Braskem SA (NYSE:BAK) Q2 2022 Earnings Conference Call August 11, 2022 1:30 PM ET

Company Participants

Rosana Avolio - IR Manager

Pedro Freitas - CFO

Danilo Garcez - Mexico CFO

Conference Call Participants

Guilherme Levy - Morgan Stanley

Luiz Carvalho - UBS

Leonardo Marcondes - Bank of America Merrill Lynch

Barbara Halberstadt - JPMorgan Chase & Co.

Gabriel Barra - Citigroup

Operator

Good afternoon, and thank you for standing by. Welcome to conference call for Braskem's Third Quarter Earnings Results Call for 2022.

Here with us today, we have Mr. Pedro Freitas, Braskem's CFO; and Rosana Avolio, IRO and also Strategic Planning and Market Intelligence Director. We like to inform that this event is being recorded and that all participants are connected in listen-only mode during the company's remarks. After that, we'll have a Q&A session when further instructions will be provided. [Operator Instructions]. This event is also being simultaneously streamlined over the Internet and can be followed at www.braskem.com/ir, where the respective slide deck can be also downloaded. You are free to select the slides you wish to view. An audio facility for this event will be made available right after its closing.

[Operator Instructions]. Before moving on, we'd like to state that forward-looking statements made during this call about the company's business outlook, financial and operating targets are based on beliefs and assumptions on the part of the company's management and also on information currently available.

Forward-looking statements are no guarantee of performance as they involve risks, uncertainties and assumptions as they refer to future events and therefore, depend on circumstances that may or may not materialize. Investors and analysts should have in mind that general economic conditions, industry conditions and other operating factors might affect future results of Braskem and does lead to results that will differ considerably from those expressed in these forward-looking statements.

I'd like now to turn the floor over to Ms. Rosana Avolio, IRO and also Director of Strategic Planning and Corporate Market Intelligence. She will lead the presentation. Please, Ms. Avolio, you may carry on.

Rosana Avolio

Good afternoon, ladies and gentlemen, and thank you for joining us for Braskem's earnings conference call. Today, we'll be sharing the results of the second quarter of 2022. Let's get started on Slide #3, where I will start my presentation, commenting on the company's main highlights in the quarter.

Braskem continue to deliver solid results in the second quarter of 2022. Starting with the financial highlights. The company reported recurring EBITDA of USD 802 million. Additionally, cash generation was BRL2.4 billion, representing a conversion of EBITDA into cash of around 60%. With regards to return to shareholders, the cash flow stood at 31%.