Braskem reported growth in its resin sales volume in both the domestic and export markets, with EBITDA growth of 2% on the prior quarter . Recurring EBITDA in the quarter was R$1.55 billion, or US$389 million, in line with 2Q19, while sales revenue was  $13.3 billion, also in line with the prior quarter.

As a result of the slowdown in the global economy, Braskem has been facing a downcycle in the global petrochemical industry. "We are concentrated on doing our part to weather this moment of the cycle. In the quarter, we captured efficiency gains in our inventory management efficiency, reduced our accident frequency rate, which is 63% below the industry average, and filed our 20-F Forms for fiscal years 2017 and 2018 at the U.S. securities exchange," said Braskem CEO Fernando Musa. 

Free cash generation in 3Q19 was R$401 million, down 82% from 2Q19, explained by the effects from the lower feedstock consumption on working capital, which was offset by inventory management efficiency gains. In 9M19, Braskem generated free cash flow of R$2.8 billion.

The negative effect from the depreciation in the Brazilian real against the U.S. dollar on the company's net exposure not designated for hedge accounting led Braskem to report a net loss of R$888 million in the quarter. Financial leverage measured by the ratio of net debt to EBITDA in U.S. dollar ended the quarter at 2.78x.

In October, Braskem placed US$2.25 billion in bonds in the international market, with US$1.5 billion due in ten years and US$750 million in 30 years, making it the company's largest bond issue ever. In November, Braskem issued R$550 million in promissory notes due in up to five years, whose proceeds are being used primarily to repay other shorter-term, higher-cost liabilities. 

In the same month, Braskem filed 20-F Forms for fiscal years 2017 and 2018 with the U.S. Securities and Exchange Commission (SEC), leading trading in its American Depositary Shares (ADSs) to be resumed on the New York Stock Exchange (NYSE).

Braskem presented to the National Mining Agency (ANM) measures to definitively shut down its salt mining operations and close its wells in Maceió . The actions include creating a buffer area around certain wells, which will involve relocating people and vacating properties. Braskem will contribute the resources required for these actions, which will be planned and executed jointly with the Civil Defense and other authorities.

Safety, communication and sustainability
The recordable and lost-time injury frequency rate (CAF + SAF), considering both Team Members and Partners per million hours worked, stood at 1.17 in 3Q19, 34% lower than 2Q19 and 63% below the industry average.

To increase the transparency of its capital management and value creation strategy for all stakeholders and to enable investors to allocate capital more efficiently and productively, Braskem, in yet another step to improve its communication with the market, is publishing today its first report prepared based on the International Integrated Report Framework developed by the International Integrated Reporting Council (IIRC) .

In the area of sustainability, Braskem, for the ninth straight year, received a Gold category classification from the Brazil GHG Protocol Program for having conducted its greenhouse gas emissions inventory for 2018 for all categories of Scopes 1, 2 and 3 and with independent external verification. 

Braskem also reinforced its commitment to sustainable development by joining the CEO Water Mandate , a special initiative of the United Nations and the UN Global Compact to promote the sustainable use of water in the world.

Reinforcing also its commitment to the circular economy , Braskem joined forces with Tramontina , one of Brazil's largest makers of household utensils and equipment, to launch in September a line of chairs made from post-consumer resin (PCR), which is now part of the I'm greenT portfolio, a brand that identifies Braskem's resins that generate a more positive impact.

Braskem also announced a partnership with the U.S. brand GreenGear Supply Company for the use of Green Plastic to make lightweight, durable and reusable rain ponchos from its EcoRain line, used mainly by sports fans.