The petrochemical company Braskem went from loss to profit in the third quarter, after having sold greater volumes and at higher prices, both in Brazil and abroad.
The company announced on Tuesday (9) that it had net income of BRL 3.54 billion in the third quarter, compared to a loss of 1.41 billion in the same stage of 2020.
Profit was driven by a 77% jump in net revenue year-on-year, to R$28.3 billion, reflecting higher volumes and spreads.
The recurring operating result of R$7.67 billion, up 109% year-on-year, reflected higher spreads for its main chemicals in Brazil, the United States, Europe and Mexico, in addition to higher sales volumes, due to demand recovery after the impact of Covid-19.
In the sequential measurement, however, the operating result had a drop of 18%, in a performance contrary to that of a year before. It was not immediately clear whether the operating performance of the third quarter is comparable with the earnings before taxes, interest, depreciation and amortization (Ebitda) predicted by the average of Refinitiv analysts for the period of R$ 8.32 billion.
Reference: CNN Brasil
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