SAO PAULO, May 15, 2017 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 1Q17 unreviewed by the auditors.
Braskem - Consolidated:
- EBITDA: amounted to US$1,144 million (R$3,598 million), advancing 45% from 1Q17;
- Consolidated net income of R$1,905 million and Parent Company net income of R$1,799 million;
- Financial leverage in U.S. dollar ended the 1Q17 at 1.57, down 6% from the ratio at the end of the prior quarter;
- In March the Company paid US$94.8 million referring to the portion of the U.S. Department of Justice (DoJ) under the Global Settlement.
- Crackers operated at an average capacity utilization rate of 95%, up 6 p.p. from 1Q16 and 5 p.p. from 4Q16,
- Brazilian demand for resins (PE, PP and PVC) came to 1.2 million tons in 1Q17, growing 5% from 1Q16;
- Resin exports amounted to 430 kton, increasing 3.5% in relation to both 1Q16 and 4Q16;
- Exports of basic petrochemicals came to 334 kton, advancing 27% and 23% from 1Q16 and 4Q16, respectively;
- EBITDA of R$2,391 million (US$761 million) to account for 68% of the Company's consolidated EBITDA from all segments.
United States and Europe:
- Capacity utilization rate of PP plants was 101%, increasing 1 p.p. from 1Q16 and 6 p.p. from 4Q16;
- Sales: 534 kton, increasing 7% and 6% from 1Q16 and 4Q16, respectively;
- EBITDA: US$188 million (R$592 million), representing 17% of the Company's consolidated EBITDA from all segments;
- In January, the new plant in La Porte, Texas to produce ultra-high molecular weight polyethylene (UHMWPE) started operating.
- PE plants operated at an average capacity utilization rate of 97%, 24 p.p. higher than in 4Q16;
- PE production amounted to 250 kton, growing 29% compared to 4Q16, in line with the Company's plans;
- PE sales: 264 kton, 47% sold in the Mexican market;
- EBITDA: US$171 million (R$536 million), representing 15% of the Company's consolidated segments.
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 TODAY, May 15, at 01:30 p.m. US ET. See connecting details on the Company's IR website.
For further information, contact Braskem's Investor Relations Area:
email@example.com, (+55 11) 3576-9531.
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SOURCE Braskem S.A.