IHS Chemical Week

People & Business :: Earnings/Finance

Braskem's net profit up 70% on operational efficiencies, divestments

9:15 AM MDT | May 8, 2014 | Francinia Protti-Alvarez

Braskem's quarter-one net profit grew 70% year-on-year (YOY), to 396 million reais ($177.5 million), partly resulting from the sale of the water treatment unit at the Triunfo, Brazil petrochemical complex earlier this year and partly from operational efficiencies, the company announced today. Consolidated Ebitda stood at R$1.64 billion, up 44% YOY, as a result of divestments and the stability in petrochemical spreads in the international market, the company says. Meanwhile, net revenue increased 25% YOY, to R$11.8 billion, driven by a 4% US dollar appreciation...

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