SAO PAULO, Nov. 5, 2015 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 3Q15.
- Resin exports totaled to 454 kton, 22% and 43% up on 2Q15 and 3Q14, respectively. Exports of key basic petrochemicals reached 482 kton, up 35% and 19% from 2Q15 and 3Q14, respectively.
- The international unit posted record-high PP sales volume of 502 kton, representing growth of 2% on 2Q15, driven by a strong operating performance and recovery of the U.S. economy.
- The construction of the petrochemical complex in Mexico reached 98% of completion, with progress made on the pre-commissioning activities. The project withdrew the last disbursement of the project finance of US$24 million.
- Braskem's PE, PP, PVC sales in Brazil amounted to 866 kton in the quarter.
- In 3Q15, Braskem's average cracker utilization rate in Brazil stood at 92%. In the United States and Europe, the average utilization rate of the PP plants was 97%.
- Braskem posted EBITDA of R$3,044 million. The increase from 2Q15 is explained by (i) the 15% average Brazilian real depreciation; (ii) better basic petrochemical spreads in the international market; (iii) a good operating performance; and (iv) higher sales volume in the domestic market combined with higher exports. In U.S.dollar, EBITDA reached US$ 870 million, 2% higher than the previous quarter.
- Net income in the quarter reached R$1,482 million, reflecting the good operating performance and the adoption of hedge accounting.
- Braskem's leverage in 3Q15 was reduced to 2.05 times, which is the lowest level of the last nine years and 10% lower from 2Q15.
- Braskem is the new sponsor of the Brazilian Parathletics team and the runner Alan Fonteles. At the Pan American Games held in Toronto in August 2015, Brazil ranked first in the overall medal count and the athletics was responsible for 80 of the 257 medals won by the country.
The full earnings release is available on the Company's IR website: www.braskem.com.br/ri
Braskem will host conference calls to discuss its Results on November 6, 2015, FRIDAY, at 11:30 a.m. US ET. See connecting details on the Company's IR website.
Braskem reminds that its shareholders may receive a hard copy of Form 20-F for 2014, filed with SEC last April, free of charge, upon request.
For further information, contact Braskem's Investor Relations Area:
email@example.com, (+55 11) 3576-9531.
Source: PR Newswire
(November 5, 2015 - 8:12 AM EST)
News by QuoteMedia