Braskem Posts Q4 Recurring EBITDA Of $211M, Up 13% From QoQ; Cash Position Of $3.6B, Ensuring Coverage Of Debt Maturities Over The Next 72 Months
Benzinga Newsdesk 2 years ago
EarningsNews
BRASKEM S.A. ((B3: BRKM3, BRKM5 and BRKM6, NYSE:BAK, LATIBEX: XBRK)) the largest resin producer in the Americas and the world's leading biopolymers producer, presents its 4Q23 Earnings Release.4Q23
BRASKEM S.A. ((B3: BRKM3, BRKM5 and BRKM6, NYSE:BAK, LATIBEX: XBRK)) the largest resin producer in the Americas and the world's leading biopolymers producer, presents its 4Q23 Earnings Release.
4Q23 HIGHLIGHTS
CONSOLIDATED
- Recurring EBITDA of US$ 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% in general and administrative expenses, compared to 4Q22. Approximately R$186 MM as a result of fixed cost reduction initiatives.
- PE Production – Mexico: Utilization Rate of 84%, +18 p.p. vs. 3Q23 and +15 p.p. vs. 4Q22. Consistent feedstock supply.
The full earnings release is available on the Company's IR website: www.braskem-ri.com.br/en
Braskem will host conference calls to discuss its Results Tuesday, March 19 at 11:00 a.m. US ET.