Braskem registers record EBITDA of R $3.6 billion in first quarter

Braskem, the largest petrochemical industry in the Americas, registered a new record EBITDA amounted to R $3.6 billion in the first quarter of 2017. The performance meant an improvement of 16% as compared to the same period last year, according to preliminary unaudited results. In dollars, the Company''s EBITDA reached $ $1.1 billion in the period, which accounted for 45% growth in comparison with the first quarter of 2016.
The results prove the consistent implementation of the business strategy of Braskem. Most notably, the occupancy rate of industrial plants was, on average, over 95% in all regions where the company operates, confirming operational excellence in the management of the assets. The petrochemical complex of Mexico, which began operating early last year, brought important contributions to the result, as expected, with operating rate of 97% polyethylene plant in the quarter. In the United States and Europe, the average occupancy rate of polypropylene plants remains strong and reached 101%.
Global petrochemical margins and resins remain a very healthy level and contributed to the first-quarter performance. "The whole world petrochemical industry lives in a special moment, and Braskem, in reason of the great commercial and operational performance, knew how to reap the results of your strategy," says Fernando Musa, President of Braskem. "We attribute these results to all our competent and dedicated teams to get the best returns."
Sales growth
All market segments had sales volume growth in the first quarter. Signs of recovery in demand for brazilian thermoplastic resins have also been identified Braskem 844,000 tons of resins sold in the period, a growth of 8% as compared to the same quarter of 2016 and 2% in comparison with the last quarter of 2016. Even in the face of increased sales in the Brazilian market, exports continued growing resins, totaling 429,000 tons, a rise of 3%. Basic petrochemicals production expanded 5%, with 2,200,000 tons sold. Exports of basic supplies soared 31% and totaled 343,000 tons.
In Mexico, sales amounted to 264,000 tons polyethylene, with approximately of 50% sold in the local market. In the U.S. and Europe, sales from local production reached 541,000 tonnes, 8% higher compared to the first quarter of 2016 and historical record in the quarter.
In the first quarter of 2017, Braskem''s net revenue reached $12.6 billion, a growth of R 4% on the same period last year. With the strategy of geographic diversification, the participation of the Brazilian market in total company revenue was 51%. Of the remainder, 49% of the recipe came with exports Brazil outputs (23%) and of the international units (26%), including USA, Europe and Mexico. The company returned to profit in the quarter, showing a net gain of $1.9 billion consolidated R. The parent company''s net profit was R $1.8 billion.