Financial Data and Key Metrics Changes - Braskem's recurring EBITDA was $211 million in Q4 2023, totaling $743 million for the year, reflecting a significant decrease compared to 2022 due to lower petrochemical spreads [5][16] - The company recorded a loss of approximately $935 million in 2023, with a recurring cash consumption of $375 million, excluding payments related to Alagoas [6][16] - Braskem ended the year with $3.6 billion in cash, sufficient to cover debt maturities over the next seven years, and maintained a long debt profile with an average maturity of 12 years [6][18] - The company's leverage ratio was 8.12 times, a reduction of approximately 4 times compared to the previous quarter [6][18] Business Line Data and Key Metrics Changes - In Brazil, the utilization rate of petrochemical plants in Q4 was 66%, with a 2 percentage point decrease from the previous quarter, and resin sales volume was 11% lower than the previous quarter [12] - The U.S. and Europe segment had a utilization rate of 82% in Q4, with a 6% decrease in sales volume compared to Q3, but recurring EBITDA increased by 45% to $87 million [14][15] - In Mexico, the utilization rate increased by 18 percentage points to 84% in Q4, with recurring EBITDA reaching $26 million, nearly three times higher than Q3 [15][12] Market Data and Key Metrics Changes - The global accident frequency rate decreased by 2% compared to the previous quarter, ending the year at 1.08 events per million hours worked, below the industry average [8] - The company experienced a significant impact from the imbalance between global supply and demand, leading to historic lows in international spreads throughout the year [5] Company Strategy and Development Direction - Braskem is focusing on balancing capital allocation to advance its growth agenda, with significant investments in industrial decarbonization and technology [9][10] - The company aims to enhance its green ethylene production capacity and has made strides in recycling initiatives, including acquisitions and joint ventures [10][11] - The strategic focus for 2024 includes optimizing the asset portfolio, reducing costs, and increasing productivity while maintaining a commitment to safety [28][31] Management's Comments on Operating Environment and Future Outlook - Management expressed a positive outlook for the Brazilian segment in 2024, anticipating increased utilization rates and sales volumes [25][26] - The company expects a stabilization trend in spreads and improved cash generation, with a focus on higher value-added sales [26][29] - Management emphasized the importance of maintaining liquidity and cost discipline while continuing to implement measures to reduce corporate leverage [18][31] Other Important Information - Braskem's total provisions related to the Alagoas event reached BRL15.5 billion, with BRL9.5 billion already paid [24] - The company has committed to fulfilling its obligations under the agreement signed in Maceio, focusing on social, urban, and environmental actions [25][31] Q&A Session Summary Question: Details on ongoing due diligence processes - Management confirmed that Petrobras's due diligence is nearly complete, with two other players also conducting due diligence, but timing is uncertain [34][36] Question: Update on Alagoas provisions and Senate discussions - An additional provision of BRL1 billion was made, primarily due to operational downtimes and changes in well categories [34][37] Question: Outlook on spreads and recovery - Management indicated that spreads are expected to improve in 2024, transitioning towards normalization by 2025 [35][41] Question: CapEx and portfolio optimization for 2024 - CapEx for 2024 is projected at $400 million, significantly lower than 2023, with no major new projects planned [44][45] Question: Sustainability of PEMEX supply and market share in Brazil - PEMEX has maintained stable ethane production, and Braskem has seen opportunities to regain market share due to logistics disruptions [52][53]

SÃO PAULO, March 19, 2024 /PRNewswire/ -- BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) the largest resin producer in the Americas and the world's leading biopolymers producer, presents its 4Q23 Earnings Release. 4Q23 HIGHLIGHTS  CONSOLIDATED Recurring EBITDA of US$ 211 MM, around R$1,049 million. Higher than 3Q23 (+US$23 million) and 4Q22 (+US$243 million). Cash position of US$ 3.6 billion, ensuring coverage of debt maturities over the next 72 months. Cost reduction: Reduction of ~23 ...

Braskem will utilize bio-attributed and bio-circular propylene feedstocks for the manufacture of bio-attributed and bio-circular polypropylene enabling more sustainable options for growing consumer demand in the packaging, film, automotive, and consumer goods markets. (Photo: Business Wire)Braskem will utilize bio-attributed and bio-circular propylene feedstocks for the manufacture of bio-attributed and bio-circular polypropylene enabling more sustainable options for growing consumer demand in the packaging ...

Core Points - Braskem has donated $10,000 to the Mary M. Campbell Marcus Hook Public Library to support its upgrade efforts [1] - The donation will fund the purchase of a new reception desk, a flat screen monitor, multiple computers, and a computer desk for STEM education [1] - Braskem has been a community partner in Marcus Hook since 2010, operating a polypropylene manufacturing facility that employs over 100 people [2] - The company engages in local STEM education initiatives and sustainability projects, including a community recycling center for approximately 2,400 residents [2] - Braskem's mission emphasizes collaboration with local communities to promote inclusivity and equitable opportunities [2] - The library director expressed gratitude for Braskem's donation, highlighting its role in empowering the community through education [3] - Braskem is committed to sustainability and the Circular Economy, with a workforce of 8,000 dedicated to improving lives through sustainable solutions [4] - The company is a leading producer of polypropylene in the U.S., with multiple production plants and innovation centers [5]

KENOVA, W. Va.--(BUSINESS WIRE)--Braskem (BM&FBOVESPA: BRKM3, BRKM5, and BRKM6; NYSE: BAK; LATIBEX: XBRK), the largest polyolefins producer in the Americas as well as a market leader and pioneer producer of biopolymers on an industrial scale, recently hosted its 25th blood drive on Thursday, February 22nd at its production facility in Neal, West Virginia in partnership with the American Red Cross. This milestone reflects Braskem's commitment to making a positive impact and prioritizing the health and well-b ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key ...

Braskem S.A. (NYSE:BAK) Q3 2023 Earnings Conference Call November 9, 2023 9:00 AM ET Company Participants Rosana Avolio - Director of IR, Strategic Planning and Corporate Market Intelligence Pedro Freitas - CFO Roberto Bischoff - CEO Conference Call Participants Pedro Soares - BTG Pactual Gabriel Barra - Citibank Milene Carvalho - JPMorgan Tasso Vasconcellos - UBS André Vidal - XP Investments Rodrigo Almeida - Santander Operator Good morning, and thank you for waiting. Welcome to Braskem's Third Quarter of ...

EARNINGS CONFERENCE CALL 2Q23 AUGUST 9 , 2 0 2 3 ...

Braskem S.A. (NYSE:BAK) Q2 2023 Earnings Conference Call August 16, 2023 11:00 AM ET Company Participants Rosana Avolio - Investor Relations Pedro Freitas - Chief Financial Officer Roberto Bischoff - Chief Executive Officer Conference Call Participants Gabriel Barra - Citibank Pedro Soares - BTG Pactual Rodrigo Almeida - Santander Luiz Carvalho - UBS Anne Milne - Bank of America Operator Good morning and thank you for waiting. Welcome to this conference call to discuss Braskem’s Second Quarter of 2023 Resul ...

Financial Data and Key Metrics Changes - In Q1 2023, Braskem reported recurring EBITDA of $205 million and net profit of $184 million, with cash consumption of $261 million [4][5] - The company maintained solid credit metrics with a long debt profile and strong liquidity, covering debt maturities for the next six years [4][13] - Corporate leverage was reported at 3.86 times, reflecting lower EBITDA compared to the same quarter of the previous year [13] Business Line Data and Key Metrics Changes - In Brazil, the petrochemical crackers operated at an average utilization rate of 77%, a 5 percentage point increase from the previous quarter, with a 3% increase in domestic sales volume and a 10% increase in exports [7] - The United States and Europe segment had a capacity utilization rate of 81%, a 6 percentage point increase, with a sales volume of 518 tons [10][11] - In Mexico, the utilization rate was 72%, a 3 percentage point increase, with an 11% increase in sales volume [12] Market Data and Key Metrics Changes - The global accident frequency rate decreased by 8% compared to the same period in 2022, indicating improved safety performance [5] - The company experienced better performance in global industrial activity, leading to increased sales volume across all segments [6] Company Strategy and Development Direction - Braskem is focusing on expanding its green ethylene capacity by 30% and has made progress in the construction of an ethane terminal in Mexico [5] - The company is committed to maximizing cash generation and optimizing asset operations while pursuing initiatives related to sustainability and innovation [14][16][21] - The strategic focus includes investments to combat climate change and eliminate plastic waste, alongside enhancing innovation and digital transformation [21] Management's Comments on Operating Environment and Future Outlook - Management noted that the pace of international demand growth is uncertain, but they will continue to seek strategies to maximize synergies across regions [72] - The company expects stable production levels in Brazil and increased sales volume in the U.S. and Mexico for Q2 2023 [20] Other Important Information - Braskem has made significant provisions related to the geological event in Alagoas, totaling BRL 13.2 billion, with BRL 7.5 billion already disbursed [8] - The company has invested in expanding its technology and innovation centers, with a focus on sustainable development [16][17] Q&A Session Summary Question: Potential sale of Braskem and minority shareholder rights - Management confirmed that in the event of a sale, minority shareholders would have tag-along rights for 100% of shares [24][25][28] Question: Working capital dynamics and petrochemical prices - Management indicated that working capital utilization is expected to remain positive, with a focus on monitoring oil prices and product prices [29][30] Question: Conversations with rating agencies - Management emphasized the importance of maintaining close relationships with rating agencies and noted that leverage expectations align with agency requirements [34][35] Question: M&A risks and potential synergies with ADNOC - Management acknowledged potential synergies with ADNOC but emphasized the need for further analysis of any proposed transactions [38][39] Question: Changes in leadership and company strategy - Management reiterated that the company remains committed to its growth strategy, focusing on bio products and circular economy initiatives [44][45] Question: Impact of arbitration and covenant risks - Management stated that the arbitration process is confidential and confirmed that there are no covenants for corporate debts [48][49]