Vale posts lower net income in Q4 2022
Time:Tue, 21 Feb 2023 06:06:10 +0800
keywords :
Vale S.A. (Vale), a Brazilian multinational corporation engaged in metals and mining, reported that its net income was US$3.724 billion in the fourth quarter of 2022, compared to US$4.455 billion in the previous quarter and US$5.352 billion in the same quarter of 2021.
In the reporting period, the net operating revenue was US$11.94 billion, rising from US$9.93 billion in the previous quarter and falling from US$13.1 billion in the fourth quarter of 2021.
Besides, the adjusted EBITDA from continuing operations was US$4.63 billion, versus US$3.67 billion in the previous quarter and US$4.73 billion in the fourth quarter of 2021. The quarter-on-quarter growth was mainly due to the increased iron ore sales and higher prices of nickel and copper.
In 2022, the adjusted EBITDA from continuing operations was US$20.9 billion, a year-on-year decrease of 38%, primarily due to lower realized prices of iron ore fines.
