Braskem: From Survival To A Turnaround Story

Braskem (BAK) transitions from crisis to cyclical recovery as global feedstock shortages drive petrochemical prices and spreads sharply higher. Ownership shift to creditor banks and Petrobras aligns incentives for operational turnaround and value creation, with new management at the helm. EBITDA could reach $2bn, enabling BAK to cover interest, fund operations, and avoid forced debt restructuring despite $10bn in debt.