Braskem SA (NYSE:BAK) Q1 2022 Earnings Conference Call May 12, 2022 10:00 AM ET

Company Participants

Rosana Avolio - IR Manager

Pedro Freitas - CFO

Roberto Simoes - CEO & Director

Conference Call Participants

Guilherme Levy - Morgan Stanley

Pedro Soares - BTG Pactual

Vicente Falanga - Bradesco BBI

Luiz Carvalho - UBS

Gabriel Barra - Citigroup

Operator

Good morning, and thank you for waiting. Welcome to Braskem's Q1 2022 Earnings Conference. With us today, we have Mr. Roberto Simoes, CEO; Pedro Freitas, CFO; and Rosana Avolio, IRO of Braskem. We'd like to inform you that this event is being recorded. [Operator Instructions]. This event is also being streamed online via webcast and will be available at www.braskem.com/i, where the respective presentation can also be downloaded.

The slide deck will be controlled by you. The audio of this event will be available right after its conclusion. Remember that webcast participants will be able to send its questions to Braskem via the website, and those will be answered after the conclusion of this conference by the IR department.

Before we proceed, we'd like to clarify that any statement made during this conference about Braskem's business prospects, projections, operating and financial targets are based on beliefs and assumptions of the company's management as well as information currently available to the company.

Forward-looking statements are no guarantee of performance, and they involve risks, uncertainties and premises seeing as they refer to future events and, therefore, rely on circumstances that may or may not materialize. Investors and analysts must understand that general economic conditions, the state of the industry and other operating factors may affect Braskem's future earnings and lead to results which are materially different than those expressed in said forward-looking statements.

Now I'd like to turn the conference over to Mr. Rosana Avolio, Investor Relations Director, who will begin the presentation. Please, Ms. Avolio, you may proceed.

Rosana Avolio

Good afternoon, ladies and gentlemen, and thank you for participating in Braskem's conference call to present our results for the first quarter of 2022.

Let's start the presentation on Slide 3 with the distribution of dividends. On the slide, you can see that Braskem remains committed to returning value to shareholders through the distribution of dividends, with a payment in May of BRL 1.35 billion in dividends based on net income for 2021. Therefore, combined with BRL 6 billion anticipated in December 2021, the total dividend distribution was BRL 7.35 billion, representing 77.5% of adjusted net income for 2021. Remember that Braskem has a transparent dividend policy with guidelines for determining the distribution of dividends in compliance with or exceeding the applicable laws or regulations.