Braskem records EBITDA of R$703 million in the second quarter in a scenario of lower growth in global demand

Braskem's results in the second quarter continued to reflect the impacts of the scenario of lower global demand growth, impacting demand for chemical and petrochemical products and spreads. As a result, the Company recorded Recurrent EBITDA of R$703 million in the quarter and a net loss attributable to shareholders of R$771 million. In relation to its financial health, the Company maintained a strong cash position of R$14 billion, which guarantees coverage of debt maturities over the next 74 months, and an extended debt profile.

“In light of the international scenario, we are maintaining our focus on the Company’s competitiveness, financial health and responsible capital allocation,” said Roberto Bischoff, CEO of Braskem.

In Brazil, the operating rate was lower than in the first quarter due to the current lower competitiveness of petrochemical plants that use naphtha as raw material, in addition to the lower demand for chemical products. In this scenario, the sales volume of resins and chemicals in the quarter was 13% lower when compared to the previous quarter. In the United States and Europe, the average utilization rate remained in line with the first quarter and sales volume increased 3%, influenced by greater demand in the American market in the period, following the chain's destocking process during the first quarter of the year. year. In Mexico, Braskem showed an increase in the utilization rate of 14 percentage points, driven by the greater supply of national and imported raw materials. As a result, sales of polyethylene (PE) in Mexico increased by 8% in the second quarter, when compared to the first.

In relation to its strategy, Braskem continued to advance in projects linked to its growth avenues, both in the traditional business, with physical progress in the quarter of around 40% in the construction of the ethane import terminal in Mexico, and in the raw materials from renewable sources and recycling.

In the renewable growth avenue, there was the completion and start of operations of the project to expand 30% of the current green ethylene production capacity in Rio Grande do Sul. Finally, in the recycling growth avenue, there was an increase in the portfolio of products and segments: in the second quarter, the Company recorded an increase of 22% in sales of resins with recycled content compared to the first quarter and 83% when compared to the same period of the previous year, which includes the acquisition of Wise, completed in the first quarter of the year.