Braskem announces 4Q13 and FY2013 Results PR Newswire SAO PAULO, Feb. 13, 2014 SAO PAULO, Feb. 13, 2014 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 4Q13 and FY2013. HIGHLIGHTS: oIn 2013, Braskem's resin sales totaled 3.7 million tons, with market share of 68%. oThe average cracker capacity utilization rate was 90%. oPP sales volume at Braskem America grew by 7% in 4Q13 and 3% in 2013, affected by the production growth, the highest since 2011. oConsolidated EBITDA in the last quarter of the year was R$1,175 million. In U.S. dollar, EBITDA was US$521 million, growing approximately 20% from 4Q12 recurring EBITDA. oIn 2013, Braskem recorded EBITDA of R$4,813 million. In U.S. dollar, EBITDA was US$2,217 million, increasing by 11% from 2012. oThe construction of the Mexico project continued to advance, with the complex's physical completion reaching 58%. In November, the subsidiary Braskem-Idesa withdrew the second installment of the project finance in the amount of US$547 million. In 2013, withdrawals amounted to US$2,031 million. oBraskem announced the expansion of one of its polyethylene production lines and the signing of a memorandum of understanding (MOU) with Styrolution for the production of styrenics specialties. oBraskem announced that it entered into an agreement with Solvay for the acquisition of the controlling interest in Solvay Indupa, which has 4 plants producing PVC and caustic soda in Brazil and Argentina. With the acquisition, which is still subject to approval by the countries' regulatory agencies, Braskem: oexpands by 42% its PVC production in the Brazilian market and increases its capacity in the region to 1,250 kton, making it the fourth largest PVC producer in the Americas; oexpands its caustic soda capacity by over 60% to 890 kton. oBraskem posted net income for the year of R$507 million and the Management proposal is for a distribution of dividends in the amount of R$483 million. oBraskem's leverage in U.S. dollar stood at 2.87x, down 12% from 2012. The full earnings release is available on the Company's IR website: www.braskem.com.br/ir Braskem will host conference calls to discuss its Results on Friday, February 14, 2014, at 9:00 a.m. ET in English and 7:00 a.m. ET in Portuguese. See connecting details on the Company's IR website. For further information, contact Braskem's Investor Relations Area: firstname.lastname@example.org, (+55 11) 3576-9531. SOURCE Braskem S.A. Website: http://www.braskem.com.br/ir
Braskem announces 4Q13 and FY2013 Results
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