Braskem's Recurring EBITDA in the quarter was US$187 million, 34% higher than 2Q23

Rhea-AI Summary

Braskem (NYSE: BAK) reports a 108% utilization rate in green ethylene production, with a 34% increase in recurring EBITDA to US$ 187 million compared to 2Q23.

Positive

• Higher recurring EBITDA of US$ 187 MM, a 34% increase from 2Q23
• Utilization rate of 108% in green ethylene production, indicating operational efficiency and capacity expansion

Negative

• None.

Green PE's operational performance was above nominal capacity of 260,000 tons/year with utilization rate of 108% in the quarter

SÃO PAULO, Nov. 9, 2023 /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 3Q23 Earnings Release.

3Q23 HIGHLIGHTS 

CONSOLIDATED

• Recurring EBITDA of US$ 187 MM, around R$921 million. Higher than 2Q23 (US$ 140 MM) and lower than 3Q22 (US$ 371 MM).
• Liquidity of US$ 3.4 bi, guaranteed coverage of debt maturities over the next 75 months.
• Resin Sales – Brazil: Increase in sales volume of PE, PP and PVC by 12%, compared to 2Q23. 9% growth in demand for resins in Brazil in 3Q23 compared to 2Q23.
• Production of green ethylene: Utilization Rate of 108%, +24 p.p. vs. 2Q23 and +6 p.p. vs. 3Q22. Expansion of production capacity concluded in 2Q23.

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

Braskem will host conference calls to discuss its Results Thursday, November 09 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.

 

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SOURCE Braskem

What is Braskem's ticker symbol on the NYSE?

Braskem's ticker symbol on the NYSE is BAK.

What was the recurring EBITDA in 3Q23?

The recurring EBITDA in 3Q23 was US$ 187 million, a 34% increase from 2Q23.

What was the utilization rate in green ethylene production in 3Q23?

The utilization rate in green ethylene production was 108% in 3Q23.