Vale recorded net income attributable to shareholders of US$ 4.458 billion in the first quarter of 2022, a decrease of 19.6% compared to the same period in 2021. In reais, the company’s profit reached R$ 23.16 billion, a decrease of 24.4% compared to the same period last year (R$ 30.637 billion).
In the financial statements released this Wednesday, 27th, Vale informs that the cash generation measured by the adjusted EBITDA (earnings before interest, taxes, amortization and depreciation) decreased 23.5% in one year, to US$ 6.385 billion.
The mining company’s net operating revenue from sales was $11.26 billion in the first quarter of this year, 11% down on the first quarter of last year.
Vale’s main business, iron ore production reached 63.928 million tons in the first quarter of 2022, down 6% over the same period last year, as the company’s production report released recently showed. Sales fell 9.6% on this basis of comparison, to 53.603 million tons.