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Brazil’s Braskem announces its financial results for Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 07/11/2014 (16:53)
Brazil’s Braskem SA announced its financial results for the third quarter of 2014, according to a press release dated November 6 on the company’s website. The company’s net revenue increased 8% to reach Real 12 billion ($4.65 billion) in the third quarter compared to the previous quarter. Higher sales and average depreciation of 2% in the Brazilian real against the U.S. dollar were cited as the main factors behind the company’s stronger results.

The company’s capacity utilization rate rose 6% on a quarterly basis to 90% while its sales of PE, PP and PVC also grew 5% year over year to 939,000 tons/year in the third quarter of 2014.

The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) was recorded at Real 1.5 billion ($581 million) which the company attributed to better margins on petrochemical products and the growth in sales volume. The company’s net income decreased 42% on a yearly basis to Real 230 million ($89.2 million) when compared to the same period of 2013.
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