Brazil's Vale Posts 1Q Net Loss of $3.1 Billion
April 30 2015 - 06:15AM
Dow Jones News
By Rogerio Jelmayer
SAO PAULO--Brazilian mining giant Vale SA posted a net loss in
the first quarter, as low global demand reduced iron-ore prices in
the period.
Vale, which is the world's largest iron-ore producer, reported a
first-quarter net loss of $3.1 billion, reversing a net profit of
$2.5 billion in the first quarter of 2014.
The company's net revenue dropped 34% to $6.24 billion.
Its earnings before interest, taxes, depreciation and
amortization, or Ebitda, tumbled 61% in the period to $1.6
billion.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
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