Braskem (BRKM5) reverses profit and has a net loss of R$ 1.39 billion in the 1st quarter

Braskem (BRKM5) reported a net loss of R$1.39 billion in the first quarter of 2024, higher compared to losses of R$242 million in the same period of 2023. The result was better compared to the three immediately previous months, when had recorded a loss of R$1.751 billion, according to the quarterly balance sheet released by the company.

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If the net loss attributable to the company’s shareholders is considered, the result for the period is R$1.345 billion, reversing the profit of R$184 million in the period from January to March 2023. The loss for the beginning of 2024, however, is 15% lower than the losses of R$1.575 billion recorded in the fourth quarter of last year.

Recurring Ebitda (earnings before interest, taxes, depreciation and amortization) reached R$1.140 billion in the period, an increase of 7% compared to a year ago. In the quarterly interval, in turn, an increase of 9% was recorded.

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Braskem points out that the sequential increase in Ebitda was caused by the increase in spreads (margins) for polyethylene (PE), polypropylene (PP) and main chemicals in the international market.

Net revenue, in turn, totaled R$17.920 billion, a drop of 8% compared to a year and an increase of 7% compared to the three immediately previous months. Broa