Record free cash flow of R$7.1 billion in 2018, advancing 187% from 2017
São Paulo, Brazil, March 13, 2019 - BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 4Q18 and 2018.
Braskem - Consolidated:
- The Company posted free cash flow of R$7,068 million, or 187% more than in 2017.
- The Company posted EBITDA of US$ 3,105 million.
- Net income was R$2,867 million, down 30% from 2017, corresponding to R$3.60 per common share and class "A" preferred share.
- Financial leverage measured by the ratio of net debt to EBITDA in U.S. dollar ended 2018 at 2.06x.
- The Company's management is proposing to the Annual Shareholders Meeting, to be held on April 16, 2019, the distribution of dividends in the amount of R$2,670 million related to fiscal year 2018, equivalent to 100% of the net income distributable to shareholders.
- The recordable and lost-time injury frequency rate (CAF+SAF) per million hours worked considering both Members and Partners was 1.07 in the year, which is 66% below than the industry average.
- Demand for resins (PE, PP and PVC) came to 5.2 million tons, up 2.4% from 2017.
- In 2018, Braskem's crackers operated at an average capacity utilization rate of 91%, down 3 p.p. from 2017.
- In this scenario, resin sales in Brazil came to 3.4 million tons, down 2% from 2017; and sales of key chemicals were 1% higher than 2017.
- In 2018, the units in Brazil (including exports) posted an EBITDA of US$1,905 million (R$6,985 million), accounting for 61% of the Company's consolidated EBITDA from all segments.
United States and Europe:
- PP demand in the U.S. market grew about 3% in comparison to 2017.
- Plants in the region operated at an average capacity utilization of 87%, down 10 p.p. from 2017.
- In the year, the units in the United States and Europe posted an EBITDA of US$608 million (R$2,208 million), representing 19% of the Company's consolidated EBITDA.
- PE Demand in Mexico was 2.1 million tons, representing growth of 2.7% in relation to 2017.
- The PE plants operated at a capacity utilization rate of 77%, down 11 p.p. from 2017, due to the lower supply of ethane in the period and the scheduled shutdown in May.
- In the year, the Mexico unit posted EBITDA of US$617 million (R$2,251 million), representing 20% of the Company's consolidated EBITDA
The full earnings release is available by clicking here
Braskem will host conference calls to discuss its Results TOMORROW, March 14, at 01:00 p.m. US ET. See connecting details below:
4Q18 and 2018 Conference Call / Webcast
(only in english)
March 14, 2019 (Thursday)
12:00 p.m. (US ET)
01:00 p.m. (Brasília)
09:00 a.m. (Los Angeles)
04:00 p.m. (London)
Participants: +1 (646) 843 6054 or +55 (11) 2188-0155
Click here for the webcast
For further information, contact Braskem's Investor Relations Area: email@example.com , (+55 11) 3576-9531.