Braskem Warns on Going Concern Strain as Losses Widen (1)

Braskem SA reported another lackluster quarter and warned it faces a material uncertainty if its shareholders don’t complete a planned debt transaction.

Recent events “indicate the existence of a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern,” Brazil’s leading petrochemicals company said Friday in a report after releasing fourth-quarter results, mentioning the potential transaction involving a change in its shareholding control.

Quarterly losses almost doubled from a year ago to 10.3 billion reais, primarily due to a tax writedown, Braskem said in its earnings statement. Earnings before interest, taxes, depreciation ...