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People & Business :: Companies

Braskem Swings to Loss

10:08 AM MDT | March 15, 2012 | Vincent Valk

Braskem swung to a fourth-quarter net loss of R$201 million ($112 million), compared with profit of R$356 million ($198 million) in the year-ago period. The loss was due to declining demand in thermoplastic resins, and unfavorable currency impacts. Net revenues rose 25% year-on-year, to R$8.7 billion ($4.85 billion), due to higher prices. In U.S. dollars, net revenue rose by 18%. Ebitda fell 24%, to R$718 million ($396 million).   Braskem expects the petrochemical sector to “remain pressured” in the first quarter, the company says. “Demand...

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