Brazil's Braskem reports Q1 EBITDA of R583m

07 May 2008 23:11  [Source: ICIS news]

HOUSTON (ICIS news)--Brazilian resin producer Braskem reported on Wednesday first-quarter earnings of Brazilian reais (R) 583m ($351m) before interest, taxes, depreciation and amortisation (EBITDA).

Net income reached R83m for the quarter, Braskem said.

First-quarter highlights include a 7% sales growth in domestic resin sales, R77m in captured synergies and progress in the company's green polymer project.

In addition, Braskem inaugurated its Paulinia unit, concluded the acquisition of Ipiranga Group's petrochemical assets. Braskem also completed the sale of its stake in Petroflex.

($1 = R1.66)

By: Al Greenwood
+1 713 525 2645

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