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  • Braskem Records Profit of R$ 1.1 Billion during 2nd Quarter

    DATE: 08/21/2017

    Published by: News

    The Mexico Petrochemical Complex started production in mid-2016 and helped boost the petrochemical company’s performance

    During the month in which it celebrates 15 years, Braskem released its net profit during the second quarter of 2017: R$ 1.142 billion. This represents a significant growth compared to the R$ 275 million profit recorded during the same quarter last year. So far in 2017, Braskem has accumulated a net profit of R$ 3.057 billion.

    Braskem’s solid performance is attributed to the maintenance of healthy margins in the petrochemical sector, the gain in capital with the sale of quantiQ, and the growth in production at the Mexico Petrochemical Complex, which began production during the middle of last year.

    “We continued to implement our strategy of growth as a global company, focused on geographic internationalization and the diversification of raw materials, generating value for all Braskem shareholders,” said Fernando Musa, Business Leader at the petrochemical company.

     

    Created in 2002 with the integration of six assets, the company has consolidated its position in the Brazilian petrochemical sector, taken important steps forward in its internationalization process, and become one of the world’s largest thermoplastic resin producers

     

    During the second quarter of 2017, Braskem presented net revenue of R$ 11.9 billion, representing a 1% growth compared to the same period last year. As a result of its internationalization process, the foreign market also represented the following during the second quarter: 45% of the company’s total net revenue, divided between exports from Brazil (19%); and revenue reported by the international units (26%) in the United States, Europe, and Mexico.

    Investments

    In June, the company approved an investment of up to US$ 675 million to build the sixth polypropylene production unit in the city of La Porte, located in the U.S. state of Texas. The new factory, which will produce 450,000 tons of resins per year, will allow Braskem to maintain its leadership in the polypropylene segment to serve clients in the North American market.

    “The approval of this investment reinforces the shareholders’ continued trust in the growth of our business, our capacity for project development, and the quest for increasingly better results,” said Fernando Musa.

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