Brazilian petrochemical giant Braskem reported a consolidated recurring EBITDA of $150 million in Q3 2025. This represents a 104% increase compared to Q2, which was $74 million, though it remains 65% lower than in the same period last year, when it reached $432 million.

The company significantly narrowed its net loss to $1 million, showing a recovery from a $45 million loss in Q2 2025 and a $106 million loss in Q3 2024.

Net revenue reached $3,175 million, remaining largely flat (+1%) quarter-on-quarter but declining by 17% year-on-year. The net financial result was negative at $164 million, compared to negative $2 million in the previous quarter and negative $420 million a year ago.

In the home market, resin sales fell to 787,000 t, down 5% quarter-on-quarter and 9% year-on-year. The company attributed this to higher imports entering Brazil in July and August, alongside weaker PP demand. Export sales of resins remained stable at 229,000 t (+1% quarter-on-quarter) and showed growth of 9% year-on-year.

The average utilisation rate of petrochemical crackers dropped to 65%, down 9 percentage points from Q2 and 8 p.p. lower than in Q3 2024. This was primarily due to a scheduled 33-day maintenance shutdown at the Rio de Janeiro complex and a strategy to optimise production at naphtha-based plants. However, Braskem noted that positive effects from PE anti-dumping measures helped offset pressure on spreads.

The utilisation rate in the USA and Europe rose to 79%, up 5 p.p. quarter-on-quarter and 3 p.p. year-on-year, driven by the normalisation of operations and inventory replenishment in the USA. However, PP sales volumes dipped slightly to 495,000 t (-2% quarter-on-quarter, -1% year-on-year). While the US market recovered, sales in Europe were impacted by lower industrial activity due to seasonal factors.

Regarding the Mexican market, Braskem Idesa completed a major general maintenance shutdown at its petrochemical complex on 31 July. Consequently, PE sales volumes decreased to 146,000 t, down 6% quarter-on-quarter and significantly lower (-30%) compared to the same period last year due to reduced product availability.

The utilisation rate recovered slightly to 47% (+3 p.p. quarter-on-quarter) but remained 27 p.p. lower than in Q3 2024. A key development in the quarter was the start of ethane supplies from the new Puerto Quimica Mexico Terminal, which is expected to reduce the company's reliance on the Fast Track solution.