SAO PAULO, Aug. 10 /PRNewswire-FirstCall/ -- BRASKEM S.A. (NYSE: BAK; BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; LATIBEX: XBRK) announces today its results for 2Q10.
HIGHLIGHTS:
- Braskem's pro-forma consolidated EBITDA, including Quattor and Braskem America (former Sunoco Chemicals), reaches R$3.8 billion in the last 12 months, up 9% over 1Q10, for margin of 15.5%.
- Quattor increases capacity operating rate in the quarter to 83% in 2Q10, 16% up from the prior quarter due to the better stability of feedstock supply.
- Quattor recorded EBITDA of R$214 million in 2Q10, growth of nearly 100%, with EBITDA margin of 15.0%, against the 8.8% margin reported in 1Q10, reflecting the higher supply of products due to the increase in operating rates at its plants and the better sales mix.
- The green ethylene plant in Triunfo is in the commissioning and pre-operational phase, with operations for the global market expected to begin in September 2010. In July, the Rio Grande do Sul State Environmental Protection Foundation (FEPAM/RS) granted the plant's operating license, and Braskem has already finished contracting the ethanol required to guarantee feedstock supplies.
- Quattor transaction advances on schedule with the merger by Braskem of stock in Quattor Participacoes S.A., making it a wholly owned subsidiary of the Company, announced on July 18.
- Braskem prepays debt of R$4.1 billion in 2Q10 and lengthened the profile of the Company's consolidated debt from 6.6 years to 8.2 years.
- Synergies should amount to R$400 million in annual and recurring EBITDA as of 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 2Q10 results TOMORROW, August 11, 2010, 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: |
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Luciana Ferreira, (+55 11) 3576-9178, [email protected] |
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Roberta Varella, (+55 11) 3576-9266, [email protected] |
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Marina Dalben, (+55 11) 3576-9716, [email protected] |
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Isabella Alves, (+55 11) 3576-9010, [email protected] |
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SOURCE Braskem S.A.
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