Braskem announces 4Q14 and 2014 Results

Brazil - Português

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Feb 12, 2015, 07:42 ET

SAO PAULO, Feb. 12, 2015 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 4Q14 and FY2014.

HIGHLIGHTS:

In 4Q14, the Brazilian demand for thermoplastic resins (PE, PP, PVC) stood at 1.3 million tons, 5% down when compared to 3Q14, reflecting the usual period seasonality. In 2014, the resin market reached 5.3 million tons, 1% lower than in 2013. Braskem's resin sales followed the market trend, totaling 850 thousand tons in the quarter and 3.6 million tons in 2014.
PP sales of the USA and Europe business unit decreased 4% from 3Q14, influenced by the postponement of a portion of purchases in the quarter. In 2014, sales volume grew 4% to 1,863 kton.
Braskem's consolidated EBITDA reached R$1,352 million, down 10% from 3Q14. In U.S. Dollar, EBITDA was US$536 million. Compared to 4Q13, EBITDA increased 19% in Brazilian real and 6% in U.S. dollar.
In 2014, Braskem recorded EBITDA of R$5,620 million. The Brazilian real depreciation and the recovery in petrochemical spreads in the international market were the main factors responsible for this performance. In U.S. dollar, EBITDA increased 8% from 2013, to US$2,392 million.
Braskem's leverage, in U.S. dollar, stood at 2.58x, down 10% from the previous year. In Brazilian real, the leverage ratio stood at 2.92 times, down 6%.
On December 2014, Braskem contracted a new revolving credit facility in the amount of US$ 750 million, with a 5-year term.
In 2014, Braskem recorded net income of R$726 million
The Mexico project continued to advance, with construction reaching 88% completion.
The Plastics Chain Competitiveness Incentive Plan (PICPlast), made progress with the launch of the Sector Fund, which will promote the plastic image.
For the tenth consecutive time, Braskem was selected a component of the Corporate Sustainability Index (ISE) of the Sao Paulo Stock Exchange (BM&FBovespa).

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 TODAY, February 12, 2015, at 11:30 a.m. ET in English and 10:00 a.m. ET in Portuguese. See connecting details on the Company's IR website.

For further information, contact Braskem's Investor Relations Area:

[email protected], (+55 11) 3576-9531.

SOURCE Braskem