However, compared to the fourth quarter of 2023, the company has managed to cut its losses by 15%.

The Brazilian petrochemical company Braskem has once again recorded losses in the first quarter of the year, recording 'red numbers' of US$ 264 million compared to the attributable net profit of US$ 36 million in the same period of the previous year.

However, compared to the fourth quarter of 2023, the company has managed to cut its losses by 15%, according to the company's results report.

Net sales have fallen 8% year-on-year, to US$3,524 million. For its part, Braskem has managed to reduce costs by 9%, up to US$ 3,286 million.

By markets, Braskem's billing for its business in Brazil and South America as a whole contracted 3% year-on-year, leaving it with a turnover of US$ 505 million.

Meanwhile, Braskem increased its turnover by 10% year-on-year due to its operations in the United States and Europe, and decreased by 2% in Mexico.

For its part, the gross operating result (Ebitda) has been 31% lower than that achieved by the company in the first quarter of 2023, remaining at US$ 233.8 million. The Ebitda margin has increased 1 percentage point, to 6%.