Navigation Links
Braskem announces 2Q14 Results
Date:8/7/2014

SAO PAULO, Aug. 7, 2014 /PRNewswire/ -- Braskem S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 2Q14.

HIGHLIGHTS:

The average cracker utilization rate stood at 84%, decreasing 1 p.p. from 1Q14, due to the scheduled maintenance shutdown in one of the lines at the Triunfo site and by the lower feedstock supply to the Rio de Janeiro complex.

  • Braskem's sales followed the market slowdown and reached 879 kton. Compared to 2Q13, the market dropped by 8% and the Company's sales 7%.
  • Sales of PP in the USA and Europe business unit reached 479 kton, up 4% and 3% from 1Q14 and 2Q13, respectively, reflecting the recovery of local markets, especially in the automotive and retail sectors in the United States.
  • In 2Q14, Braskem recorded EBITDA of R$1,130 million, 17% lower than the 1Q14 recurring EBITDA, influenced by the sale mix, reduction of petrochemical spreads in international markets and the Brazilian real appreciation. Compared to 2Q13, EBITDA grew by 6%, driven by resins spreads recovery and the Brazilian real depreciation. In U.S. dollar, EBITDA in 2Q14 amounted to US$507 million.
  • The Company's leverage stood at 2.73x, in line with 1Q14. In Brazilian real, the leverage ratio stood at 2.62x, decreasing 3%.
  • The construction of the Mexico project reached 75% completion and equipment assembly of large pieces, such as the ethylene tower, was concluded.
  • In line to its commitment to develop the Brazilian plastics chain, Braskem continued to make progress on the Plastics Chain Competitiveness Incentive Plan and participated in the Agrishow fair, one of the largest agribusiness trade fairs, in order to approach the sector to the latest innovations in plastics.
  • Braskem announced a project to produce Ultra-High Molecular Weight Polyethylene (UTEC), a 100% Brazilian technology resin with applications in a wide range of industries at its unit in La Porte, Texas (USA).
  • Braskem figured among the 15 Dream Companies ("Empresa dos Sonhos") to work at according to young professionals in Brazil, in a survey involving undergraduate college students and recent graduates.

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 on Friday, August 8, 2014, at 01:30 p.m. ET in English and 12:00 p.m. ET in Portuguese. 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.


'/>"/>
SOURCE Braskem S.A.
Copyright©2014 PR Newswire.
All rights reserved

Related biology technology :

1. Keryx Biopharmaceuticals, Inc. Announces Upcoming Poster Presentations of Zerenex™ (Ferric Citrate) at the Upcoming American Society of Nephrology Kidney Week 2011 Annual Meeting
2. VaxyGen Assay Services, LLC Announces Launch of Custom Bioassay Services and Operations
3. Sequenom Announces Participation at the Lazard Capital Markets 8th Annual Healthcare Conference
4. ACORN Research, LLC Announces Partnership with AdeptBio, LLC
5. GeoVax Labs, Inc. Announces Nine Month 2011 Financial Results
6. WuXi PharmaTech Announces Third-Quarter 2011 Results
7. Chimerix Announces Late-Breaking Poster Presentation at Kidney Week 2011 Annual Meeting
8. Spherix Announces Third Quarter Financial Results
9. Modern Mobility Aids, Inc. Announces November 30, 2011 Closing of Lumigene Acquisition
10. MedImmune Announces Winners of Its 6th Annual Global Abstract Competition
11. Nile Therapeutics Announces Top-Line Results in Clinical Trial Evaluating the Subcutaneous Infusion of Cenderitide, Meets Primary Endpoint
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/4/2016)... N.J. , Feb. 4, 2016  CytoSorbents ... immunotherapy leader commercializing its flagship CytoSorb® blood filter ... surgery patients around the world, announced that CEO ... present at the Source Capital Group,s 2016 Disruptive ... update on the company.  Conference ...
(Date:2/4/2016)... -- ContraVir Pharmaceuticals, Inc. (NASDAQ: CTRV ), a ... targeted antiviral therapies, announced today that it will present ... held February 8-9, 2016, at the Waldorf Astoria New ... Healthcare Conference, taking place in New York ... Sapirstein , Chief Executive Officer of ContraVir, will provide ...
(Date:2/4/2016)... ... 2016 , ... Franz Inc. , an early innovator ... been recognized As “ Best in Semantic Web Technology - USA & Leader ... it’s our priority to showcase prominent professionals who are excelling in their industry ...
(Date:2/3/2016)...   ViaCyte, Inc ., a leading, privately-held ... cell-derived islet replacement therapy for the treatment of ... that ViaCyte and Janssen Biotech, Inc., one of ... have agreed to consolidate the assets of the ... ViaCyte with an exclusive license to all BetaLogics ...
Breaking Biology Technology:
(Date:2/4/2016)... The field of Human Microbiome research ... popular hubs of the biotechnology industry. While the ... of human microbiota, have garnered a lot of ... space has literally exploded in terms of both ... focuses on biomedical aspects of research, development, and ...
(Date:2/3/2016)... Calif. , Feb. 3, 2016 Vigilant ... Police Department in Missouri ... license plate reader (LPR) data from Vigilant Solutions. ... hit-and-run case in which the victim was walking out of a convenience ... parking space next to his vehicle, striking his vehicle ...
(Date:2/2/2016)... NEW YORK , Feb. 2, 2016 /PRNewswire/ ... analysis of the bioinformatic market by reviewing the ... computer enabled tools that drive the field forward. ... report to: Identify the challenges and opportunities ... service providers and software solution developers, as well ...
Breaking Biology News(10 mins):