Braskem announces 2Q17 Results

Brazil - Português

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Aug 15, 2017, 23:15 ET

SÃO PAULO, Aug. 15, 2017 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 2Q17.

HIGHLIGHTS:

Braskem - Consolidated:

EBITDA: US$945 million (R$3,029million), advancing 10% on 2Q16;
Net income of R$1,142 million in the Consolidated and R$1,089 million in the Parent Company. YTD, consolidated net income amounted to R$3,056 million, while net income attributable to shareholders came to R$2,897million;
Financial leverage in U.S. dollar stood at 1.63x or 1.85 including the financial penalty under the Global Settlement.;
In compliance with the Global Settlement, Braskem paid a financial penalty equivalent to R$607 million, of which US$65 million was to the U.S. SEC in April, CFH30 million to the Swiss Office of the Attorney General in June;

Brazil:

Crackers operated at an average capacity utilization rate of 93%, down 2p.p. from 1Q17 and 1 p.p. from 2Q16;
Demand for resins (PE, PP and PVC) came to 1.3 million tons, growing 2% from 1Q17;
Sales in the Brazilian market: 844 thousand tons, 2% and 4% up on 1Q17 and 2Q16, respectively;
Resin production in 2Q17 reached 1.2 million tons;
Resin exports stood at 367 kton, 12% and 19% lower than 1Q17 and 2Q16;
YTD EBITDA of R$4,793 million, accounting for 71% of the Company's consolidated EBITDA from all segments;

United States and Europe:

As from 2Q17, the annual capacity of units in Europe reached 625 kta, an increase of 80 kta;
Capacity utilization rate of PP plants: 95%, 6 p.p. and 8 p.p. down from 1Q17 and 2Q16, respectively;
Sales: 516 kton, decreasing 3% from 1Q17 and increasing 2%, from 2Q16;
YTD EBITDA: US$308 million (R$977 million), 14% of the Company's consolidated EBITDA from all segments.

Mexico:

PE plants average capacity utilization rate of 83%, 14 p.p. lower than 1Q17; due to operational adjustments and punctual adjustments in the Ethane Supply;
PE Production: 217 thousand tons, 13% lower than 1Q17;
YTD Sales: , 503 kton, 50% sold in the Mexican market;
YTD EBITDA: US$312 million (R$992million), 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 TOMORROW, August 16, 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 protected], (+55 11) 3576-9531.

SOURCE Braskem