Vale’s profits skyrocket 2,220% in the first quarter

Vale confirmed market expectations and announced Monday a net income of $5.5 billion in the first quarter of the year. In dollars, compared to the same period in 2020, the increase was 2,220%. Sales revenue was $12.6 billion, up 81.4% year-on-year. And earnings before interest, taxes, depreciation, and amortization (Ebitda) reached $8.35 billion, up 189.7% year-on-year. The results were driven by iron ore prices, the company’s core business.

Source: Valor international