SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the month of April 2014

Commission File Number: 001-14862

 

 

BRASKEM S.A.

(Exact Name as Specified in its Charter)

 

 

N/A

(Translation of registrant’s name into English)

Rua Eteno, 1561, Polo Petroquimico de Camacari

Camacari, Bahia – CEP 42810-000 Brazil

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F:  x            Form 40-F:  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)):

Yes:  ¨             No:  x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes:  ¨             No:  x

Indicate by check mark whether the registrant by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes:  ¨             No:  x

This report on Form 6-K is incorporated by reference in the Registration Statement on Form F-3 of Braskem S.A. (No. 333- 92883).

 

 

 

---

Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends of Braskem S.A.

 

		For the Year Ended December 31,
		2013				2012				2011				2010				2009
		(in thousands of reais)
Computation of Earnings:
Pre-tax income from continuing operations before adjustment for income or loss from equity investees		R$	967,171			R$	(1,777,156	)		R$	(874,178	)		R$	1,849,362			R$	1,755,228
Plus fixed charges			1,502,678				1,400,776				1,217,987				963,518				561,443
Plus amortization of capitalized interest			36,459				24,338				21,545				18,203				15,472
Plus distributed income of equity investees			(3,223	)			(25,807	)			(1,043	)			18,215				3,188
Less interest capitalized			(362,528	)			(162,227	)			(101,721	)			(43,491	)			94,461
Less preference security dividend requirements of consolidated subsidiaries(1)			(12,816	)			(260,409	)			(117,670	)			(21,196	)			(7,020	)
Total earnings		R$	2,127,741			R$	(800,485	)		R$	144,920			R$	2,784,611			R$	2,422,772
Computation of fixed charges and preference dividends:
Interest expensed and capitalized		R$	1,484,289			R$	1,135,422			R$	1,091,774			R$	936,322			R$	545,882
Plus estimate of the interest within rental expense			5,574				4,947				8,543				6,000				8,541
Plus preference security dividend requirements of consolidated subsidiaries(1)			12,816				260,409				117,670				21,196				7,020
Total fixed charges and preference dividends		R$	1,502,679			R$	1,400,778			R$	1,217,987			R$	963,518			R$	561,443
Ratio of Earnings to Combined Fixed Charges and Preference Dividends			1.42x				-0.57x				0.12x				2.89x				4.32x

 

(1)	Represents the amount of after-tax earnings that are required to pay the dividends on outstanding preferred securities. The dividend requirement is computed as (a) the amount of the dividend divided by (b) one minus the effective income tax rate applicable to continuing operations.

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: April 16, 2014