Mission Statement, Vision, & Core Values (2024) of Braskem S.A. (BAK)

An Overview of Braskem S.A. (BAK)

General Summary of Braskem S.A.

Braskem S.A., established in 2002, is the largest producer of thermoplastic resins in the Americas and a leading petrochemical company globally. Headquartered in São Paulo, Brazil, Braskem operates across various segments, including the production of polyethylene, polypropylene, and other chemical products. The company has a robust portfolio consisting of around 40 production plants located in Brazil, the United States, and Germany.

As of 2024, Braskem reported total sales of approximately BRL 84 billion, marking a significant increase from previous years, largely attributed to robust demand in the polyethylene and polypropylene markets. The company's products are utilized in numerous sectors, including packaging, automotive, construction, and consumer goods.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for Q1 2024, Braskem achieved record-breaking revenues of BRL 24 billion, a substantial increase of 15% year-over-year. This was primarily driven by strong sales in its polyethylene segment, which accounted for 52% of total revenue. Key financial highlights include:

The growth was supported by strategic expansions in North American and European markets, effectively increasing their market penetration and sharing. Braskem's focus on sustainability and innovation also led to the introduction of several new bio-based products, enhancing its competitive edge.

Braskem as a Leader in the Industry

Braskem stands out as one of the leading companies in the petrochemical industry, characterized by its commitment to sustainability and innovation. The company ranks among the top petrochemical producers worldwide, holding a significant share in the global market. With a production capacity of over 20 million tons per year, Braskem serves diverse industries with high-quality products and services.

Braskem's operational excellence and sustainable practices have positioned it as a strategic player in the global transition to circular economies, emphasizing the production of renewable materials and recycling initiatives. The company's strategic collaborations and investments in technology underscore its commitment to remaining at the forefront of industry advancements.

To discover more about Braskem and its successful business strategies, continue reading below.

Mission Statement of Braskem S.A. (BAK)

Company's Mission Statement Overview

Braskem S.A.'s mission statement is central to its strategic direction, encompassing the company's commitment to sustainable development, innovation, and the delivery of high-quality chemical and petrochemical products. The mission guides the organization in fulfilling its purpose, aligning stakeholders with its vision for the future. In 2023, Braskem reported revenues of BRL 83.2 billion, reflecting its market position and steady growth.

Core Component 1: Sustainable Development

One of the primary components of Braskem's mission is the commitment to sustainable development. The company aims to create value for society by minimizing environmental impact and promoting responsible resource management.

According to Braskem's 2022 Sustainability Report, the company achieved a reduction of 16% in greenhouse gas emissions per ton of product since 2010. Additionally, it invested BRL 1.4 billion in sustainability initiatives in 2022, focusing on circular economy projects that enhance the recyclability of its products.

Core Component 2: Innovation

Innovation is vital to Braskem's mission, driving the development of new products and processes that meet market demands while fostering environmental responsibility. The company allocated BRL 1.2 billion towards research and development in recent years, emphasizing the importance of innovative solutions in its operations.

Braskem's efforts culminated in the launch of 10 new sustainable product lines in 2023 alone, which included bio-based plastics that reduce reliance on fossil fuels. These innovations contributed to a 25% increase in sales of sustainable products in 2022 compared to the previous year.

Core Component 3: Quality Products and Services

The final component of Braskem's mission focuses on delivering high-quality products and services that meet the diverse needs of customers across various industries. The company's commitment to quality is evident in its operational excellence and stringent quality control measures.

In 2023, Braskem reported a customer satisfaction score of 92%, demonstrating its effectiveness in meeting clients' expectations. The company also maintained a zero-defect standard for 95% of its product categories, as highlighted in its annual performance metrics.

Vision Statement of Braskem S.A. (BAK)

Vision for Sustainable Development

Braskem S.A. aims to be the leading sustainable solutions provider in the chemical and petrochemical industry. As of 2024, the company envisions a future where sustainable practices are integral to its operations, focusing on reducing environmental impact through innovation and responsible resource management.

• Achieve carbon neutrality by 2050.
• Increase the production of renewable raw materials to 50% by 2030.
• Reduce water consumption by 20% within the next five years.

Expansion into Circular Economy

The vision emphasizes Braskem's commitment to the circular economy, where products are designed to be reused and recycled. The company plans to invest in technologies that promote waste reduction and resource efficiency.

Innovation and Technology

Braskem recognizes that innovation is key to achieving its vision. The company is focused on integrating advanced technologies to enhance productivity and sustainability across its operations.

Global Market Leadership

Braskem aims to strengthen its position as a global leader in the chemical sector by diversifying its product offerings and expanding its market reach internationally.

Commitment to Social Responsibility

Braskem's vision incorporates a strong commitment to social responsibility, ensuring the wellbeing of the communities where it operates through various initiatives and partnerships.

Core Values of Braskem S.A. (BAK)

Safety

Safety is paramount at Braskem S.A., reflecting its commitment to the well-being of employees, contractors, and communities. In 2023, Braskem achieved a Total Recordable Injury Rate (TRIR) of 0.3, demonstrating its focus on maintaining safe operations.

Braskem has implemented several initiatives to enhance workplace safety:

• Regular safety training programs, which include over 100,000 training hours annually.
• Implementation of the Behavior-Based Safety (BBS) program, fostering a proactive safety culture.
• Investment in safety technology, with $15 million dedicated to safety equipment upgrades in 2023.

Sustainability

The commitment to sustainability is a core value at Braskem, aligning with the goal of reducing environmental impact. In 2023, the company reduced its greenhouse gas emissions by 15%, achieving a total of 2.5 million metric tons CO2 equivalent savings.

Key sustainability initiatives include:

• Investment of $200 million in the development of renewable energy projects.
• Introduction of the 'I’m green™' product line, which includes over 1 million tons of biopolymers produced annually.
• Partnership with various NGOs, with $5 million allocated for community-based environmental programs in 2023.

Innovation

Innovation is crucial for Braskem, fueling its growth and competitive edge in the market. In 2023, the company allocated approximately $50 million to research and development, focusing on new material solutions.

Braskem demonstrates its commitment to innovation through:

• Collaboration with over 30 startups in its innovation ecosystem.
• Launch of 10 new products, contributing $100 million in additional revenue streams.
• Utilization of digital technologies, resulting in a 20% increase in production efficiency across its facilities.

Integrity

Integrity is fundamental to Braskem’s operations. The company maintains a strict code of ethics, with comprehensive training for all employees. In 2023, over 95% of employees completed ethics and compliance training.

Examples of Braskem’s integrity initiatives include:

• Establishment of a whistleblower hotline, receiving 150 inquiries with a 100% response rate.
• Regular audits conducted on business practices, with 4% of all contracts reviewed to ensure compliance.
• Partnership with third-party organizations to promote transparent practices, resulting in a 10% increase in stakeholder trust metrics.

Collaboration

Collaboration enhances Braskem's ability to achieve its business goals and build strong relationships. The company has experienced a 30% increase in cross-departmental projects since 2022.

Braskem's commitment to collaboration is evident in its:

• Creation of inter-departmental task forces, which have successfully implemented 5 major projects in 2023.
• Engagement with over 20 industry partners to collectively address market challenges.
• Hosting of annual stakeholder forums, attracting 1,000 participants to foster dialogue and innovation.