Braskem's profit in the first quarter exceeds expectations

SÃO PAULO-Braskem exceeded expectations of analysts over its results in the first quarter of 2013 to disclose a net income of r $ 227 million, 9.24% above the average projection of professionals who accompany the petrochemistry. The four houses consulted by Broadcast (Bradesco Corretora, Citi and JPMorgan, Itaú), real-time news service the Agência Estado, pointed on average for a profit of R $ 207,8 million between January and March.
The Ebitda (earnings before interest, taxes, depreciation and amortization) was in line, registering $ 937 million in consolidated criteria against the R $ 930,5 million. The net revenues of r $ 9,296 billion in the period also was close to the estimates of r $ 9,594 billion. The Broadcast is of the opinion that the result is in line with the projections when the change up or down is up 5%.
The gain of $ 227 million of Braskem in the first quarter of this year surpasses in 49% recorded in the same period last year, when the company earned $ 152 million. According to Braskem, the main factors for this expansion were the largest cash generation and the reduction of financial expenses, influenced by exchange rate appreciation in the period.
The Ebitda (earnings before interest, taxes, depreciation and amortization) was $ 937 million in consolidated criterion (or US $ 470 million), an increase of 19% in reais and 6% in dollars over the first quarter of 2012. The Ebitda margin increased from 9.8% to 10.1% in the comparison between first quarters.
Net revenue reached r $ 9,296 billion, 15% higher than the first quarter of 2012. In dollars, was $ 4.7 billion, 2% higher on the same comparison. The net financial result in the period was an expense of $ 107 million, similar to the first quarter of 2012 and 82% less than the $ 596 million in the fourth quarter, explained by Exchange.