Braskem records 33% growth in H1-07

10-Aug-07

Braskem's net income reached 9.4 bln reais (US$ 4.9 bln) in H1-07, a 17% increase over the same months of 2006. The company has earned US$1.2 bln from exports in H1-07, a 33% growth as compared to the same period last year. Foreign sales by the Brazilian petrochemical company resulted in US$ 1.2 billion in the first half of the year. This spectacular performance is a result of investments made by Braskem to strengthen its presence in the international market, and also of a better price paid for thermoplastic resins, especially polyethylene and polypropylene. Braskem is one of the three largest private capital companies in Brazil, and owns 18 industrial plants across the country. The company produces 10 mln tpa of thermoplastic resins and other petrochemical products. The net income of Braskem stood at 408 million reais (US$ 216.2 million) in the first half of the year, a result 344% higher than recorded in the same period of last year. The Ebitda also increased by 37% during the period, to reach 1.8 billion reais (US$ 954 million). In the last twelve months, gross revenues stood at 23 billion reais, which equals US$ 11 billion, the net income stood at 18 billion or US$ 8.7 billion, and the Ebitda at 3.5 billion reais, the equivalent of US$ 1.7 billion, according to the company. The results already reflect, according to the company, the acquisition of assets from three other companies in the sector: Ipiranga Petroquímica, Ipiranga Química, and Copesul.