SAO PAULO, March 22 (Reuters) - Brazilian petrochemicals producer Braskem BRKM5.SA posted on Thursday a fourth-quarter net loss of 1.71 billion reais ($326.53 million), compared to 530 million reais the previous year, affected by lower demand and shrinking margins.
The firm said the weak results were attributed mainly to lower petrochemical spreads, which represent the gross profit margin for its products.
Its net revenue came in at 18.99 billion reais, 33% below the same period of 2021.
Several factors contributed to lower demand in the period, Braskem said, including China's "COVID-zero" policy measures and an uncertain outlook in Europe and in the United States.
($1 = 5.2369 reais)
(Reporting by Peter Frontini; Editing by Steven Grattan)
((Peter.Siqueira@thomsonreuters.com; +55 11 56447727;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
