Braskem S.A. (NYSE:BAK) Q2 2023 Earnings Conference Call August 16, 2023 11:00 AM ET

Company Participants

Rosana Avolio - Investor Relations

Pedro Freitas - Chief Financial Officer

Roberto Bischoff - Chief Executive Officer

Conference Call Participants

Gabriel Barra - Citibank

Pedro Soares - BTG Pactual

Rodrigo Almeida - Santander

Luiz Carvalho - UBS

Anne Milne - Bank of America

Operator

Good morning and thank you for waiting. Welcome to this conference call to discuss Braskem’s Second Quarter of 2023 Results. We have with us today Mr. Roberto Bischoff, CEO of Braskem; Pedro Freitas, CFO of Braskem; and Rosana Avolio, Investor Relations, Strategic Planning and Corporate Market Intelligence Director.

This event is being recorded and all participants will be in a listen-only mode during the Company’s presentation. After Braskem remarks, there will be a question-and-answer session. At that time further instructions will be given. [Operator Instructions] This event is also being broadcast live via webcast and may be accessed through Braskem’s website at www.braskem-ri.com.br, where the presentation will be also available.

The selection of slides will be controlled by yourself. The audio will be available shortly after the event is concluded. Those following the presentation via the webcast may post their questions to Braskem via website. They will be answered by the IR team after the conference is finished.

Before proceeding, let me mention that forward-statements are based on the beliefs and assumptions of Braskem management and on information currently available to the company. They involve risks and uncertainties because they relate to future events and therefore depend on circumstances that may or may not occur. Investors and analysts should understand that macroeconomic conditions, industry conditions and other factors could also cause results to differ materially from those expressed in such forward-looking statements.

Now, I’ll turn the conference over to Mrs. Rosana Avolio,– Investor Relations, Strategic Planning and Corporate Market Intelligence Director. Mrs. Avolio, please go ahead and begin your presentation.

Rosana Avolio

Good morning, ladies and gentlemen, and thank you for participating in Braskem’s earnings conference call for the second quarter of 2023. Let’s start the presentation on slide 3, with the highlights of the period.

Braskem delivered recurring EBITDA of US$140 million in the second quarter of 2023, a non-cash loss of US$156 million and cash consumption of US$ 5 million. Considering the payments regarding the geological event in Alagoas, the cash consumption accounts for US$132 million. I would like to point out Braskem maintained a robust liquidity position that is sufficient to cover all of its liabilities coming due over the next six years, as well as a very long debt maturity profile, with an average term of 13 years.