Vale S.A. (VALE) swung to a net profit for the year ended Dec. 31, 2016. The company has made a net profit of $3,982 million in the year, against a net loss of $12,129 million in the last year.
Revenue during the year grew 17.55 percent to $27,488 million from $23,384 million in the previous year. Gross margin for the year expanded 1598 basis points over the previous year to 35.79 percent. Operating margin for the year period stood at positive 25.65 percent as compared to a negative 26.65 percent for the previous year.
Operating income for the year was $7,052 million, compared with an operating loss of $6,231 million in the previous year.
Operating cash flow improves significantly
Vale S.A. has generated cash of $6,581 million from operating activities during the year, up 46.54 percent or $2,090 million, when compared with the last year.
The company has spent $4,698 million cash to meet investing activities during the year as against cash outgo of $6,159 million in the last year.
The company has spent $1,298 million cash to carry out financing activities during the year as against cash inflow of $1,703 million in the last year period.
Cash and cash equivalents stood at $4,262 million as on Dec. 31, 2016, up 18.69 percent or $671 million from $3,591 million on Dec. 31, 2015.
Debt moves up marginally
Vale S.A. has witnessed an increase in total debt over the last one year. It stood at $29,322 million as on Dec. 31, 2016, up 1.63 percent or $469 million from $28,853 million on Dec. 31, 2015.
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