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Brazil’s Braskem announces its financial results for Q4

by ChemOrbis Editorial Team - content@chemorbis.com
  • 13/02/2015 (17:46)
Brazil’s Braskem SA announced its financial results for the last quarter of 2014, according to a press release dated February 12 on the company’s website. The company’s net revenue increased 12% to reach R$46 billion ($16.28 billion) in the fourth quarter when compared to the previous three months. Higher sales in the US and European markets, the recovery in international resin prices as well as the depreciation of the Brazilian real against the U.S. dollar were cited as the main factors behind the company’s stronger results.

However, the company’s capacity utilization rate fell 4% on a yearly basis to 86% because of scheduled maintenance shutdowns of its crackers in Triunfo, Rio Grande do Sul and Mauá, São Paulo as well as the limited supply of gas feedstock at the complex in Duque de Caxias, Rio de Janeiro. Brazilian demand for thermoplastics declined 1% to 5.3 million tons compared with 2013. Braskem’s PP sales to Europe and the US were up 4% to reach 1.9 million tons when compared to the previous year.

The company’s consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) was reported at R$5.6 billion ($1.98 billion) in 2014 and R$1.4 billion ($530 million) in the fourth quarter.
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