Braskem reverses losses and has net income of R$7.4 billion in the second quarter

Sao Paulo – Braskem (BRKM5) Net income was R$7.424 billion in the second quarter of 2021, reflecting a loss of R$2.5 billion shown in the previous year. Compared to the first quarter, the profit was three times higher.

The earnings development reflects a combination of better prices for its chemical products and the effect of the riyal’s appreciation against the dollar.

Braskem justified the finding by citing better international spreads for thermoplastic resins in Brazil, the United States, Europe and Mexico, as well as higher sales volumes, as global economic activity gradually recovers from the economic crisis caused by the Covid-19 pandemic.

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