Braskem announces 3Q12 Results

News provided by

Braskem S.A.

08 Nov, 2012, 12:18 GMT

SAO PAULO, Nov. 8, 2012 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 3Q12.

HIGHLIGHTS:

  • Braskem's sales followed the upward trend in the petrochemical industry, growing 19%. Compared to 3Q11, the domestic market expanded by 1%, while Company's sales were up 11%, reflecting the efforts to expand its domestic market share.
  • Crackers operated at an average utilization rate of 92% in 3Q12, increasing 4 p.p. from 2Q12, responding to the stronger demand from second-generation assets.
  • EBITDA in 3Q12 was R$930 million, up 10% compared to the previous quarter, benefiting from the continued dollar appreciation and the higher sales volume, which partially offset the lower spreads in the international market. On a recurring basis, EBITDA increased 26% compared to 2Q12. In U.S. dollar, EBITDA was US$459 million.
  • The butadiene plant expansion, which was commissioned in June, has reached its production level as planned. The new PVC plant continues to ramp up its production as scheduled, and is already operating at around 80% capacity.
  • In October, the controlled Braskem Idesa has concluded with the joint venture formed by Odebrecht (40%), Technip (40%) and ICA Fluor (20%) the contract for the completion of engineering, procurement and construction services of the petrochemical complex in Mexico.
  • Braskem prepaid certain loans, among them some from BNDES, in the amount of R$400 million, in line with its strategy of maintaining only the competitive debts in its portfolio.

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

Braskem will host conference calls to discuss 3Q12 Results TOMORROW, November 9, 2012, at 9:00 a.m. ET in English and 7:00 a.m. ET in Portuguese. See connecting details on the Company's IR website.

For further information, contact Braskem's Investor Relations Area:

Guilherme Melega, +55 (11) 3576-9531, guilherme.melega@braskem.com.br
Roberta Pimphari Varella, +55 (11) 3576-9266, roberta.varella@braskem.com.br
Susana Yamamoto, +55 (11) 3576-9970, susana.yamamoto@braskem.com.br
Daniela Balle de Castro, +55 (11) 3576-9615, daniela.castro@braskem.com.br
Pedro Gomes de Souza, +55 (11) 3576-9010, pedro.gomes@braskem.com.br