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.

HIGHLIGHTS:

• 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, 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

SOURCE BRASKEM S.A.

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