EBITDA reaches US$909 million in 3Q18, increasing 5% from 3Q17 and 4% from 2Q18
SÃO PAULO, Nov. 12, 2018 /PRNewswire/ -- BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), the leading resin producer in the Americas, announces today its 3Q18 results.
HIGHLIGHTS:
Consolidated:
EBITDA in 3Q18 was US$909 million, up 4% from 2Q18 due to sales recovery in Brazil following the end of the truck drivers' strike and by the higher sales volume in the United States and Mexico, that were affected by lower production volume in 2Q18.
Net income came to R$1,344 million, growing 146% and 68% compared to 2Q18 and 3Q17, respectively.
Reduction of financial leverage measured by the ratio of net debt to EBITDA in U.S. dollar from 1.90x in 2Q18 to 1.81x this quarter.
US$200 million partially redeemed in perpetual bonds, in line with the Company efforts to reduce the cost of debt.
Free cash flow in the quarter of R$1.5 billion.
Recordable and lost-time injury frequency rate per million hours worked was 0.99.
As per the Material Fact notice dated September 24, Braskem was informed by Odebrecht, its controlling shareholder, that the shareholders' agreement dated February 8, 2010 was amended to include the preferred shares held by Petrobras in the tag-along rights provision set forth in Clause 7.12 of the agreement.
Consistent with best practices of corporate governance, two new independent directors were elected to the Board of Directors. As a result, eight of the 11 directors are now independent.
BRAZIL:
Crackers operated at an average capacity utilization rate of 95% in 3Q18.
Resin demand in the Brazilian market (PE, PP and PVC) was 1.4 million tons in 3Q18, higher than presented in the 2Q18.
Braskem resin sales in the Brazilian Market amounted to 917 kton, increasing 12% from 2Q18.
358 kton of resins exported, 12% higher than in 2Q18.
EBITDA of US$560 million.
UNITED STATES AND EUROPE:
In 3Q18, the capacity utilization rate was 87%, up 3 p.p. from 2Q18, reflecting lower downtimes caused by unscheduled shutdowns.
EBITDA of US$182 million.
México:
In 3Q18, the PE plants operated at a capacity utilization rate of 78%, 6 p.p. higher than in 2Q18, and declined 9 p.p. compared to 3Q17.
In the quarter, PE sales in the Mexican market amounted to 136 kton, representing 67% of total sales.
January?March 2024 compared with January?March 2023
Net sales declined to SEK 4,558m (4,813). The sales decrease was mainly due to lower selling prices. Delivery volumes increased compared with the preceding year due to a gradual ramp up of...
Today, Green Energy Park announces a major milestone on its journey to build one of the largest hydrogen and hydrogen derivatives production plants in the world. The company has signed a definitive agreement for 30 million US Dollars Series-A funding...
Southern Energy Corp. ("Southern" or the "Company") (AIM:SOUC), an established producer with natural gas and light oil assets in Mississippi, announces its fourth quarter and year end December 31, 2023 financial and operating...
Metro Storage LLC, a leading provider of storage solutions, is proud to announce its Green Initiative aimed at advancing sustainability in its operations. The company is investing in cutting-edge rooftop solar energy panels at select Metro Self...
Bristow Group Inc. , the global leader in innovative and sustainable vertical flight solutions, today announced it will release its first quarter 2024 financial results and selected financial outlook for 2025 and 2026 after market close on Tuesday,...