Braskem Announces EBITDA of R$4.1 Billion in 2010, Up 27% From 2009
By Braskem S.a., PRNEWednesday, March 16, 2011
SAO PAULO, March 17, 2011 - BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX:
XBRK) announces today its results for 4Q10 and FY2010.
HIGHLIGHTS:
-- Braskem consolidated EBITDA stood at R$ 1.1 billion in the last
quarter of the year.
-- Quattor's crackers operated at capacity utilization rates above 90% in
4Q10, led by the Rio de Janeiro unit (former Riopol), which recorded
an average utilization rate of 93%, making Quattor EBITDA reach R$361
million in 2010, for EBITDA margin of 20.2%.
-- Braskem posted record-high production volume in October and December
at its Polyethylene plants in the Triunfo Petrochemical Complex.
-- New synergies resulted from Quattor acquisition were identified and
are expected to total R$495 million in annual and recurring EBITDA to
be fully captured by 2012. For 2011, R$377 million are estimated to be
captured.
-- Braskem's net debt/EBITDA ratio maintained its downward path to reach
2.43x, down 8% from 3Q10 and 32% in relation to 2009.
-- The restructuring of Braskem debt profile lengthened its average debt
term to 12.5 years, with a cost of debt around 6.6% in dollar terms
and 83.4% of CDI in Brazilian real.
-- Braskem recorded net income of R$1.9 billion in 2010, and, based on
this result, the Company's management is proposing the distribution of
R$666 million in dividends, or 40% of adjusted net income.
-- On February 23, 2011 the Board of Directors of the Administrative
Council of Economic Defense (CADE - Brazil's Antitrust Authority)
fully approved the acquisition of Quattor Participacoes S/A, Unipar
Comercial e Distribuidora S.A. and Polibutenos S/A Industrias
Quimicas.
The full earnings release is available on the Company's IR website:
www.braskem.com.br/ir
Braskem will host conference calls to discuss 4Q10 and FY2010 results
TOMORROW, March 18, 2011, at 11:00 a.m. ET in English and 9:00 a.m. ET in
Portuguese. See connecting details on the Company's IR website.
For further information, contact Braskem's Investor Relations Area:
Luciana Paulo Ferreira, +55-11-3576-9178, luciana.ferreira@braskem.com.br
Roberta Pimphari Varella, +55-11-3576-9266,
roberta.varella@braskem.com.br
Daniela Balle de Castro, +55-11-3576-9615, daniela.castro@braskem.com.br
Marina Dalben, +55-11-3576-9716, marina.dalben@braskem.com.br
Isabella Alves, +55-11-3576-9010, isabella.alves@braskem.com.br
Braskem's Investor Relations Area: Luciana Paulo Ferreira, +55-11-3576-9178, luciana.ferreira at braskem.com.br, Roberta Pimphari Varella, +55-11-3576-9266, roberta.varella at braskem.com.br, Daniela Balle de Castro, +55-11-3576-9615, daniela.castro at braskem.com.br, Marina Dalben, +55-11-3576-9716, marina.dalben at braskem.com.br, Isabella Alves, +55-11-3576-9010, isabella.alves at braskem.com.br
Tags: BRASKEM S.A., Brazil, March 17, Sao paulo