IHS Chemical Week

People & Business :: Earnings/Finance

Vale's fertilizer sales down 26%

4:03 AM MDT | May 1, 2014 | Francinia Protti-Alvarez

Vale (Rio de Janeiro) says that first-quarter net revenue from the company's fertilizer business amounted to $533 million, down 26% from $721 million one year earlier. The company did not disclose fertilizer net income. Adjusted Ebitda for the fertilizers business stood at $35 million in the first quarter, down 61% year-on-year (YOY) but up from a $105-million loss during the previous quarter. The $140-million quarter-on-quarter increase was mainly driven by lower costs and expenses, and exchange rate variations, which were partly offset by lower sales prices...

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