This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Braskem Announces 3Q12 Results

SAO PAULO, Nov. 8, 2012 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK announces today its results for 3Q12.

HIGHLIGHTS:

  • Braskem's sales followed the upward trend in the petrochemical industry, growing 19%. Compared to 3Q11, the domestic market expanded by 1%, while Company's sales were up 11%, reflecting the efforts to expand its domestic market share.
  • Crackers operated at an average utilization rate of 92% in 3Q12, increasing 4 p.p. from 2Q12, responding to the stronger demand from second-generation assets.
  • EBITDA in 3Q12 was R$930 million, up 10% compared to the previous quarter, benefiting from the continued dollar appreciation and the higher sales volume, which partially offset the lower spreads in the international market. On a recurring basis, EBITDA increased 26% compared to 2Q12. In U.S. dollar, EBITDA was US$459 million.
  • The butadiene plant expansion, which was commissioned in June, has reached its production level as planned. The new PVC plant continues to ramp up its production as scheduled, and is already operating at around 80% capacity.
  • In October, the controlled Braskem Idesa has concluded with the joint venture formed by Odebrecht (40%), Technip (40%) and ICA Fluor (20%) the contract for the completion of engineering, procurement and construction services of the petrochemical complex in Mexico.
  • Braskem prepaid certain loans, among them some from BNDES, in the amount of R$400 million, in line with its strategy of maintaining only the competitive debts in its portfolio.

The full earnings release is available on the Company's IR website: www.braskem.com.br/ir

Braskem will host conference calls to discuss 3Q12 Results TOMORROW , November 9, 2012, at 9:00 a.m. ET in English and 7:00 a.m. ET in Portuguese. See connecting details on the Company's IR website.

For further information, contact Braskem's Investor Relations Area:  

Stock quotes in this article: BAK 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs