Braskem posts Recurring EBITDA of US$230 million in the quarter, 9% higher than 4Q23 and 12% higher than 1Q23
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.
News Market Reaction
On the day this news was published, BAK declined 1.52%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SÃO PAULO, May 9, 2024 /PRNewswire/ -- BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) the largest resin producer in the
1Q24 HIGHLIGHTS
CONSOLIDATED
- Recurring EBITDA of
US , around$230 million R , higher than 4Q23 (+$1,140 million 9% ) and 1Q23 (+12% ). - Cash position of
US , ensuring coverage of debt maturities over the next 69 months.$3.3 billion - Operating Cash Generation¹ of
US , around$196 million R , higher than 4Q23 ($972 million +US MM) and 1Q23 ($129 +US MM).$254 - 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
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