Braskem, a global petrochemical company that develops sustainable chemical and plastic solutions to improve people's lives, reported recurring EBITDA of USD 109 million (BRL 589 million) in the fourth quarter of 2025. The result was lower than in 3Q25, mainly due to the continued prolonged downturn in the global industry cycle.

"The petrochemical industry dynamics remained impacted by external uncertainties, including geopolitical conflicts and tariff tensions, which further pressured chemical and petrochemical spreads in the international market. Braskem continues to implement strategic measures aimed at sustainable value creation, with a focus on maximizing EBITDA and improving cash efficiency," said Roberto Ramos, CEO of the company.

At the end of the quarter, total corporate gross debt stood at USD 9.4 billion, with a cash position of USD 2.1 billion, including a USD 1 billion standby credit line maturing in December 2026. Corporate leverage reached 14.74x, impacted by the lower EBITDA recorded during the year.

Petrochemical plant utilization

In 4Q25, the Brazil and South America segment recorded an average utilization rate of 59% at its petrochemical plants, down 6 percentage points compared to the previous quarter, mainly due to a scheduled shutdown at the Bahia plant and production adjustments in line with seasonal trends. Resin sales in the Brazilian market declined by 6%, primarily driven by lower demand during the period due to seasonality.

In the United States and Europe, utilization rates fell by 8 percentage points due to scheduled maintenance shutdowns at European facilities and inventory optimization across both regions. In Mexico, utilization reached 85% in 4Q25, up 38 percentage points compared to 3Q25, reflecting operational normalization following the completion of a general maintenance shutdown in July 2025 and supported by increased availability of imported ethane.

Segment performance

In Brazil and South America overall, average international spreads for resins and key chemicals declined in 4Q25, falling by 13% and 9%, respectively, compared to the previous quarter, reflecting the continuation of the prolonged downturn in the petrochemical industry. In this context, total sales volumes were also lower, in line with spread dynamics. Recurring EBITDA for the segment reached USD 143 million.

In the United States and Europe segment, the average polypropylene (PP) spread declined by 4% compared to 3Q25. PP sales volumes decreased by 3% versus the previous quarter, primarily due to seasonal factors. The segment reported negative recurring EBITDA of USD 32 million.

In Mexico, ethane-based polyethylene (PE) spreads declined by 14% compared to 3Q25. However, sales volumes increased by 52%, driven by higher operating rates and improved product availability following the restart of production after a scheduled shutdown of the petrochemical complex. The segment posted recurring EBITDA of USD 11 million.

REIQ developments

In January 2025, REIQ Investimentos was announced, establishing a presumed tax credit of 1.5% of PIS/COFINS linked to investments in Brazil's chemical industry. The company continues to advance its capacity expansion projects using REIQ Investimentos resources, while also focusing on technology to improve efficiency across the resin value chain and adapting processes for the industrial production of new copolymer grades.

"Braskem remains focused on implementing the initiatives outlined in its Global Resilience and Transformation Program, taking into account the significant impacts of the prolonged downturn affecting both the global industry and the Brazilian chemical sector," Ramos added.

Alagoas updates

In November 2025, Braskem signed an agreement with the state of Alagoas to provide full compensation for damages related to the geological event in the region, establishing payments totaling BRL 1.2 billion, part of which has already been disbursed, with the remainder scheduled in future installments.

Throughout the year, the company made significant progress in its initiatives in Maceió, with 99.9% of proposals submitted under the Financial Compensation Program, approximately 99.6% accepted and 99.5% paid. Advances were also made in the closure and monitoring of geological cavities-six of which have already been fully filled, with others in progress-as well as in socio-urban initiatives, with six of eleven projects completed and the remainder under execution or planning, reflecting consistent compliance with commitments and improvements to the local environment.