Vale lowered its net revenue by 32.4% y/y in 2022

Brazilian corporation Vale, one of the largest iron ore producers in the world, has released its financial results for the 4th quarter of 2022. It is stated on the company’s website.

In the fourth quarter of 2022 (October-December), the company’s net revenue fell by 30.4% y/y – to $3.7 billion due to production cuts and lower iron ore prices.

The company’s net operating income decreased by 12.3% y/y in this period – to $11.9 billion.

At the end of 2022, the net revenue of the corporation amounted to $16.7 billion, having decreased by 32.4% compared to the previous year.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) totaled $4.62 billion in October-December last year compared to $4.72 billion in the fourth quarter of 2021. The company’s capital expenditures during this period amounted to about $1.8 billion.

Vale President Eduardo Bartolomeo commented on the company’s plans for the steel sector.

“In Iron Solutions, we advanced on our path to becoming the supplier of choice for high-quality products, leveraging Vale’s unique mineral endowment and capitalizing on the decarbonization trend of the steel industry,” he said.

As GMK Center reported earlier, Vale in 2022 reduced production of iron ore by 2% compared to the same period in 2021 – to 308 million tons. Production of iron ore pellets increased by 1% compared to 2021 – up to 32 million tons. In the fourth quarter of 2022, 81.7 million tons of iron ore and 9.07 million tons of pellets were produced. On an annual basis, this is 1% and 8.9% less, respectively.

Also, in January-November 2022, the corporation reduced export of iron ore by 17.6% compared to the same period in 2021 – to 210.03 million tons. In November 2022, the company exported 19.32 million tons of iron ore, which is 8.2% more than in October and 25.9% less than in November 2021.

  • Global Market

Global exports of coking coal fell by 1.4% year-on-year in January-May

Global coking coal exports in January-May 2025 decreased by 1.4% year-on-year to approximately 139 million…

Wednesday June 25, 2025
  • Global Market

European steel producers call on Brussels to impose duties on scrap exports

Steel producers in the EU are calling for the introduction of duties or restrictions on…

Wednesday June 25, 2025
  • Global Market

France reduced steel production by 20.6% y/y in May

In May 2025, French steel enterprises reduced steel production by 20.6% compared to May 2024,…

Wednesday June 25, 2025
  • Companies

Třinecké železárny produced 2.42 million tons of steel in 2024

In 2024, Czech steel giant Třinecké železárny (TŽ) increased its steel production to 2.425 million…

Wednesday June 25, 2025
  • State

The German government has approved a draft budget with a high level of borrowing

On June 24, the German government approved the draft federal budget for 2025, along with…

Wednesday June 25, 2025
  • Companies

Interpipe supplied premium pipes for gas production in Romania

Ukrainian industrial company Interpipe has supplied premium pump and compressor pipes to Romania. This is…

Wednesday June 25, 2025