Rio de Janeiro, (ANTARA News/PRNewswire-AsiaNet) - Companhia Vale do Rio Doce (Vale) showed a solid performance in the first quarter of 2008 (1Q08) in spite of the negative effects of currency volatility and the pressures on costs generated by the price increases for inputs. In this context, expansion of production and the effort to contain costs were fundamental to achieving strong results.
The main highlights of our performance in 1Q08 were:
-- Record shipments of iron ore and pellets in a first quarter: 76.572 million metric tons
-- a 15% increase on 1Q07.
-- Records for a first quarter in shipments of aluminum (136,000 metric tons), alumina (833,000 metric tons), cobalt (740 metric tons) and platinum group metals (86,000 troy ounces).
-- Gross revenue of US$ 8.048 billion, 4.8% more than in 1Q07.
-- Operational profit, as measured by adjusted EBIT(a) (earnings before interest and taxes) of US$ 2.915 billion, an increase of 7.9% over 1Q07.
-- Adjusted EBIT margin of 37.2% against 36.1% in 1Q07.
-- Adjusted EBITDA(b) (earnings before interest, taxes, depreciation and amortization), of US$ 3.729 billion, an increase of 17.1% relative to 1Q07.
-- Net earnings of US$ 2.021 billion, corresponding to earnings per share on a fully diluted basis of US$ 0.41, a 8.8% reduction on the 1Q07 result of US$ 2.217 billion.
-- Investments totaled US$ 1.695 billion, of which US$ 1.304 billion in organic growth -- R&D and projects -- and US$ 391 million in sustaining existing operations.
-- Delivery of three new projects: the Fazendao iron ore mine in the Southeastern System, in the state of Minas Gerais, the third Samarco pelletizing plant in the state of Espirito Santo, and Dalian, a nickel processing plant in the province of Liaoning, China.
-- Dividend distribution of US$ 0.26 per common or preferred share -- US$1.25 billion -- to be made as from April 30, 2008, corresponding to the first installment of the minimum dividend for 2008, of which 55% in the form of interest on equity and 45% in dividends.
-- Investment in corporate social responsibility of US$ 155 million, of which US$ 105 million allocated to environmental protection and conservation, and US$ 50 million to social projects.
SOURCE Vale
CONTACT: Roberto Castello Branco,
roberto.castello.branco@vale.com,
Alessandra Gadelha,
alessandra.gadelha@vale.com,
Patricia Calazans,
patricia.calazans@vale.com,
Theo Penedo,
theo.penedo@vale.com,
or Marcus Thieme,
marcus.thieme@vale.com,
or Tacio Neto,
tacio.neto@vale.com, all of Vale,
+011-55-21-3814-4540 Web site: http://www.cvrd.com.br
http://www.vale.com
(RIO)
The main highlights of our performance in 1Q08 were:
-- Record shipments of iron ore and pellets in a first quarter: 76.572 million metric tons
-- a 15% increase on 1Q07.
-- Records for a first quarter in shipments of aluminum (136,000 metric tons), alumina (833,000 metric tons), cobalt (740 metric tons) and platinum group metals (86,000 troy ounces).
-- Gross revenue of US$ 8.048 billion, 4.8% more than in 1Q07.
-- Operational profit, as measured by adjusted EBIT(a) (earnings before interest and taxes) of US$ 2.915 billion, an increase of 7.9% over 1Q07.
-- Adjusted EBIT margin of 37.2% against 36.1% in 1Q07.
-- Adjusted EBITDA(b) (earnings before interest, taxes, depreciation and amortization), of US$ 3.729 billion, an increase of 17.1% relative to 1Q07.
-- Net earnings of US$ 2.021 billion, corresponding to earnings per share on a fully diluted basis of US$ 0.41, a 8.8% reduction on the 1Q07 result of US$ 2.217 billion.
-- Investments totaled US$ 1.695 billion, of which US$ 1.304 billion in organic growth -- R&D and projects -- and US$ 391 million in sustaining existing operations.
-- Delivery of three new projects: the Fazendao iron ore mine in the Southeastern System, in the state of Minas Gerais, the third Samarco pelletizing plant in the state of Espirito Santo, and Dalian, a nickel processing plant in the province of Liaoning, China.
-- Dividend distribution of US$ 0.26 per common or preferred share -- US$1.25 billion -- to be made as from April 30, 2008, corresponding to the first installment of the minimum dividend for 2008, of which 55% in the form of interest on equity and 45% in dividends.
-- Investment in corporate social responsibility of US$ 155 million, of which US$ 105 million allocated to environmental protection and conservation, and US$ 50 million to social projects.
SOURCE Vale
CONTACT: Roberto Castello Branco,
roberto.castello.branco@vale.com,
Alessandra Gadelha,
alessandra.gadelha@vale.com,
Patricia Calazans,
patricia.calazans@vale.com,
Theo Penedo,
theo.penedo@vale.com,
or Marcus Thieme,
marcus.thieme@vale.com,
or Tacio Neto,
tacio.neto@vale.com, all of Vale,
+011-55-21-3814-4540 Web site: http://www.cvrd.com.br
http://www.vale.com
(RIO)
COPYRIGHT © 2008
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