Brazilian Chemical Industry Association.


Certificates negotiable in the United States and which represent one or more shares of a foreign company. A U.S. depositary bank issues the ADRs against the underlying shares, which are held by a custody agent in the country where the shares are issued. Each Braskem ADR represents two class A preferred shares.


class of organic compounds that contain one or more benzene rings.

Basic Petrochemicals:

products resulting from the cracking of naphtha, natural gas and others. They are divided into two main families: olefins such as ethylene, propylene and butadiene, and aromatics such as benzene, toluene and xylene.

BM&F Bovespa:

The Securities, Commodities and Futures Exchange of São Paulo.


Index reflecting the price variation on a theoretical portfolio of shares defined periodically by the São Paulo Stock Exchange.


Abbreviation denoting the accounting principles accepted in Brazil.


The Bylaws of a company guide and regulate its functioning.


Administrative Council for Economic Defense, the Brazilian antitrust agency.


Compound Annual Growth Rate.


Light hydrocarbon that has the same properties as naphtha, used as alternative feedstock.

Corporate Governance:

It is the set of processes, traditions, policies and laws that regulate the manner how organizations are managed and involves the relations among its stakeholders (shareholders, Board of Directors, Board of Executive Officers and supervisory entities).


is the process of breaking large molecules into smaller molecules. Braskem uses the cracking process to transform naphtha into lighter derivatives such as ethylene and propylene, and other byproducts like butadiene, toluene, paraxylene, orthoxylene, mixed xylene and gasoline.


the Securities and Exchange Commission of Brazil. It has the powers to regulate, lay down rules and inspect the activities of market players.

Differentiated Levels of Corporate Governance:

Listing segments for the trading of shares issued by companies that voluntarily undertake to adopt good governance practices in addition to those required by law. For further information, click here.

EBITDA (Earnings Before Interests, Taxes, Depreciation and Amortization) ou LAJIDA

Earnings Before Interest, Taxes, Depreciation and Amortization.

EBITDA Margin:

Indicator obtained by dividing EBITDA by Net Revenue (EBITDA Margin = EBITDA / Net Revenue).


A multiple obtained by dividing a company's value (market value + net debt) by its operating result (EBITDA).

First Generation:

Consists of producers known as "crackers", as they are responsible for breaking naphtha (a byproduct of the petroleum refining process) or natural gas, their main raw materials, and transforming them into basic petrochemicals.

Free float:

Number of shares of a company available for trading in organized markets such as the BM&F Bovespa and the NYSE.


Gross Domestic Product.

IFRS (International Financial Reporting Standards):

set of international accounting norms published and reviewed by the International Accounting Standards Board (IASB).

Investment grade:

The risk rating level according to which the company is considered a 'low risk' one and hence its securities may be acquired by the more conservative investors.

ITR (Quarterly Information):

Accounting statement prepared every quarter and submitted to the CVM.


a Madrid-based stock exchange for trading on Latin American securities in Euros.

Market Cap (Market Capitalization):

Also known as Market Value, it is the value of a publicly held company's share traded on the stock exchange multiplied by the number of existing shares.


a petroleum derivative mainly used as a feedstock in the petrochemical industry in the production of ethylene and propylene, as well as other liquid fractions such as benzene, toluene and xylene.

Natural Gas:

Mixture of light hydrocarbons, with high methane content, which remains in the gaseous state under normal temperature and pressure conditions. Natural gas is extracted directly from petroleum or gas reserves.


New York Stock Exchange.

Petrochemical Industry:

industry of chemical products derived from petroleum. The petrochemical products include paraffins, resins, olefins, aromatic hydrocarbons and their derivatives.


An oily and inflammable substance composed mainly of hydrocarbons, which is less dense than water. It is the basis for the manufacture of diverse products such as gasoline, naphtha, kerosene and lubricants.


A second-generation petrochemical product derived from ethylene. It is a thermoplastic (a type of plastic) resin that can be molded simply by heating. It is used as the raw material in the production of diverse plastic products such as flexible packages, packaging for cleaning and personal hygiene products, bags and flexible packaging films.


A second-generation petrochemical product derived from propylene. It has similar characteristics to polyethylene, but has a higher melting point. It is a thermoplastic resin that is widely used in the automobile industry, in the cabinets of household appliances, fertilizer, seed and cement bags, as well as disposable cups and plates.

PTAX (Dollar):

The exchange rate calculated and announced by the Central Bank of Brazil at the end of each day. It is the average of all dollar-based transactions carried out daily in the interbank exchange market.

Reference Form:

An accounting statement prepared annually and submitted to the CVM. It contains information about the key economic and financial indicators of companies, a summary of the main accounts in the financial statements and other relevant information about the company's operations.

SEC (Securities and Exchange Commission):

The regulatory and monitoring agency for the U.S. capital markets, similar to the CVM in Brazil.

Second Generation:

The producers responsible for processing the basic petrochemicals obtained from naphtha cracking units. The second generation products are known as intermediary petrochemicals, such as thermoplastic resins.

Securities Act:

the U.S. Securities Act.


the average daily lending rate, pegged to federal government bonds, calculated by the Special Settlement and Custody System.

Thermoplastic resins:

resins or plastic components which, as finished materials, are capable of being repeatedly softened by heating and hardened by cooling.

Third Generation:

Consists of producers, also known as "converters", who are responsible for the conversion of intermediary petrochemicals into end products like plastics, acrylic fibers, nylon and disposable packages.


Long-term Interest Rate.


Accounting practices adopted in the United States.