Braskem recorded recurring Ebitda of R$3.9 billion in the second quarter of 2022, with recurring cash generation of R$2.4 billion, thus keeping corporate leverage at a comfortable level of 1.2x. The Company's cash position was US$ 1.9 billion, which guarantees coverage of debt maturities in the next 66 months, even not considering the international revolving credit facility available in the amount of US$ 1 billion, maturing up to 2026. Net revenue for the quarter was R$25.4 billion.

 

"Despite the volatility of the international scenario, the Company continues to show good results due to the strategy of geographic and raw material diversification that we started in the last ten years", says Roberto Simões, CEO of Braskem.

 

With the impact of the exchange variation on the financial result, given the depreciation of the real against the dollar on net exposure in the amount of US$ 3.6 billion, and with the update of the provision referring to the geological event in Alagoas, Braskem recorded a net loss of R$ 1.4 billion in the quarter. Year-to-date, the Company recorded a net income of R$ 2.5 billion.

 

Additionally, the Company achieved important milestones. In June, Braskem Idesa signed agreements with Advario, a leading global company in the storage sector based in the Netherlands, for the sale of a 50% interest in Terminal Química Puerto México, a subsidiary of Braskem Idesa responsible for the development and operation of the ethane import terminal project in Mexico. TQPM's ethane import terminal will have a capacity of 80,000 barrels of ethane a day, providing conditions for Braskem Idesa to import all its raw material needs.

 

During the quarter, Braskem continued to focus on the development and implementation of the various projects in its main avenues of growth, which are concentrated in the renewables, recycling and existing businesses focused on productivity and competitiveness.

 

The Company has a commitment to reach 1 million tons of biopolymer production capacity by 2030 and, in this context, has been announcing potential strategic and financial partnerships. In addition, the Company continues to implement the project to expand its annual production capacity of green ethylene from 200 thousand tons to 260 thousand tons, with physical progress of this investment of 50%.

 

Regarding our commitment to increase production capacity with recycled content, Braskem remains focused on implementing the project to build the first advanced recycling unit in Brazil, in partnership with Valoren, with the objective of chemically transforming, through pyrolysis process, plastic waste into circular raw material.

 

And, at the beginning of the month, the Company announced that it will hold a 61.1% equity interest in Wise Plásticos, a company in the mechanical recycling sector, and that it will disburse an estimated amount of R$ 121 million, of which a relevant part will contribute to the doubling of the current production capacity to around 50 thousand tons of recycled materials by 2026. Wise is a relevant player in polyolefin recycling for consumer goods companies. Headquartered in the municipality of Itatiba (SP), it has been operating in the sector for over 15 years.

 

Also at the beginning of the month, Braskem inaugurated Cazoolo, Brazil's first circular economy packaging development center. Located in the west of São Paulo, the space, the result of an investment of R$ 20 million, will be a hubinnovation that will promote improvements throughout the packaging journey, from its conception to post-consumption. The 450m² space was planned to stimulate interactivity and creativity with modular rooms, shelves that simulate supermarket gondolas and a mini auditorium for project presentations. Cazoolo has six state-of-the-art 3D printers, in addition to printing, laser cutting, welding and thermoforming equipment for the production of prototypes in a short time, accelerating the development of projects for brands interested in establishing partnerships.

 

Braskem was also listed among the 20 most innovative companies in Brazil in the ranking made by Technology Review, a content platform of the Massachusetts Institute of Technology (MIT, one of the most renowned universities in the world). The list of Innovative Workplaces was the first made with Brazilian companies by MIT.