At first glance, the Q1 figures were not disastrous, but the group’s equity was painted in red due to an impairment in the solar PV business segment (not shown in the P&L). Fortunately, the parent company’s net equity stood at USD150m. REC’s operating performance was too weak to offset the impairment (write-down?) mentioned in the section ‘Going Concern’. The company generated a black zero at the EBITDA level. We are not very comfortable with the report as it
14 May 2020
Looking into the abyss
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Looking into the abyss
REC Silicon ASA (0FS8:LON) | 0 0 0.0% | Mkt Cap: 1,187m
- Published:
14 May 2020 -
Author:
Martin Schnee -
Pages:
3
At first glance, the Q1 figures were not disastrous, but the group’s equity was painted in red due to an impairment in the solar PV business segment (not shown in the P&L). Fortunately, the parent company’s net equity stood at USD150m. REC’s operating performance was too weak to offset the impairment (write-down?) mentioned in the section ‘Going Concern’. The company generated a black zero at the EBITDA level. We are not very comfortable with the report as it