Braskem announces 4Q13 and FY2013 Results
SAO PAULO, Feb. 13, 2014 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 4Q13 and FY2013.
- In 2013, Braskem's resin sales totaled 3.7 million tons, with market share of 68%.
- The average cracker capacity utilization rate was 90%.
- PP sales volume at Braskem America grew by 7% in 4Q13 and 3% in 2013, affected by the production growth, the highest since 2011.
- Consolidated EBITDA in the last quarter of the year was R$1,175 million. In U.S. dollar, EBITDA was US$521 million, growing approximately 20% from 4Q12 recurring EBITDA.
- In 2013, Braskem recorded EBITDA of R$4,813 million. In U.S. dollar, EBITDA was US$2,217 million, increasing by 11% from 2012.
- The construction of the Mexico project continued to advance, with the complex's physical completion reaching 58%. In November, the subsidiary Braskem-Idesa withdrew the second installment of the project finance in the amount of US$547 million. In 2013, withdrawals amounted to US$2,031 million.
- Braskem announced the expansion of one of its polyethylene production lines and the signing of a memorandum of understanding (MOU) with Styrolution for the production of styrenics specialties.
- Braskem announced that it entered into an agreement with Solvay for the acquisition of the controlling interest in Solvay Indupa, which has 4 plants producing PVC and caustic soda in Brazil and Argentina. With the acquisition, which is still subject to approval by the countries' regulatory agencies, Braskem:
- expands by 42% its PVC production in the Brazilian market and increases its capacity in the region to 1,250 kton, making it the fourth largest PVC producer in the Americas;
- expands its caustic soda capacity by over 60% to 890 kton.
- Braskem posted net income for the year of R$507 million and the Management proposal is for a distribution of dividends in the amount of R$483 million.
- Braskem's leverage in U.S. dollar stood at 2.87x, down 12% from 2012.
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 on Friday, February 14, 2014, at 9:00 a.m. ET in English and 7:00 a.m. ET in Portuguese. 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.
SOURCE Braskem S.A.