Braskem announces 2Q12 Results
SAO PAULO, Aug. 14, 2012 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK announces today its results for 1Q12.
- The crackers operated at an average utilization rate of 88% in 2Q12.
- Market share expanded 3 p.p. in 2Q12, with sales volume of 796 kton, or 71% of the total market. Compared to 2Q11, Braskem's sales grew by 4%.
- EBITDA in 2Q12 was R$845 million, up 7% on the prior quarter, benefiting from the U.S. dollar appreciation in the period. Excluding the nonrecurring impacts of R$108 million, EBITDA was R$737 million. In U.S. dollar, total EBITDA was US$430 million.
- The new PVC and butadiene plants have already been commissioned and should reach normalized production operations already in 3Q12, contributing to the Company's results as of July.
- Ethylene XXI Project (Mexico): earth moving works have entered the final phase and work has already begun on construction and purchasing equipment with longer delivery lead times, with the complex's start-up in 2015 on schedule.
- In line with its strategy to become more competitive and diversify its raw material sourcing, Braskem has implemented some actions to strengthen its position in the U.S. market, which included the acquisition of the propylene splitter assets at the Marcus Hook refinery and the strengthening of its long term commercial partnership with Enterprise Products for the supply of propylene through various contracts with terms in excess of 15 years.
- Braskem returned to capital markets once again in July 2012 to raise US$250 million with a yield of 6.98% p.a. through the reopening of its 2041 bond issue. The objective is to take advantage of the opportunity in the market and prepay its short-and medium-term debt.
The full earnings release is available on the Company's IR website: www.braskem.com.br/ir
Braskem will host conference calls to discuss 2Q12 Results TODAY, August 14, 2012, at 01:30 p.m. ET in English and 12:00 p.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.