EBITDA reaches R$3.2 billion in 2Q18, increasing 5% from 2Q17 and 20% from 1Q18
São Paulo, Brazil, August 8, 2018 - BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 2Q18.
Braskem - Consolidated:
- EBITDA amounted to US$877 million, 7% higher than in 1Q18, due to (i) higher spreads for key chemicals in the international market, for vinyls and for PP in the United States; and (ii) the positive effect from Brazilian real depreciation on costs and expenses pegged to the currency.
- Parent company's net income was R$547 million, corresponding to R$0.69 per common share and class "A" preferred share, down 48% and 50% from 1Q18 and 2Q17, respectively, reflecting local-currency depreciation in the comparison period, which affected the financial result.
- Financial leverage in U.S. dollar of 1.90x.
- Free cash flow of R$3.3 billion.
- In May, R$1.5 billion additional dividends were paid to the holders of common shares and class "A" preferred shares.
- As per the Material Fact notice disclosed on June 15, 2018, Braskem was communicated by Odebrecht S.A., its controlling shareholder, about the beginning of discussions with LyondellBasell, a listed company headquartered in Rotterdam, for a potential transaction involving the transfer to LyondellBasell of the totality of Odebrecht S.A.'s interest in Braskem.
- In 2Q18, average capacity utilization rate of crackers of 90%.
- Brazilian demand for resins (PE, PP and PVC) reached 1.3 million tons in 2Q18, in line with 2Q17.
- Braskem's resin sales in the Brazilian market were 821 kton in 2Q18, decreasing 2% from 2Q17.
- In 2Q18, 320 kton of resins exported, down 13% from 2Q17.
- EBITDA of R$1,784 million.
United States and Europe:
- In 2Q18, the capacity utilization rate stood at 84%, declining 11 p.p. and 8 p.p. from 2Q17 and 1Q18, respectively, reflecting the scheduled shutdown at the Oyster Creek Unit in Texas and operational problems at the Marcus Hook Unit in Pennsylvania.
- EBITDA of US$170 million.
- In 2Q18, the PE plants operated at capacity utilization rate of 72%, down 11 p.p. and 13 p.p. from 2Q17 and 1Q18, respectively, due to lower supply of ethane and a scheduled shutdown.
- In the quarter, PE sales to the Mexican market amounted to 135 kton, up 4% from 2Q17 and down 8% from 1Q18, representing 68% of total sales.
- EBITDA of US$161 million.
To download the full Earnings Release, click here
Braskem will host conference calls to discuss its Results TOMORROW, August 9, at 12:00 p.m. US ET. See connecting details on the Company's IR website.
For further information, contact Braskem's Investor Relations Area: email@example.com, (+55 11) 3576-9531.