, 2018FY, 2019FY, 2020

Cash

31.8m29.4m134.9m

Accounts Receivable

29.9m23.2m20.2m

Prepaid Expenses

11.7m7.3m5.6m

Inventories

79.1m47.7m41.3m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Cash

25.4m38.4m46.2m30.2m31.6m35.9m131.5m123.6m126.3m

Accounts Receivable

27.1m28.0m19.7m15.6m14.5m15.3m20.9m19.1m17.3m

Prepaid Expenses

15.5m10.5m11.3m7.7m5.4m7.7m5.8m4.3m

Inventories

79.4m72.3m64.9m52.9m50.7m46.8m48.8m45.0m38.2m
Annual
USDFY, 2018FY, 2019FY, 2020

Net Income

(348.0m)(127.0m)(69.3m)

Depreciation and Amortization

402.2m69.8m36.8m

Inventories

3.8m21.5m6.4m

Accounts Payable

(5.7m)
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Net Income

(23.4m)(61.2m)(104.8m)(10.6m)(50.8m)(53.2m)(8.6m)(14.0m)(25.6m)

Depreciation and Amortization

13.8m47.1m72.4m11.9m47.0m67.4m7.2m14.6m28.8m

Inventories

(300.0k)6.7m13.9m(5.2m)(3.0m)(4.3m)(7.6m)(4.1m)(4.9m)

Accounts Payable

(8.3m)(2.8m)(3.4m)(5.1m)(2.6m)600.0k
USDFY, 2018

Revenue/Employee

543.5k
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REC Silicon Acquisitions / Subsidiaries

Company NameDateDeal Size
Gitzeli Solar Energy Production S.A.
REC Advanced Silicon Materials LLC
REC Greece S.A.
REC SILICON AS
REC Silicon Inc
REC Silicon Pte. Ltd.
REC SOLAR AS
REC Solar Grade Silicon LLC

REC Silicon Revenue Breakdown

Embed Graph

REC Silicon revenue breakdown by business segment: 99.5% from SEMICONDUCTOR MATERIALS and 0.5% from Other

REC Silicon Cybersecurity Score

Cybersecurity ratingPremium dataset

C

73/100

SecurityScorecard logo

REC Silicon Online and Social Media Presence

Embed Graph

REC Silicon News and Updates

REC Silicon - Mandatory notification of trade

Reference is made to the stock exchange notice by Aker Horizons ASA on 10 May 2022 regarding the completion of the agreement between Aker Horizons Holding AS (“AHH”) (a wholly owned subsidiary of Aker Horizons ASA) and South Korea's Hanwha Solutions Corporation and Hanwha Corporation (jointly, “Hanw…

REC Silicon – Disclosure of large shareholding

Reference is made to the announcement published by REC Silicon ASA ("REC Silicon" or the "Company") on 23 March 2022 regarding the entry into of a share purchase agreement (the "SPA") between Aker Horizons Holding AS ("Aker Horizons"), Hanwha Solutions Corporation ("Hanwha Solutions") and Hanwha Cor…

REC Silicon - Announcement from Hanwha Solutions on nominated board members

On 18 November 2021 Hanwha Solutions Corporation announced an agreement with Aker Horizons ASA (“AKH”) and REC Silicon ASA (“REC”) to acquire 16.67 percent of the shares in REC through a private placement and a share purchase from AKH. Completion of the transaction occurred on 19 January 2022.

REC Silicon - Notice of General Meeting

Lysaker, Norway - April 8, 2022:

Correction: REC Silicon - Annual report 2021

Lysaker, Norway - March 28, 2022. Reference is made to the stock exchange notice from REC Silicon dated 25 March (below), announcing disclosure of the 2021 annual report. Corrected version with financial statemetns in European Single Electronic Format (ESEF) attached.      

REC Silicon - Aker Horizons sale of shares in REC Silicon ASA to Hanwha

Aker Horizons ASA's wholly owned subsidiary Aker Horizons Holding AS ("Aker Horizons") has today entered into an agreement with South Korea's Hanwha Solutions Corporation and Hanwha Corporation (together, "Hanwha") to sell all of Aker Horizons’ shares in REC Silicon ASA ("REC Silicon"). Aker Horizon…
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REC Silicon Frequently Asked Questions

  • When was REC Silicon founded?

    REC Silicon was founded in 1996.

  • Who are REC Silicon key executives?

    REC Silicon's key executives are Tore Torvund, James A. May and Kurt Levens.

  • How many employees does REC Silicon have?

    REC Silicon has 289 employees.

  • What is REC Silicon revenue?

    Latest REC Silicon annual revenue is $122.1 m.

  • What is REC Silicon revenue per employee?

    Latest REC Silicon revenue per employee is $422.5 k.

  • Who are REC Silicon competitors?

    Competitors of REC Silicon include East Hope Group, Hemlock Semiconductor and GCL-Poly Energy Holdings.

  • Where is REC Silicon headquarters?

    REC Silicon headquarters is located at Fornebuveien 84, Lysaker.

  • Where are REC Silicon offices?

    REC Silicon has offices in Lysaker, Butte, Moses Lake, Shanghai and in 3 other locations.

  • How many offices does REC Silicon have?

    REC Silicon has 7 offices.