Braskem announces 2Q15 Results

News provided by

Braskem S.A.

06 Aug, 2015, 14:19 GMT

SAO PAULO, Aug. 6, 2015 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 2Q15.

HIGHLIGHTS:

  • The average cracker utilization rate stood at 93%, expanding 4 p.p. from 1Q15. The exception was the Rio de Janeiro complex, whose performance continued to be affected by low feedstock supply. Excluding the Rio de Janeiro site from the analysis, the utilization rate was 97% in 1Q15.
  • The domestic demand for resins in the quarter, which was 1.2 million tons, down 15% from 1Q15 and 8% lower than in 2Q14. Braskem's sales followed the market trend and amounted to 792 kton.
  • Resin exports amounted to 373 kton, increasing 46% and 53% from 1Q15 and 2Q14, respectively. Regarding the main basic petrochemicals, export sales volume amounted to 353 kton, up 23% from 1Q15.
  • In 2Q15, the average capacity utilization rate of the PP plants in the USA and Europe business unit stood at 101%, leading to a record production of 506 kton. The business unit also posted record-high sales of PP, of 493 kton, up 7% on 1Q15.
  • Braskem posted EBITDA of R$2,610 million in the quarter, explained by the good operational performance; the recovery in petrochemical spreads in the international market; and the 7% average Brazilian real depreciation. In U.S. dollar, EBITDA came to US$850 million.
  • Braskem's leverage stood at 2.27x in U.S. dollar, representing a decrease of 11% from 1Q15 and 17% over the same period of 2014.
  • Braskem posted net income in the quarter of R$1,055 million.
  • The physical completion of the Mexico complex, made by the subsidiary Braskem-Idesa, reached 95% completion and the pre-commissioning activities continued to progress, with the startup of the first steam generation boiler.
  • Braskem launched "Braskem Labs" project, which encourages startups to create projects that develop innovative new solutions based on plastics.

The full earnings release is available on the Company's IR website: www.braskem.com.br/ir

Braskem will host conference calls to discuss its Results on August 7, 2015, FRIDAY, time to be announced shortly. See connecting details on the Company's IR website.

For further information, contact Braskem's Investor Relations Area:
braskem-ri@braskem.com.br, (+55 11) 3576-9531.

Related Links

http://www.braskem.com.br/ir