Braskem Announces EBITDA of R$4.1 Billion in 2010, Up 27% From 2009By Braskem S.a., PRNE
Wednesday, March 16, 2011
SAO PAULO, March 17, 2011 - BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX:
XBRK) announces today its results for 4Q10 and FY2010.
-- Braskem consolidated EBITDA stood at R$ 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:
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, firstname.lastname@example.org Roberta Pimphari Varella, +55-11-3576-9266, email@example.com Daniela Balle de Castro, +55-11-3576-9615, firstname.lastname@example.org Marina Dalben, +55-11-3576-9716, email@example.com Isabella Alves, +55-11-3576-9010, firstname.lastname@example.org
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