Braskem posts Recurring EBITDA of US$230 million in the quarter, 9% higher than 4Q23 and 12% higher than 1Q23

Braskem, the largest resin producer in the Americas, reported a recurring EBITDA of US$230 million in 1Q24, a 9% increase from 4Q23 and a 12% increase from 1Q23.

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Rhea-AI Summary

Braskem, the largest resin producer in the Americas, reported a recurring EBITDA of US$230 million in 1Q24, a 9% increase from 4Q23 and a 12% increase from 1Q23. The company also highlighted a cash position of US$3.3 billion, operating cash generation of US$196 million, and an increase in green PE production utilization rate. Braskem's full earnings release can be found on their IR website.

Positive

Recurring EBITDA increased by 9% from 4Q23 and 12% from 1Q23, reaching US$230 million in 1Q24.
Cash position of US$3.3 billion provides coverage for debt maturities over the next 69 months.
Operating cash generation rose to US$196 million in 1Q24, a significant increase from both 4Q23 and 1Q23.
Green PE production utilization rate improved to 98%, showing positive growth compared to previous quarters.

Negative

None.

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05/09/2024 - 01:45 AM

SÃO PAULO, May 9, 2024 /PRNewswire/ -- BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) the largest resin producer in the Americas and the world's leading biopolymers producer, presents its 1Q24 Earnings Release.

1Q24 HIGHLIGHTS

CONSOLIDATED

Recurring EBITDA of US$230 million, around R$1,140 million, higher than 4Q23 (+9%) and 1Q23 (+12%).
Cash position of US$3.3 billion, ensuring coverage of debt maturities over the next 69 months.
Operating Cash Generation¹ of US$196 million, around R$972 million, higher than 4Q23 (+US$129 MM) and 1Q23 (+US$254 MM).
Green PE Production: utilization Rate of 98%, +36 p.p. vs. 4Q23 and +89 p.p. vs. 1Q23. Normalization of green ethylene supply after restrictions in 4Q23 due to the climate conditions.

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

Braskem will host conference calls to discuss its Results Thursday, May 9 at 10:00 a.m. US ET.

Additional information may be obtained from the Investor Relations Department at +55 11 3576-9531 or braskem-ri@braskem.com.br.

¹ Operating Cash Generation (=) Recurring EBITDA (-) Operational CAPEX (-) Strategic Investments (+/-) Changes in Working Capital.

View original content:https://www.prnewswire.com/news-releases/braskem-posts-recurring-ebitda-of-us230-million-in-the-quarter-9-higher-than-4q23-and-12-higher-than-1q23-302140877.html

SOURCE Braskem

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was Braskem's recurring EBITDA in 1Q24?

Braskem's recurring EBITDA in 1Q24 was US$230 million.

How does Braskem's 1Q24 EBITDA compare to 4Q23 and 1Q23?

Braskem's 1Q24 EBITDA was 9% higher than 4Q23 and 12% higher than 1Q23.

What is Braskem's cash position in 1Q24?

Braskem's cash position in 1Q24 was US$3.3 billion.

Where can the full earnings release be accessed?

The full earnings release can be found on Braskem's IR website.

Braskem posts Recurring EBITDA of US$230 million in the quarter, 9% higher than 4Q23 and 12% higher than 1Q23