Braskem Announces 1Q13 Results

News provided by

Braskem S.A.

09 May, 2013, 14:37 GMT

SAO PAULO, May 9, 2013 /PRNewswire/ --Braskem S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK announces today its results for 1Q13.

HIGHLIGHTS:

  • Braskem's resins sales in 1Q13 increased by 6.2% and 8.8% from 4Q12 and 1Q12, respectively, amounting to 921 kton, while its market share reached 71%.
  • The crackers operated at an average capacity utilization rate of 90%, compared to 82% in the prior quarter, which was affected by electricity supply problems.
  • EBITDA in 1Q13 was R$937 million, growing by 6% from the recurring EBITDA in 4Q12, which is explained by the higher sales volume, the recovery in international spreads and the gains in operating efficiency. In U.S. dollar, EBITDA was US$470 million.
  • In response to the proposal submitted by the Chemical Industry Competitiveness Council, the government approved on May 2013 a reduction in the rate of PIS and COFINS taxes on feedstock purchases by the first- and second-generation of chemical producers.
  • The construction of the new petrochemical complex - Ethylene XXI - in Mexico remains on schedule and the project's physical completion reached 26%.
  • As part of its strategy to increase the value of its cracker streams, Braskem has already begun the construction of the pipeline to supply propylene to the Basf acrylic complex, scheduled to start operations in the second half of 2014.
  • The basic engineering studies related to Comperj are on schedule and the conceptual design is expected to be concluded within the new few months.
  • Receipt of the first installment of R$163 million from the divestment of the assets of the Water Treatment Unit.

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 next Monday, May 13, 2013, 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: 

Roberta Pimphari Varella, +55 (11) 3576-9266, roberta.varella@braskem.com 
Fernando T. de Campos +55 (11) 3576-9479, fernando.campos@braskem.com 
Daniela Balle de Castro, +55 (11) 3576-9615, daniela.castro@braskem.com 
Pedro Gomes de Souza, +55 (11) 3576-9010, pedro.gomes@braskem.com