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.
