A Bradespar, a company controlled by Bradesco and one of the main shareholders of Vale, ended the third quarter of 2021 with a net profit of BRL 1.175 billion, compared to a positive result of BRL 796.608 million registered in the same period in 2020. Between July and September, the company recorded operating revenue of BRL 1.163 billion.
In the first nine months of the year, it reported record operating income of BRL 5.159 billion, compared to BRL 1.238 billion in the same period in 2020.
As the company of investments, Bradespar’s operating income comes from Vale’s equity income and interest on equity.
The company highlights Vale’s solid performance in the period, totaling Ebitda adjusted of US$ 7.1 billion, with emphasis on the area of Ferrous Minerals (US$ 6.7 billion).
“Although impacted by the effect of the reduction in the price index in the period, mainly by cuts in steel production in China, it still represented the highest Ebitda for a third quarter since 2012,” he points out.
In the third quarter of 2021, Bradespar’s financial result reached the positive amount of R$4.9 million, mainly due to financial investments and remuneration on Recoverable Taxes.
“This result reflects the continuity of the company’s positive net cash position, as it paid off all the financial debt in previous years”, he points out.
Reference: CNN Brasil
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