(Braskem, 13.Mar.2019) — Braskem S.A. announced its results for 4Q18 and 2018.
HIGHLIGHTS:
Braskem – Consolidated:
— The company posted free cash flow of R$7,068 million, or 187% more than in 2017.
— The company posted EBITDA of US$ 3,105 million.
— Net income was R$2,867 million, down 30% from 2017, corresponding to R$3.60 per common share and class “A” preferred share.
— Financial leverage measured by the ratio of net debt to EBITDA in U.S. dollars ended 2018 at 2.06x.
— The company’s management is proposing to the Annual Shareholders Meeting, to be held on April 16, 2019, the distribution of dividends in the amount of R$2,670 million related to fiscal year 2018, equivalent to 100% of the net income distributable to shareholders.
— The recordable and lost-time injury frequency rate (CAF+SAF) per million hours worked considering both Members and Partners was 1.07 in the year, which is 66% below the industry average.
Brazil:
— Demand for resins (PE, PP and PVC) came to 5.2 million tons, up 2.4% from 2017.
— In 2018, Braskem’s crackers operated at an average capacity utilization rate of 91%, down 3 p.p. from 2017.
— In this scenario, resin sales in Brazil came to 3.4 million tons, down 2% from 2017; and sales of key chemicals were 1% higher than 2017.
— In 2018, the units in Brazil (including exports) posted an EBITDA of US$1,905 million (R$6,985 million), accounting for 61% of the company’s consolidated EBITDA from all segments.
United States and Europe:
— PP demand in the U.S. market grew about 3% in comparison to 2017.
— Plants in the region operated at an average capacity utilization of 87%, down 10 p.p. from 2017.
— In the year, the units in the United States and Europe posted an EBITDA of US$608 million (R$2,208 million), representing 19% of the company’s consolidated EBITDA.
Mexico:
— PE Demand in Mexico was 2.1 million tons, representing growth of 2.7% in relation to 2017.
— The PE plants operated at a capacity utilization rate of 77%, down 11 p.p. from 2017, due to the lower supply of ethane in the period and the scheduled shutdown in May.
— In the year, the Mexico unit posted EBITDA of US$617 million (R$2,251 million), representing 20% of the company’s consolidated EBITDA.
The full earnings release is available on the company’s IR website: http://www.braskem-ri.com.br/home-en
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