Braskem SA

BOVESPA:BRKM3

EBITDA jump: Braskem reported consolidated recurring EBITDA of $1.043 billion, with a 24% margin, helped by a sharp improvement in international spreads and a $115 million benefit from PIS/COFINS credits in Brazil.

Quarterly tailwind: Management said the second quarter benefited from the Middle East conflict, which lifted oil and naphtha prices, widened resin and chemical spreads, and improved export economics.

Restructuring focus: The company said financial restructuring is a top priority and that it is in dialogue with major creditor groups to seek a consensual solution to rebalance the capital structure.

CapEx on track: Management said 2026 global asset CapEx, excluding Idesa, is $485 million and that 35% had been spent by the end of the first half, in line with the prior-year pace.

Mixed volumes: Brazil saw weaker resin and chemical sales volumes, Mexico cut utilization to preserve liquidity, while green polyethylene sales rose 49% on stronger Europe demand.

Outlook cautious: Management expects spreads to normalize as trade flows adjust, but said the petrochemical cycle remains structurally challenging because of overcapacity and only moderate demand.