Vale finishes the first quarter of 2017 with the highest profit since 2014

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4/27/2017

Vale finishes the first quarter of 2017 with the highest profit since 2014

Vale finishes the first quarter of 2017 with the highest profit since 2014

On this Thursday, April 27th, Vale announced its financial results for the first quarter of 2017. The big highlight of the period is the net profit of USD 2.5 billion, the largest since the first quarter of 2014. "Vale finished 2016 very well and started 2017 in style. We are very proud with this recovery of the company after many years,” celebrated the Finance and Investor Relations Executive Director, Luciano Siani Pires, in the video on the side about the company's performance.

In operational performance, Vale achieved a production record in iron ore for a first quarter, of 86,2 million tons. The performance was largely credited to the ramp-up of S11D project, in Pará, and Itabirito project, in Minas Gerais. Another good news is the approval of the payment to our shareholders, totaling USD 1.5 billion (find out here how the payment will be made).

The good result led to a significant reduction of our debt, which went down from USD 25 billion to USD 22.8 billion.

"The company is in a deleverage path and, in the next quarters, we will reach even better results", Siani stated.

Watch the full video and learn more about our results in the infographic below.


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Vale finishes the first quarter of 2017 with the highest profit since 2014