BRKM3 Braskem Sa

SAO PAULO, Nov. 6, 2014 /PRNewswire/ -- BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 3Q14.

HIGHLIGHTS:

• In 3Q14, average cracker utilization rate stood at 90%, increasing 6 p.p. from 2Q14. Resumption of operations at the Triunfo site and the higher capacity utilization rate at the Rio de Janeiro complex offset the scheduled maintenance shutdown at the Sao Paulo cracker.
• BRASKEM's sales followed the resins market trend and reached 939 kton.
• Sales of PP (USA and Europe) totaled 470 kton, 2% lower than in 2Q14. Compared to 3Q13, sales grew 9%, supported by the better economic scenario.
• EBITDA of R$1,502 million, benefitting from higher spreads in international markets and the growth in sales volume. Compared to 3Q13, EBITDA decreased 10%. In dollar, EBITDA was US$660 million.
• BRASKEM's leverage stood at 2.71x. Fitch revised its rating outlook for BRASKEM to "stable," reflecting the reduction in its leverage levels, the continued improvement of its results and progresses in its growth and feedstock diversification project.
• Mexico project's construction reached 82% completion with the beginning of the hiring and training Team Members to run the future industrial operation. Pre-marketing activities advanced, with the number of active clients reaching 276.
• On August 11, the subsidiary BRASKEM-Idesa withdrew the fourth installment of the project finance in the amount of US$383 million.
• Regarding the Ascent project, Ineos, LyondellBasell and Technip were chosen to supply the technologies to be used in the project.
• In a partnership with Think Plastic and Aduaneiras, the "Exporter Qualification Project" was created to increase exports of manufactured goods made from plastic.
• BRASKEM was the winner of the Best Annual Financial Statements 2013 Award in the category of companies with revenue over R$5 billion by Anefac - the National Association of Finance, Administration and Accounting Executives.

The full earnings release is available on the Company's IR website: www.braskem.com.br/ir

BRASKEM will host conference calls to discuss its Results TODAY, November 6, 2014, at 11:30 a.m. ET in English and 10:00 a.m. ET in Portuguese. See connecting details on the Company's IR website.

For further information, contact BRASKEM's Investor Relations Area:
braskem-ri@braskem.com.br, (+55 11) 3576-9531.

SOURCE BRASKEM S.A.