Brazil’s Braskem narrows Q3 net loss, revenues rise 9%

08 November 2012 13:35  [Source: ICIS news]

HOUSTON (ICIS)--Braskem’s third-quarter net loss narrowed to reais (R) 124m ($61m), from R1.05bn in the same period a year ago, mainly because of lower charges for foreign exchange exposure to the US dollar, the Brazilian petrochemicals major said on Thursday.

Braskem’s gross profit for the three months ended 30 September was R957m, up 4% year on year, on net revenues of R9.45bn, up 9% on the same period in 2011.

Braskem’s earnings before interest, tax, depreciation and amortisation (EBITDA) were down 1% year on year to R930m.

But third-quarter EBITDA was up 10% sequentially from the 2012 second quarter because of higher sales volumes in Braskem’s domestic Brazilian market. The company operated its crackers at an average utilisation rate of 92% in the third quarter, it added.

($1 =  R2.04)

By: Stefan Baumgarten
+1 713 525 2653

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