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:6/27/2016)... June 27, 2016  Global demand for enzymes ... through 2020 to $7.2 billion.  This market includes ... cleaning products, biofuel production, animal feed, and other ... and biocatalysts). Food and beverages will remain the ... increasing consumption of products containing enzymes in developing ...
(Date:6/27/2016)... ... June 27, 2016 , ... ... findings on what they believe could be a new and helpful biomarker for ... research. Click here to read it now. , Biomarkers are components ...
(Date:6/27/2016)... , ... June 27, 2016 , ... ... for Amgen, will join the faculty of the University of North Carolina ... professor of strategy and entrepreneurship at UNC Kenan-Flagler, with a focus on the ...
(Date:6/24/2016)... , June 24, 2016  Regular discussions on a ... take place between the two entities said Poloz. ... Ottawa , he pointed to the country,s ... the federal government. ... said, "Both institutions have common economic goals, why not sit ...
Breaking Biology Technology:
(Date:5/3/2016)... , May 3, 2016  Neurotechnology, a ... the MegaMatcher Automated Biometric Identification System (ABIS) ... large-scale multi-biometric projects. MegaMatcher ABIS can process multiple ... using any combination of fingerprint, face or iris ... MegaMatcher SDK and MegaMatcher Accelerator , ...
(Date:4/28/2016)... 2016 First quarter 2016:   ... with the first quarter of 2015 The gross margin ... (loss: 18.8) and the operating margin was 40% (-13) ... Cash flow from operations was SEK 249.9 M (21.2) , ... unchanged, SEK 7,000-8,500 M. The operating margin for 2016 ...
(Date:4/26/2016)... 27, 2016 Research and ... Biometrics Market 2016-2020"  report to their offering.  , ... The analysts forecast the global multimodal biometrics ... during the period 2016-2020.  Multimodal biometrics ... such as the healthcare, BFSI, transportation, automotive, and ...
Breaking Biology News(10 mins):