Vale’s earnings fall 18 percent due to seasonal pressures

Friday, 27 April 2012 02:24:24 (GMT+3)   |  
       

Brazil's Vale said Thursday that seasonality usually makes Q1 the quarter with the weakest operational and financial performance of the year, with 2012 being no different; extremely heavy rainfalls in Brazil forced Vale to declare force majeure in January.  Net earnings of US$ 3.8 billion represented an 18.1 percent drop against the US$ 4.7 billion in Q4 2011.

Still, Vale said pellet shipments were 10.4 million tons, a record for a first quarter, and up 0.9 percent year-on-year. Coal shipments reached a record 2.8 million tons.


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