Braskem SA's net profit and revenues, in Brazilian real terms, jumped year over year in the third quarter while EBITDA in U.S. dollar terms climbed on positive foreign currency effects.
The Brazilian resin producer's net profit attributable to shareholders rose to 1.34 billion reais, or 1.69 reais per share, in the third quarter ended Sept. 30, from 799 million reais, or 1.00 real per share, in the year-ago period.
Third-quarter gross revenues increased to 19.32 billion reais from 14.44 billion reais in the same period last year. Operating profit before financial result climbed to 2.79 billion reais from 1.93 billion reais.
EBITDA, in U.S. dollar terms, rose 5% year over year to $909 million in the third quarter due to the beneficial impact of Brazilian real depreciation of costs and expenses pegged to the currency. EBITDA in U.S. dollars went up by 4% quarter over quarter as Brazilian sales rebounded following the end of the truck drivers' strike and higher sales volume in the U.S. and Mexico.
As of Nov. 12, US$1 was equivalent to 3.76 Brazilian reais.
