Q2 2022 REC Silicon ASA Earnings Call Transcript
Good morning, and welcome to the REC Silicon Second Quarter 2022 Earnings Release Presentation. I am James May, the CEO of REC Silicon. And today, I have with me Douglas Moore, our CFO, and will review the company's financial performance during the quarter. I will then cover the remaining topics on our agenda this morning.
Company's revenue for the second quarter was $45 million. This represents an increase of approximately $10.4 million compared to revenues of $34.6 million for the first quarter of this year.
This increase is due to higher sales volumes primarily higher polysilicon shipments, which increased from 267 metric tons in the prior quarter to 471 metric tons. EBITDA for the second quarter decreased to a loss of $1.1 million compared to EBITDA to income of $3.6 million for the prior quarter. Lower earnings are primarily a result of higher energy costs, especially electricity and higher manufacturing overhead costs.
Higher overhead spending is due to preparations for the maintenance turnaround planned for the
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