The decrease in profits was affected by sales and iron ore prices.
Vale, which was negatively impacted by sales and iron ore prices, saw its net profit decline by 59% compared to the same period of the previous year in the first quarter of 2023, reaching $180 million. This figure was below expectations.
Vale's revenue dropped by 22%
Vale's revenue decreased by 22% to $8.4 billion. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) were $3.6 billion.
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