Braskem Reports Net Income of R$ 305 Million in 1Q11

SAO PAULO, May 12, 2011 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK announces today its results for 1Q11.

HIGHLIGHTS:

    
    -- Braskem recorded consolidated net revenue of R$ 7.4 billion in 1Q11, 
       for growth of 3% from 4Q10 and 13% from 1Q10.
    -- Crackers in the South and Southeast Complexes operated at capacity 
       utilization rates above 90% in 1Q11, led by the South Complex, which
       operated at an average utilization rate of 96%.
    -- Synergies from the acquisition of Quattor amounted to R$ 75 million in 
       1Q11. In 2011, Braskem captured synergies estimated at R$ 377 million 
       on an annual and recurring basis.
    -- 1Q11 EBITDA reached R$ 919 million, with a 14.1% margin excluding
       resales. The negative impact related to the power blackout in the
       Northeastern plants was estimated at R$ 230 million.
    -- The net debt/EBITDA ratio maintained its downward path to reach 2.37x, 
       declining 2% from 4Q10 and 24% from 1Q10.
    -- At the end of 1Q11, the risk rating agencies Standard & Poor's (S&P) 
       and Moody's upgraded Braskem's rating to "BBB-" and "Baa3", 
       respectively, which corresponds to investment grade.
    -- In early April, Braskem announced the issue of US$ 750 million in 
       bonds maturing in April 2021 with a coupon of 5.75% p.a., which is the 
       lowest rate ever obtained by the company. The proceeds from the issue
       will be used to pre-pay short- and medium-term debt, in line with the
       company's strategy to restructure its debt profile.

The full earnings release is available on the Company's IR website: http://www.braskem.com.br/ir.

Braskem will host conference calls to discuss 1Q11 TOMORROW, May 13, 2011, 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:
    Luciana Paulo Ferreira, +55-11-3576-9178, luciana.ferreira@braskem.com.br
    Roberta Pimphari Varella, +55-11-3576-9266, 
     roberta.varella@braskem.com.br
    Daniela Balle de Castro, +55-11-3576-9615, daniela.castro@braskem.com.br
    Marina Dalben, +55-11-3576-9716, marina.dalben@braskem.com.br