Braskem swung to profit in the fourth quarter of 2015, with net earnings of 158 million Brazilian reais ($39.1 million) from a R$24-million loss one year earlier. The results were supported by an improved operational performance and hedge accounting, which better translates the effects from exchange variation on dollar-denominated liabilities to the company's results, Braskem says. Ebitda during the period amounts to R$2.23 billion, down 27% year-on-year (YOY) on lower sales volumes; lower resin and basic petrochemical price spreads in the international market, which were partially offset by the depreciation of the real; and lower exports due to a previously reported production incident at the company's Capuava, Brazil, steam cracker. The average capacity utilization at Braskem's plants during the quarter was 83%, also reflecting the unplanned stoppage at Capuava.
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