BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 4Q14 and FY2014.
HIGHLIGHTS:
- In 4Q14, the Brazilian demand for thermoplastic resins (PE, PP, PVC) stood at 1.3 million tons, 5% down when compared to 3Q14, reflecting the usual period seasonality. In 2014, the resin market reached 5.3 million tons, 1% lower than in 2013. Braskem's resin sales followed the market trend, totaling 850 thousand tons in the quarter and 3.6 million tons in 2014.
- PP sales of the USA and Europe business unit decreased 4% from 3Q14, influenced by the postponement of a portion of purchases in the quarter. In 2014, sales volume grew 4% to 1,863 kton.
- Braskem's consolidated EBITDA reached R$1,352 million, down 10% from 3Q14. In U.S. Dollar, EBITDA was US$536 million. Compared to 4Q13, EBITDA increased 19% in Brazilian real and 6% in U.S. dollar.
- In 2014, Braskem recorded EBITDA of R$5,620 million. The Brazilian real depreciation and the recovery in petrochemical spreads in the international market were the main factors responsible for this performance. In U.S. dollar, EBITDA increased 8% from 2013, to US$2,392 million.
- Braskem's leverage, in U.S. dollar, stood at 2.58x, down 10% from the previous year. In Brazilian real, the leverage ratio stood at 2.92 times, down 6%.
- On December 2014, Braskem contracted a new revolving credit facility in the amount of US$ 750 million, with a 5-year term.
- In 2014, Braskem recorded net income of R$726 million
- The Mexico project continued to advance, with construction reaching 88% completion.
- The Plastics Chain Competitiveness Incentive Plan (PICPlast), made progress with the launch of the Sector Fund, which will promote the plastic image.
- For the tenth consecutive time, Braskem was selected a component of the Corporate Sustainability Index (ISE) of the Sao Paulo Stock Exchange (BM&FBovespa).
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