Braskem Announces EBITDA of R$458 Million in 1Q09By Prne, Gaea News Network
Tuesday, May 5, 2009
SAO PAULO - BRASKEM S.A. (NYSE: BAK; BOVESPA: BRKM3, BRKM5 and BRKM6; LATIBEX: XBRK), the leading company in the thermoplastic resins industry in Latin America and third-largest resin producer in the Americas, announces today its results for the first quarter of 2009 (1Q09).
HIGHLIGHTS OF THE PERIOD:
– With the recovery in demand, especially in the export market, Braskem gradually increased its capacity utilization during 1Q09, with production returning to full capacity in March.
– Braskem’s resin export volume in 1Q09 increased to 252,000 tons, mainly to China, representing growth of 106% over the same quarter in 2008 and of 116% against the previous quarter.
– Net Revenue of R$3.2 billion in the 1Q09.
– EBITDA of R$458 million in 1Q09, with EBITDA margin of 14.5%.
– In March, Braskem raised R$600 million from Caixa Economica Federal, with cost of 117.5% of the CDI overnight rate.
– Braskem laid the cornerstone for its green ethylene plant (under the Green PE project) installed at the Triunfo Petrochemical Complex on April 22, 2009.
– On May 5, 2009, Braskem incorporated Petroquimica Triunfo.
– On May 5, 2009, Braskem’s Board of Directors approved the new naphtha supply agreement with Petrobras. The new agreement has a duration of five years, renewable for another five and represents an important step forward in terms of reducing raw material price volatility.
Full earnings release is available on the Company’s IR website: www.braskem.com.br/ir
Braskem will host conference calls to discuss 1Q09 results TOMORROW, May 7, 2009, at 10:30 a.m. EDT in English and 9:00 a.m. EDT in Portuguese. See connection details on the Company’s IR website at www.braskem.com.br/ir
For further information, please contact Braskem’s Investor Relations Area:
Luciana Paulo Ferreira, +55-11-3576-9178, email@example.com Cintia Watai, +55-11-3576-9615, firstname.lastname@example.org Marina Dalben, +55-11-3576-9716, email@example.com
Source: BRASKEM S.A.
Luciana Paulo Ferreira, +55-11-3576-9178, luciana.ferreira at braskem.com.br, or Cintia Watai, +55-11-3576-9615, cintia.watai at braskem.com.br, or Marina Dalben, +55-11-3576-9716, marina.dalben at braskem.com.br, all of Braskem
Tags: BRASKEM S.A., Brazil, England, Sao paulo