Brazil's Vale Climbs Back to Profit on Rising Commodity Prices
February 23 2017 - 5:12AM
Dow Jones News
By Rogerio Jelmayer
SAO PAULO--Brazilian mining company Vale SA (VALE) swung to net
profit in the fourth quarter as rising commodity prices, mainly for
iron ore, helped the company expand its revenue.
The company reported net profit Thursday of $525 million in the
fourth-quarter, compared with a net loss of $8.57 billion a year
earlier.
Its net operating revenue rose 64% to $9.69 billion.
Vale's adjusted earnings before interest, taxes, depreciation
and amortization more than tripled to $4.77 billion from $1.39
billion a year earlier.
Net debt ended the year at $25.07 billion, down slightly from
$25.23 billion at the end of 2015.
-Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
(END) Dow Jones Newswires
February 23, 2017 04:57 ET (09:57 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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