Braskem S.A. - EBITDA in the First Half of 2006 Reaches R$ 653 Million

Aug 03, 2006, 01:00 ET from Braskem S.A.

    SAO PAULO, Brazil, Aug. 3 /PRNewswire-FirstCall/ -- BRASKEM S.A. (NYSE:  
 BAK) (Bovespa: BRKM5) (Latibex: XBRK), leader in the thermoplastic resins
 segment in Latin America and one of the three largest Brazilian
 privately-owned industrial companies, today announced its results for the
 second quarter of 2006 (2Q06).
     Main Highlights:
     *  In the beginning of April 2006, Braskem acquired control of Politeno
        for an initial down payment of US$ 111 million. Braskem now has 100% of
        Politeno's voting share capital and 96.2% of Politeno's total
        share capital.
     *  Braskem implemented a share buy-back program with a duration of
        180 days, under which Braskem has agreed to repurchase up to
        13.9 million class "A" preferred shares (BOVESPA: BRKM5) and
        1.4 million common shares (BOVESPA: BRKM3).
     *  Braskem's shareholders approved the merger of Polialden into Braskem in
        an extraordinary shareholders' meeting.
     *  Braskem completed one year ahead of schedule the analysis of its
        internal controls and has achieved full compliance with the
        requirements of Section 404 of the Sarbanes-Oxley Act regarding
        internal controls applicable to companies listed on the New York Stock
        Exchange (NYSE).
     *  The rating agency "Fitch Ratings Ltd." upgraded Braskem's foreign
        currency rating (Issuer Default Ratings - IDR), reducing its risk of
        issuer default, and its long-term national scale rating.
     *  Braskem announced the deposit of its second nanotechnology patent,
        which is considered one of the most promising frontiers in polymers
        science and the general materials sector.
     *  Petroquimica Paulinia renewed its provisional environmental license to
        commence construction of a polypropylene plant in the City of Paulinia,
        State of Sao Paulo, the annual production capacity of which is expected
        to reach 300,000 tons.
     *  Braskem's EBITDA reached US$ 116 million in the 2Q06, compared to
        pro-forma EBITDA of US$ 190 million recorded in the 1Q06 (including
        US$ 51 million of non-recurring revenue).
     *  Braskem recorded net income of R$ 68 million in the 1H06, and a net
        loss of R$ 54 million during the 2Q06.
     Full information is available on the Company's IR website: .

SOURCE Braskem S.A.