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.