Vale closes 2015 with impressive operational results and a significant reduction in costs

About Vale

2/25/2016

Vale closes 2015 with impressive operational results and a significant reduction in costs

Vale closes 2015 with impressive operational results and a significant reduction in costs

This Thursday, February 25, Vale published its consolidated financial results for 2015 and the fourth quarter of last year. The highlight of these were the company’s impressive operational results, which totalled US$ 7.1 billion in profit before interest and expenditure. “These are significant results, principally when considering the environment in which they were achieved,” points out Finance and Investor Relations executive director Luciano Siani Pires in the video to the side containing comments on the results. The director refers to the adversities that the company and the mining sector went through in 2015, such as the fall in the price of iron ore and the devaluation of the real by 47%. As a result of this, we registered losses of US$ 12.1 billion over the last year.

The reduction of costs and spending was one of Vale’s strong points over this period. To achieve positive operational generation, the whole company made an effort and managed to reduce its costs by US$ 5.9 billion. Vale invested US$ 8.4 billion along 2015. “Today we are one of the companies making the highest investments in the mining sector and in Brazil,” says Siani.

For 2016, Vale’s objective is to continue becoming an increasingly competitive company within this challenging scenario. “We are about to conclude the biggest investment in our history: the S11D project, which will go into operation in the second semester of this year and which promises to raise our company to new levels of competitiveness, cash flow generation and returns for our shareholders,” he states.

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


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Vale closes 2015 with impressive operational results and a significant reduction in costs