Vale SA reported a net loss in 2014 as iron-ore prices fell by nearly half, the local currency weakened and impairment charges continued to haunt the company.
Vale, the world's largest iron-ore producer, reported a fourth-quarter loss of $1.85 billion, compared with a loss of $6.45 billion in the last three months of 2013.
Earnings before interest, taxes, depreciation and amortization, or Ebitda, tumbled by two-thirds from the fourth quarter a year earlier to $2.19 billion.
Vale's sales fell 31% on the year to $9.07 billion.
Source: Wall Street Journal |
