Article source: Reuters Chinese Network
The world's largest iron ore miner - BrazilTamsui River ValleyIt was announced on Thursday that net revenue for the second quarter fell short of analysts' expectations, affected by currency depreciation and the write-down of several asset values.
Vale said in documents submitted to regulators that net revenue for the second quarter totaled 16 million US dollars, and analysts estimated an average of 421 million US dollars. After exchange rate and one-time project adjustments, net profit was $949 million.
Profit without interest, taxes, depreciation and amortization (EBITDA) was $2,729 million, lower than the average estimate of $2,854 million estimated by analysts interviewed by Thomson Reuters. (End)