Braskem S.A. American Depositary Shares (Each representing Two - BAK STOCK NEWS

Braskem S.A. (NYSE: BAK) reported its 4Q22 earnings, highlighting a significant decline in financial performance. The company recorded a negative Recurring EBITDA of US$32 million, with a full-year EBITDA of US$2.1 billion, down 64% from 2021. Lower demand for petrochemical products, influenced by global market conditions and increased supply, contributed to the downturn. In 2022, Braskem faced a net loss of R$336 million. Despite this, the company maintained a cash position of US$2.4 billion, ensuring financial stability for the next five years. The earnings call is scheduled for March 23, 2023, at 10:00 a.m. ET.

Braskem S.A. has entered into a 10-year commercial agreement with Nexus Circular to supply certified circular polypropylene (PP) using advanced recycling technology. This partnership aims to divert plastics from landfills and produce sustainable virgin-quality plastics. Braskem targets selling 300,000 metric tons of recycled-content products by 2025 and 1 million metric tons by 2030. The collaboration will complement Braskem America’s existing portfolio of sustainable PP and PE products. Nexus Circular has diverted over 8 million pounds of plastics from landfills since 2018, underlining the project's potential environmental impact.

Braskem (NYSE: BAK) has announced plans to invest in producing carbon negative bio-based polypropylene (PP) in the U.S., marking a significant step in sustainability. This bio-based PP will utilize Braskem's proprietary technology to convert bioethanol into PP, maintaining the same technical properties and recyclability as traditional PP. The company aims for a biopolymer capacity of 1 million tons by 2030 and to achieve carbon neutrality by 2050. With the U.S. being a major ethanol producer, Braskem is exploring partnerships to support this project, which aims to reduce reliance on fossil feedstock and support the growing market for sustainable solutions.

Braskem (NYSE: BAK) has acquired taulman3D, a leading supplier of 3D filaments, enhancing its position in the additive manufacturing market. This acquisition bolsters Braskem's portfolio, adding nylon, recycled PETG, and PET filaments, and is expected to double its market share in this growing industry. The 3D printing market is projected to surge from $15 billion today to $78 billion by 2030, representing a 20% CAGR. taulman3D, established in 2012, operates globally through various distributors, emphasizing sustainability with its 100% recycled filament solutions.

Braskem is accelerating its digital transformation, generating estimated annual recurring gains of US$90 million through its Transform for Value program. The company has invested US$7 million this year in digital initiatives and plans to increase this expenditure. Additionally, Braskem is launching a startup hub, Oxygea, with an investment of US$150 million aimed at fostering innovation in sustainable technologies. The company has developed over 100 machine learning models and is committed to enhancing operational and customer experience through digital tools.

Braskem (BAK) has partnered with Greentown Labs, North America's largest climatetech startup incubator, as a Gigawatt Partner. This collaboration aims to foster innovation in sustainable materials, chemicals, and recycling, reinforcing Braskem's commitment to a low-carbon circular economy. Braskem targets to enhance its recycled content portfolio, aiming for 300,000 tons in sales by 2025 and 1 million tons by 2030. The partnership will grant Braskem access to over 200 startups, facilitating the development of climate solutions and advancing its sustainability goals.

Braskem (NYSE: BAK), the largest polyolefins producer in the Americas, has joined the MIT Energy Initiative (MITEI) to support research for advancing energy transition. This three-year membership enables Braskem to collaborate with leading industrial firms to tackle climate challenges. The Future Energy Systems Center will focus on innovative, decarbonization-related research, involving guidance from MIT professors. Braskem aims to enhance its sustainability efforts, targeting sales of 300,000 tons of recycled materials by 2025 and 1 million tons by 2030, as part of its circular economy initiative.

Braskem S.A. (NYSE: BAK) reported its 3Q22 earnings, revealing a Recurring EBITDA of US$371 million, a 54% decline from 2Q22, primarily due to decreased resin export volumes in Brazil and lower prices across key product lines. Year-over-year, EBITDA fell 75%. The company also faced a net loss of R$1.1 billion for the quarter, although net income for the year stands at R$1.4 billion. Despite challenges, Braskem maintained a robust cash position of US$2.2 billion, ensuring coverage for debt maturities for the next five years.