REC ASA - 1st quarter 2009
Oslo, April 29, 2009: Renewable Energy Corporation ASA (REC) reported revenue of NOK 2,013 million in the first quarter 2009, an increase of 14 percent from NOK 1,771 million in the first quarter 2008.
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to NOK 527 million in the first quarter 2009, a decline of 29 percent from NOK 742 million in the first quarter 2008. The EBITDA margin of 26 percent in the first quarter 2009 compares with 42 percent in the same quarter last year. The EBITDA margin was negatively affected by external sourcing of polysilicon, higher expansion and ramp-up costs, and a build-up of module inventory.
The operating profit (EBIT) was NOK 302 million in the first quarter, compared to NOK 579 million in the same quarter in 2008.
REC reported positive net financial items of NOK 298 million in the first quarter, compared to a negative NOK 251 million in the first quarter 2008.
Profit before tax thus increased to NOK 600 million in the first quarter 2009, from NOK 327 million in the first quarter 2008.
Earnings per share were NOK 0.80 in the first quarter 2009. This compares to NOK 0.43 in the first quarter 2008, on both a basic and diluted basis.
For more information, please see the attachments on www.newsweb.no
Morning program:
On the release day, Ole Enger, President and CEO of REC, will give a presentation together with other members of the management team. The presentation will take place at 08:00 hrs Norwegian time/CET at the conference centre Oslo Konserthus, Munkedamsveien 14, 0250 Oslo (www.oslokonserthus.no).
The presentation, held in English, will be broadcasted live over the Internet, and can be accessed from: www.recgroup.com.
It will also be possible to listen to the presentation through a conference call. Please use one of the following numbers (conference ID, 3433171):
Norway free call: 800 19 640
UK free call: 0800 028 1299
USA free call: 1888 935 4577
International dial in: +44 (0)20 7136 6285
Afternoon program:
REC will further host an analyst conference call with possibilities for questions and answers later the same day at 15:00 CET. Please make sure to dial inn at least 5 minutes ahead of time to finalize your registration:
Norway free call: 800 80 119
International dial in: +47 23 00 04 00
Immediately after the call, a replay of the conference call will be made available. To access, please dial +47 67 89 40 91 and use the following procedure:
Oslo, April 29, 2009: Renewable Energy Corporation ASA (REC) reported revenue of NOK 2,013 million in the first quarter 2009, an increase of 14 percent from NOK 1,771 million in the first quarter 2008.
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to NOK 527 million in the first quarter 2009, a decline of 29 percent from NOK 742 million in the first quarter 2008. The EBITDA margin of 26 percent in the first quarter 2009 compares with 42 percent in the same quarter last year. The EBITDA margin was negatively affected by external sourcing of polysilicon, higher expansion and ramp-up costs, and a build-up of module inventory.
The operating profit (EBIT) was NOK 302 million in the first quarter, compared to NOK 579 million in the same quarter in 2008.
REC reported positive net financial items of NOK 298 million in the first quarter, compared to a negative NOK 251 million in the first quarter 2008.
Profit before tax thus increased to NOK 600 million in the first quarter 2009, from NOK 327 million in the first quarter 2008.
Earnings per share were NOK 0.80 in the first quarter 2009. This compares to NOK 0.43 in the first quarter 2008, on both a basic and diluted basis.
For more information, please see the attachments on www.newsweb.no
Morning program:
On the release day, Ole Enger, President and CEO of REC, will give a presentation together with other members of the management team. The presentation will take place at 08:00 hrs Norwegian time/CET at the conference centre Oslo Konserthus, Munkedamsveien 14, 0250 Oslo (www.oslokonserthus.no).
The presentation, held in English, will be broadcasted live over the Internet, and can be accessed from: www.recgroup.com.
It will also be possible to listen to the presentation through a conference call. Please use one of the following numbers (conference ID, 3433171):
Norway free call: 800 19 640
UK free call: 0800 028 1299
USA free call: 1888 935 4577
International dial in: +44 (0)20 7136 6285
Afternoon program:
REC will further host an analyst conference call with possibilities for questions and answers later the same day at 15:00 CET. Please make sure to dial inn at least 5 minutes ahead of time to finalize your registration:
Norway free call: 800 80 119
International dial in: +47 23 00 04 00
Immediately after the call, a replay of the conference call will be made available. To access, please dial +47 67 89 40 91 and use the following procedure:
29/4 2009 23:39 Kenddinvare 0
9466 Næsten fordobling af indtjeningen fra 2008q1 til 2009Q1 er da bemærkelsesværdigt, men man skal se nøje på investeringerne for at få det fulde billede og specielt i forhold til det spøgelse om kapitaludvidelse som tidligere blev rejst og bankede kursen ned.
Og så er der jo lige den aktuelle sag om Zenith Solars projekt med at bruge spejle http://greenprophet.com/2007/12/16/7/the-light-of-a-thousand-suns/ .
Vil det skade REC m.fl. eller tværtimod styrke (dele af) deres forretning, såfremt der kommer kød på?
Og så er der jo lige den aktuelle sag om Zenith Solars projekt med at bruge spejle http://greenprophet.com/2007/12/16/7/the-light-of-a-thousand-suns/ .
Vil det skade REC m.fl. eller tværtimod styrke (dele af) deres forretning, såfremt der kommer kød på?
