Braskem Announces 1Q12 Results
SAO PAULO, May 10, 2012 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 1Q12.
- Crackers operated in the quarter at an average utilization rate of 93%, compared to 80% in 4Q11, which had been impacted by two scheduled maintenance shutdowns.
- Record ethylene (305.6 kton) and polypropylene (150.6 kton) production in March 2012.
- Braskem's thermoplastic resins sales in 1Q12 of 846 kton, up 9% from 4Q11, leading Braskem's resins market share to increase 3 p.p. to 68%.
- The gradual recovery of spreads in the quarter was not sufficient to prevent margin contraction compared to 4Q11. In this scenario, EBITDA in 1Q12 was US$442 million or R$787 million. Excluding the nonrecurring impact of R$236 million, related to the compensation of a raw material supply contract in the USA, EBITDA was US$310 million or R$551 million.
- New PVC plant already in the commissioning phase, which will increase capacity by 200 kton.
- Construction of the Butadiene project advanced in the quarter, with 88% already completed, which should ensure the plant's start-up by July 2012.
- Ethylene XXI Project in Mexico: progress made on the earthmoving works (40% completed) in preparation for the start of construction already in May, in line with the timetable approved for the project, which should ensure its startup in 2015.
- In April 2012, Braskem raised US$500 million through the issue of bonds due in April 2022 with a yield of 5.40% p.a., which is the lowest yield ever paid by the Company in a debt issue.
The full earnings release is available on the Company's IR website: www.braskem.com.br/ir
Braskem will host conference calls to discuss 1Q12 Results on FRIDAY, May 11, 2012, at 11:00 a.m. ET in English and 9:00 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, email@example.com
Roberta Pimphari Varella, +55 (11) 3576-9266, firstname.lastname@example.org
Susana Yamamoto, +55 (11) 3576-9970, email@example.com
Daniela Balle de Castro, +55 (11) 3576-9615, firstname.lastname@example.org
Pedro Gomes de Souza, +55 (11) 3576-9010, email@example.com
SOURCE BRASKEM S.A.
More by this Source
Braskem announces 4Q13 and FY2013 Results
Feb 13, 2014, 07:14 ET
Braskem anuncia resultados do 3T13
Nov 07, 2013, 11:05 ET
Braskem Announces 3Q13 Results
Nov 07, 2013, 08:02 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.