Vale posts US$1.43 billion in profits for Q2

Friday, 01 August 2014 01:43:47 (GMT+3)   |   Sao Paulo
       

Vale posted second-quarter profits Thursday of $1.43 billion, compared to $424 million in Q2 2013. Adjusted earnings before interest, tax, depreciation, and amortization, or Ebitda, fell to $4.1 billion.

Vale’s net sales dropped by 7.1 percent to $9.9 billion in the quarter, and the company invested $5.1 billion in the first half of the year, 34 percent of the $14.8 billion budgeted for 2014 due to decreased project costs.


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