Braskem announces 1Q16 Results
05 May 2016 - 2:48PM
PR Newswire (US)
SAO PAULO, May 5, 2016 /PRNewswire/ -- BRASKEM
S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK;
LATIBEX: XBRK) announces today its results for 1Q16.
HIGHLIGHTS:
Brazil:
- Demand for resins (PE, PP and PVC) amounted to 1.2 million tons
in 1Q16, growing 8% from 4Q15. In 1Q16, sales came to 780 kton,
down 18% from 1Q15, in line with the contraction in the domestic
market in the period.
- Average capacity utilization rate at Braskem's crackers of 89%
in 1Q16, in line with 1Q15 and 6 p.p. higher than in 4Q15,
reflecting the good operating performance in the Triunfo
petrochemical complex and the normalization of operations at the
Sao Paulo complex.
- Resins exports in the quarter reached 415 kton, increasing 62%
from. Exports of key basic petrochemicals came to 262 kton, down
12% from 1Q15.
- In 1Q16, EBITDA of the units in Brazil stood at R$2,165
million, accounting for 72% of the Company's consolidated
EBITDA.
United States and
Europe:
- In the USA and Europe unit, the PP plants operated at an
average capacity utilization rate of 100% in 1Q16.
- Production at the units in the USA and Europe amounted to 499 kton in 1Q16, growing
8% from 1Q15. Sales amounted to 500 kton, growing 9% from
1Q15.
- The units in the USA and
Europe posted EBITDA of
R$855 million (US$219 million), accounting for 28% of
consolidated EBITDA.
Mexico:
- Braskem Idesa successfully completed the startup of the cracker
and the specification of ethylene in March. In April, it was
produced the first lot of PE after the startup of the first PE
plant.
Braskem – Consolidated:
- Consolidated EBITDA in 1Q16 was a record of R$3,058 million, growing R$1,573 million or 106% in relation to 1Q15.
- Consolidated net income in 1Q16 came to R$747 million, with R$775
million attributed to shareholders, which corresponds to the
net income of the Parent Company.
- Braskem's cash generation in the period enabled it to reduce
its corporate leverage in U.S. dollar to 1.72 times, which is the
lowest level of the last 10 years and 33% lower than in 1Q15.
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,
May 5, at 02:30 p.m. US ET. See connecting details on the
Company's IR website.
For further information, contact Braskem's Investor Relations
Area:
braskem-ri@braskem.com.br, (+55 11) 3576-9531.
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