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Petrochemical major Braskem Q2 sales stay stable
Aug '13
Braskem announces results for the second quarter.

Net Revenue

In 2Q13, Braskem’s consolidated net revenue was US$4.6 billion, similar to the previous quarter. In Brazilian real, net revenue amounted to R$9.5 billion, increasing 2% from 1Q13, driven by higher sales volume, which offset the lower resale volume and the reduction in the average price of basic petrochemicals that followed the international market trend. Excluding resale volume from the analysis, net revenue in 2Q13 was stable in U.S. dollar and increased 4% in Brazilian real.

Compared to 2Q12, consolidated net revenue in U.S. dollar was 1% higher. Measured in Brazilian real, consolidated net revenue grew by 6%, benefitting from the average U.S. dollar appreciation of 5% in the period and from the higher sales of resins and basic petrochemicals between the periods.

Export sales revenue in 2Q13 amounted to US$2.0 billion, stable in relation to the previous quarter. Compared to the same period of 2012, export sales revenue declined 6%, impacted by the lower resale volume and higher allocation of resin sales to the Brazilian market.

In 1H13, Braskem’s consolidated net revenue totaled US$9.3 billion. In Brazilian real, revenue was R$18.8 billion, increasing 11% from the prior-year period, due to the higher sales volume and U.S. dollar appreciation.

Export revenue in the period was US$3.9 billion, down 6% from 1H12, which is basically explained by the lower resale volume.



- In 2Q13, the Brazilian resin market (PE, PP, PVC) reached 1.4 million tons, up 10% from the first quarter of the year, driven by the solid performance of the agribusiness, automotive and infrastructure sectors, as well as the rebuilding of inventories across the chain. Braskem’s resin sales came to 947 kton, a growth of 3%. Compared to 2Q12, which had been affected by local economic slowdown, the market grew 26% and the Company's sales 19%.

- The average capacity utilization of Braskem’s crackers stood at 94%, increasing 4 p.p. from 1Q13, explained by the improvement in operating efficiency between the periods. Capacity utilization also benefited from the provisional measure of May 8, which reduced the PIS and COFINS tax rates on raw material purchases.

- EBITDA in 2Q13 reached R$1,051 million, increasing 12% from the previous quarter, driven by the higher sales volume, the better operating performance and the recovery in international resins spreads. In U.S. dollar, EBITDA amounted to US$506 million.


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