BRASKEM SA (BAK) Form 6-K — Aug 14, 2026
Braskem reported 2Q26 Recurring EBITDA of US$1,043 million (R$5,253 million), up US$852 million from 1Q26, with net income attributable to shareholders of US$664 million (R$3.3 billion) and operating cash flow of R$1,928 million, driven by sharply higher chemical and petrochemical spreads tied to the Middle East conflict. The quarter's strength is overshadowed by a distressed capital structure: gross debt stands at US$10.3 billion (92% foreign-currency denominated), adjusted net debt rose 3% to US$9.5 billion, leverage hit 6.74x, and the company was in default under certain financial instruments in July 2026, prompting S&P to rate it D and Fitch C.
Key figures
- Net Income
- US$664 million (R$3.3 billion) attributable to shareholders in 2Q26
- Total Debt
- US$10.3 billion gross corporate debt as of June 30, 2026
- Leverage
- 6.74x
- Capex2 Q26
- US$101 million (Braskem ex-Idesa/REIQ); US$5 million (Braskem Idesa)
- Adr Price BAK
- US$2.44
- Capex Plan2026
- US$465 million (Braskem ex-Idesa/REIQ); US$42 million (Idesa)
- Global Ratings
- Fitch C / S&P D (June 26, 2026)
- Adjusted Net Debt
- US$9.5 billion (+3% vs prior quarter)
- Share Price BRKM5
- R$6.36
- Supplier Advances
- R$1,625 million as of June 30, 2026 (2025: R$544 million)
- Operating Cash Flow
- R$1,928 million (~US$385 million)
- Bond Price Braskem28
- 40.76% of par (2Q26)
- Ebitda Change Vs1 Q26
- +US$852 million (R$4,248 million)
- Recurring Ebitda2 Q26
- US$1,043 million (R$5,253 million)
- Segment Ebitda Mexico
- US$57 million (R$289 million)
- Alagoas Provision2 Q26
- US$20 million (R$100 million) additional provision
- Segment Ebitda USEurope
- US$147 million (R$739 million)
- Fx Denominated Debt Share
- 92% of total debt
- Bond Price Braskem Idesa29
- 22.47% of par (2Q26)
- Reiq Raw Materials Credits
- US$115 million (R$578 million) in 2Q26 COGS
- Lc Settlements Reclassified
- R$929 million (US$179 million) in 2Q26 plus R$703 million (US$136 million) in July 2026
- Cash Generation Before Debt Service
- R$807 million
- Segment Ebitda Brazil South America
- US$869 million (R$4.4 billion)
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.