Vale S.A. (VALE) annual results, year to 31 December 2018: revenue USD 36,575 million, from the 20-F
Vale S.A. files a 20-F with the SEC once a year, in US dollars. In the year to 31 December 2018 it reported revenue of USD 36,575 million, up 7.7% on the year before. Its profit attributable to shareholders was USD 6,860 million, up 24.6%.
The year to 31 December 2018, against the year before
| Year to | Dec 2017 † | Dec 2018 † |
|---|---|---|
| Revenue | 33,967 | 36,575 |
| Cost of sales | 21,039 | 22,109 |
| Gross profit | 12,928 | 14,466 |
| Research and development | 340 | 373 |
| Selling, general and administrative | 531 | 523 |
| Operating profit | 10,930 | 11,955 |
| Finance costs | 3,273 | 2,314 |
| Profit before tax | 7,829 | 6,816 |
| Income tax | 1,495 | -172 |
| Profit for the year | 5,521 | 6,896 |
| Profit attributable to shareholders | 5,507 | 6,860 |
| Filing | 20-F | 20-F |
USD million, from the 20-F on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated.
Cash flow
| Year to | Dec 2017 † | Dec 2018 † |
|---|---|---|
| Cash from operations | 12,450 | 12,901 |
| Purchase of property, plant and equipment | 3,831 | n/a |
| Free cash flow | 8,619 | n/a |
| Dividends paid | 1,456 | 3,313 |
| Filing | 20-F | 20-F |
USD million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Dec 2017 † | Dec 2018 † |
|---|---|---|
| Total assets | 99,184 | 88,190 |
| Equity attributable to shareholders | 43,458 | 43,985 |
| Cash and cash equivalents | 5,784 | 5,784 |
| Borrowings, as filed | 22,489 | 15,466 |
| Inventories | 3,926 | 4,443 |
| Filing | 20-F | 20-F |
USD million, at each fiscal year end.
Ratios on the filed lines
| Year to | Dec 2017 † | Dec 2018 † |
|---|---|---|
| Gross margin | 38.1% | 39.6% |
| Operating margin | 32.2% | 32.7% |
| Net margin | 16.2% | 18.8% |
| Free cash flow margin | 25.4% | n/a |
| Return on year-end equity | 12.7% | 15.6% |
| Effective tax rate | 19.1% | -2.5% |
| Filing | 20-F | 20-F |
Arithmetic on the filed lines of the same year.
Every annual report here
- Year to 31 December 2025
- Year to 31 December 2024
- Year to 31 December 2023
- Year to 31 December 2022
- Year to 31 December 2021
- Year to 31 December 2020
- Year to 31 December 2019
- Year to 31 December 2018, this page
- Year to 31 December 2017
- Year to 31 December 2016
- Year to 31 December 2015
Source
20-F for the year to 31 December 2018, filed 24 March 2021, accession 0001047469-21-000687: the filing on EDGAR. All of Vale S.A.'s filings: EDGAR company page. The figures are in US dollars as filed.
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