Braskem Sa (BAK) has released an update.
Braskem S.A. reported a significant drop in recurring EBITDA for 2023, down 64% from the previous year, due to lower international spreads and sales volumes in their Brazil/South America segment and globally. The Brazilian petrochemical giant also faced a challenging year with record-high chemical imports and increased industry idle capacity. Despite these challenges, the company implemented strategic initiatives to optimize operations, manage costs, and maintain financial health, which partially offset the downturn’s effects.
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