February 7, 2013 / 11:56 AM / 5 years ago

Braskem swings to profit, lays out 2013 investment

SAO PAULO, Feb 7 (Reuters) - Brazil’s Braskem SA, Latin America’s largest petrochemical company, said on Thursday it swung to a fourth-quarter profit of 275 million reais ($138 million) from a loss of 172 million reais a year earlier.

Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, nearly doubled from a year earlier to 1.399 billion reais, according to a securities filing.

Braskem said it plans to invest 2.2 billion reais in 2013, 70 percent of which will go to maintenance and improvements to productivity.

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