BAK - Braskem posts Recurring EBITDA of US$211 million in the quarter up 13% from 3Q23

PR Newswire

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% 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.

Additional information may be obtained from the Investor Relations Department at +55 11 3576-9531 or braskem-ri@braskem.com.br .

SOURCE Braskem S.A.