Braskem announces unaudited preliminary 2016 Results
February 22 2017 - 1:48AM
PR Newswire (US)
SAO PAULO, Feb. 22, 2017 /PRNewswire/ -- BRASKEM
S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK;
LATIBEX: XBRK) announces today its non-audited preliminary results
for 2016.
HIGHLIGHTS:
Brazil:
- Demand for resins (PE, PP and PVC) in 4Q16 was 1.2 million
tons, up 13% on 4Q15. In the year, the demand was 4.9 million tons,
contracting 1% in relation to 2015.
- The Company's crackers operated at an average capacity
utilization rate in 2016 of 92%, increasing 3 p.p. from 2015 and
setting a new record for the Company.
- Resin production stood at 4.9 million tons, up 4% compared to
2015.
- Braskem's exports in the year amounted to 1.7 million tons,
expanding 24% from 2015, and setting a new record for the
Company.
- In 4Q16, the units in Brazil,
including exports, posted EBITDA of R$1,821
million and R$8,485 million in
the year, which corresponds to 74% of consolidated EBITDA.
United States and
Europe:
- In 2016, the PP plants in the United
States and Europe operated
at an average capacity utilization rate of 100%, up 2 p.p. from
2015, reflecting the units' good operating efficiency. Resin
production in the year reached 2 million tons, up 2% on 2015,
setting a new record.
- The units in the United States
and Europe posted EBITDA of
US$103 million (R$338 million) in 4Q16. In the year, EBITDA was
US$696 million (R$2,463 million), or 21% of the Company's
consolidated EBITDA.
Mexico:
- The polyethylene plants operated at an average capacity
utilization rate of 73% in 4Q16, up 10 p.p. from 4Q15. In the year,
the average capacity was 42%, which is in line with the Company's
expectation for the complex's ramp-up.
- In 4Q16, EBITDA was US$104
million (R$343 million). In
2016, EBITDA was US$165 million
(R$537 million), or 5% of the
Company's consolidated EBITDA.
Braskem - Consolidated:
- In 2016, Braskem set new records for EBITDA in both Brazilian
real and U.S. dollar, of R$11,508
million and US$3,312 million.
In 4Q16, EBITDA in both Brazilian real and U.S. dollar, was
R$2,385 million and US$729 million, respectively.
- In 4Q16, Braskem posted a net loss of R$2,637 million in the Consolidated and
R$2,552 million in the Parent
Company. In 2016, Braskem posted a net loss of R$768 million in the Consolidated and
R$452 million in the Parent
Company.
- Corporate leverage stood at 1.67, down 13% from 2015.
- In December 2016, the Company
concluded the global settlement with the Brazilian Federal
Prosecution Office, the U.S. Department of Justice, the U.S.
Securities and Exchange Commission and the Swiss Office of the
Attorney General to resolve the wrongdoings involving the Company
in connection with Operation Car Wash. Under the global agreement,
the Company will pay the applicable authorities in Brazil and abroad approximately US$957 million, equivalent to approximately
R$3.1 billion.
The full earnings release is available on the Company's IR
website: www.braskem.com.br/ir
Braskem will host conference calls to discuss its Results TODAY,
February 22, at 01:30 p.m. US ET. See connecting details on the
Company's IR website.
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SOURCE BRASKEM S.A.
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