SAO PAULO -
BRASKEM S.A. (BOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), the leading company in the thermoplastic resins industry in Latin America and third-largest resin producer in the Americas, announces today its results for the third quarter of 2009 (3Q09).
HIGHLIGHTS OF THE PERIOD:
– Domestic resins sales volume grew 10% in the quarter, led by PP and PVC, which posted growth of 15% and 17%, respectively. The company also registered a record high for PP sales in a single quarter, with domestic sales volume of 202 kton.
– Net revenue in U.S. dollar up 22% to US$ 2.2 billion, reflecting the continued strong performance of the domestic market, driven by a recovery in prices for both resins and basic petrochemicals. For the same reasons, EBITDA was R$838 million, with EBITDA margin of 20.7% in the quarter.
– Braskem operates its crackers at full capacity in the quarter with an average utilization rate of 97%. In 3Q09, the Company once again registered record ethylene production at the crackers located in the Camacari Complex, in the state of Bahia.
– Fixed costs reduction reached R$ 98 million in General & Administrative expenses for 9M09, 19% lower when compared to 9M08.
– The spin-off of QuantiQ’s polymer unit on September 1, 2009 resulted in the creation of Varient, Braskem’s new resin distributor, which will create more value for clients and to the business by focusing and specializing in thermoplastic resin sales.
– Braskem is currently negotiating contracts for approximately 60% of the ethanol needed to supply its ETBE and green ethylene (Green PE) plants.
The full earnings release is available on the Company’s IR website: www.braskem.com.br/ir
Braskem will host conference calls to discuss 3Q09 results TOMORROW, November 4, 2009, 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 at www.braskem.com.br/ir
For further information, please contact Braskem’s Investor Relations Area:
Luciana Paulo Ferreira, (+55-11) 3576-9178, luciana.ferreira@braskem.com.br Roberta Pimphari Varella, (+55-11) 3576-9266, roberta.varella@braskem.com.br Cintia Watai, (+55-11) 3576-9615, cintia.watai@braskem.com.br Marina Dalben, (+55-11) 3576-9716, marina.dalben@braskem.com.br
Source: Braskem S.A.
Luciana Paulo Ferreira, +55-11-3576-9178, luciana.ferreira at braskem.com.br, or Roberta Pimphari Varella, +55-11-3576-9266, roberta.varella at braskem.com.br, or Cintia Watai, +55-11-3576-9615, cintia.watai at braskem.com.br, or Marina Dalben, +55-11-3576-9716, marina.dalben at braskem.com.br, all of Braskem Investor Relations
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