São Paulo, Brazil, November 09, 2017 - BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 3Q17.
- EBITDA: US$ 868 million (R$2,746 million), down 8% from 2Q17, due to the capital gain from the sale of quantiQ, amounting to US$88 million.
- Recorded free cash flow of R$1,068 million in 3Q17, up 6% from 2Q17.
- Corporate leverage in U.S. dollar stood at 1.65x, or 1.82x including the financial penalty under the Global Settlement.
- Net income of R$799 million in the Parent Company in 3Q17. YTD, net income attributable to shareholders came to R$3,697 million, corresponding to earnings of R$4.64 per common share and class "A" preferred share.
- In 3Q17, crackers operated at an average capacity utilization rate of 92%, down 1 p.p. from 2Q17, due to the scheduled shutdown of the Rio de Janeiro cracker.
- Brazilian demand for resins (PE, PP and PVC) reached 1.3 million tons in 3Q17, growing 6% in relation to 2Q17.
- Sales in the Brazilian market: 915 thousand tons, an increase of 10% and 3% from the 2Q17 and the 3Q16 respectively.
- Resin exports amounted to 396 kton, increasing 8% in relation to 2Q17 and decreasing 6% in relation to 3Q16. Exports of Main Chemicals came to 175 kton, representing decreases of 3% from 2Q17 and 10% from 3Q16.
- EBITDA of R$1.930 million (US$610 million), including the results from exports, accounting for 67% of the Company's consolidated EBITDA from all segments.
United States and Europe:
- Capacity utilization rate of 94%, down 1 p.p. and 7 p.p. from 2Q17.
- Sales: 548 kton, increasing 6% and 9% from 2Q17 and 3Q16 respectively.
- EBITDA: US$164 million (R$519 million), 18% of the Company's consolidated EBITDA from all segments.
- PE plants operated at an average capacity utilization rate of 87%, an increased 4 p.p. from 2Q17.
- PE Production amounted to 230 thousand tons, 6% higher than in the 2Q17.
- PE sales: 236 kton, 65% sold in the Mexican market.
- EBITDA: US$136 million (R$429 million), representing 15% of the Company's consolidated segments.
To access the full Earnings Release, click here .
Braskem will host conference calls to discuss its Results TODAY, November 09, at 12:00 p.m. US ET.