Braskem announces 4Q15 and 2015 Results

News provided by

BRASKEM S.A.

18 Feb, 2016, 13:22 GMT

SAO PAULO, Feb. 18, 2016 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 4Q15 and 2015.

HIGHLIGHTS:

Brazil:

  • In 2015, Brazilian resins demand (PE, PP and PVC) reached around 4.9 million tons, 7.6% lower than 2014. In this period, a domestic market share 1 p.p. higher led to resins sales of 3.4 million tons, a decrease of 6% in comparison to 2014, lower than the market's contraction.
  • Average cracker utilization rate of 89%, 3 p.p. higher than last year, reflecting the good operating performance, with record production of basic petrochemicals.
  • Record exports of resins and basic petrochemicals, with growth of 28% and 1%, respectively, over 2014.
  • Regarding the raw materials, the highlights of the year were the signing of two important agreements: in August, a power supply agreement with CHESF, and in December, the naphtha supply agreement with Petrobras.

USA, Europe and Mexico:

  • Average capacity utilization rate in the USA and Europe operations was 98%, 6 p.p. higher than 2014, highlighting the US industrial units production record
  • The Mexico project reached 99% completion. The utilities area is already operational and the main and accessory feedstocks are already in the site to support the cracker's startup and the beginning of the polyethylene production.

Braskem – Consolidated:

  • Braskem recorded an EBITDA in BRL and USD, of R$9,372 million and US$2,808 million, representing a growth of 67% and 17%, respectively, on the prior year.
  • Consolidated net income amounted to R$2,899 million in the year, or R$3,140 million related to Parent Company net income.
  • In December, rating agencies Standards & Poor's and Fitch Ratings reaffirmed the Company's investment grade rating in global scale of "BBB-", despite of the downgrade in Brazil's sovereign rating. This marks the first time that Braskem's rating is above the sovereign rating.

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 February 19, 2016, FRIDAY, at 11:30 a.m. US ET. 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