Thanks to strong shipments, Vale's adjusted EBITDA for Q2 reached $4 billion
楚一帆
发表于 2024-7-26 20:36:34
190
0
0
On July 25th, Vale disclosed its Q2 2024 performance. In that quarter, the company's strong shipment volume resulted in a formally adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $4 billion.
We maintained strong operational performance this quarter. In terms of iron ore solutions, thanks to the stable performance of S11D, our production reached the highest record for the second quarter since 2018. In order to achieve our strategic goal of becoming the preferred raw material supplier for low-carbon emission steel, we are advancing key growth projects such as Dawarjen and Capanema, which will increase our production capacity by 30 million tons in the next 12 months. In addition, we are pleased to announce a partnership on a mega hub strategy that will further consolidate our market position as a competitive direct reduction product supplier. In terms of energy transition metals, we have restored the Sosegu, Onsabuma, and Salobo mining areas. Operation of; We recently announced the appointment of Mr. Shaun Usmar as the new CEO of Vale Base Metals Limited to lead our copper nickel business. He will bring us extensive mining experience and strategic vision. Finally, we have successfully dismantled the B3/B4 mining dams, and we are expected to complete 53% of the upstream dam de characterization plan by the end of this year, thereby strengthening our commitment to safety and sustainable development Eduardo Bartolomeo, CEO of Vale, said about the business situation.
According to the financial report, in the second quarter of 2024, Vale's iron ore shipments increased by 5.4 million tons year-on-year and 16 million tons month on month, with growth rates of 7% and 25%, respectively. This is due to the highest production volume in the second quarter since 2018 and the completion of inventory sales. During the same period, the cash cost of the company's iron ore powder ore C1 (excluding third-party procurement) was $24.9/ton, an increase of 6% compared to the previous period, mainly due to the impact of seasonal inventory turnover and concentrated maintenance and repair activities.
In the second quarter of 2024, the freight cost of Vale iron ore powder was $19.0 per ton, a decrease of $0.3 per ton compared to the previous quarter, and $6.8 per ton lower than the average freight cost of the Brazil China C3 route in the second quarter, thanks to the company's long-term charter contracts. During the same period, the company's quarterly total costs for copper and nickel were $3651/ton and $15000/ton, respectively, both of which are expected to achieve their annual cost guidance targets.
In terms of capital allocation, in the second quarter of 2024, Vale's capital expenditure was $1.3 billion, a year-on-year increase of $100 million, in line with the annual guidance target of approximately $6.5 billion.
Vale is one of the world's largest iron ore producers and the largest mining company on the American continent. The company's first quarter 2024 financial report shows that Vale's formally adjusted EBITDA (earnings before interest, tax, depreciation, and amortization, including EBITDA share of $203 million in affiliated and joint ventures) was $3.5 billion, a decrease of 9% year-on-year and 49% month on month, mainly due to the weakening of the actual price of iron ore powder. The month on month changes are also affected by seasonal sales declines.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Ideal Automobile: Q2 revenue of 31.678 billion yuan, a year-on-year increase of 10.6%
- Ideal Automobile's adjusted net profit attributable to shareholders in the second quarter was RMB 1.5 billion, a year-on-year decrease of 44%
- Yaduo Group: Q2 profit increased by over 30%, expected annual revenue growth of 48% to 50%
- The performance of the e-commerce sector rebounded, and Baozun E-commerce achieved a revenue of 2.4 billion yuan in the second quarter
- Yaduo Group's adjusted net profit for the second quarter of 2024 is 328 million yuan
- Zhiwen Group's Q2 revenue was 2.691 billion yuan
- Zhiwen Group's net revenue for the second quarter of 2024 was 2.691 billion yuan, and its repurchase efforts continue to expand
- Vale collaborates with Midrex to use iron ore pellets for direct reduction plants
- Education Technology announces second quarter financial report with 165% month on month revenue growth
- NIO's Q2 revenue loss narrowed from 17.45 billion yuan to 5.046 billion yuan, with a pre-market increase of nearly 5% in the US stock market
-
9月5日、蔚来は2024年第2四半期の財政報告を発表し、第2四半期の売上高は174億5000万元で、前年同期比98.9%増加した。今年第2四半期、蔚来は累計5万7400台の新車を納入した。 財報の発表当日、資本市場で前向きなフ ...
- 就放荡不羁就h
- 前天 12:39
- 支持
- 反对
- 回复
- 收藏
-
JPモルガン・チェース首席米経済学者マイケル・フェローリ(Michael Feroli)氏は最近、FRBは9月の会議で金利を50ベーシスポイント引き下げなければならないと述べた。 現地時間の木曜日(9月5日)、フェリリ氏はメ ...
- 不正经的工程师
- 前天 21:44
- 支持
- 反对
- 回复
- 收藏
-
【クアルコムCEO:サムスンとグーグルと協力してハイブリッド現実眼鏡を開発中】クアルコムのクリスティア・アモン最高経営責任者は、クアルコムがサムスンとグーグルと協力してスマートフォンにつながるハイブリッ ...
- 寒郁轩良
- 前天 10:33
- 支持
- 反对
- 回复
- 收藏
-
新京報の貝殻財経記者の調べによると、iOS版の微信は更新可能で、バージョン番号は8.0.51だった。 アップルはこれまで、間もなく発売されるiPhone 16でテンセントホールディングスの微信アプリケーションの更新を承 ...
- SOGO
- 前天 20:46
- 支持
- 反对
- 回复
- 收藏