Interim Financial Statements
September 30, 2021
BRGAAP in R$ (English)
Vale S.A. Interim Financial Statements
Contents
Page | |||
Report on review of quartely information | 3 | ||
Consolidated and Parent Company Income Statement | 5 | ||
Consolidated and Parent Company Statement of Comprehensive Income | 6 | ||
Consolidated and Parent Company Statement of Cash Flows | 7 | ||
Consolidated and Parent Company Statement of Financial Position | 8 | ||
Consolidated Statement of Changes in Equity | 9 | ||
Consolidated and Parent Company Value Added Statement | 10 | ||
Notes to the Interim Financial Statements | 11 | ||
1. | Corporate information | ||
2. | Basis of preparation of the interim financial statements | ||
3. | Significant events in the current period | ||
4. | Information by business segment and by geographic area | ||
5. | Costs and expenses by nature | ||
6. | Financial results | ||
7. | Income taxes | ||
8. | Basic and diluted earnings per share | ||
9. | Accounts receivable | ||
10. | Inventories | ||
11. | Other financial assets and liabilities | ||
12. | Acquisitions and divestitures | ||
13. | Investments in subsidiaries, associates and joint ventures | ||
14. | Intangible | ||
15. | Property, plant and equipment | ||
16. | Financial and capital risk management | ||
17. | Financial assets and liabilities |
18. Participative stockholders' debentures
19. Loans, borrowings, leases, cash and cash equivalents and short-term investments
20. Brumadinho's dam failure
21. Liabilities related to associates and joint ventures
22. Provisions
23. Litigations
24. Employee benefits
25. Stockholders' equity
26. Related parties
27. Parent Company information (individual interim information)
2
Report on review of quarterly information
To the Board of Directors and Stockholders
Vale S.A.
Introduction
We have reviewed the accompanying consolidated and parent company interim accounting information of Vale S.A. ("Company"), included in the Quarterly Information Form (ITR) for the quarter ended September 30, 2021, which comprises the parent company and consolidated statements of financial position as of September 30, 2021 and the respective parent company and consolidated income statements and the statements of comprehensive income for the three and nine-month periods then ended, the statement of changes in equity for the nine-month period then ended, the parent company statement of cash flows for the nine-month period then ended and the consolidated statements of cash flows for the three and nine-month periods then ended, and a summary of significant accounting policies and other explanatory information.
Management is responsible for the preparation of the consolidated and parent company interim accounting information in accordance with the accounting standard CPC 21, Interim Financial Reporting, of the Brazilian Accounting Pronouncements Committee (CPC) and International Accounting Standard (IAS) 34, Interim Financial Reporting issued by the International Accounting Standards Board (IASB), as well as the presentation of this information in accordance with the standards issued by the Brazilian Securities Commission (CVM), applicable to the preparation of the Quarterly Information (ITR). Our responsibility is to express a conclusion on this interim accounting information based on our review.
Scope of review
We conducted our review in accordance with Brazilian and International Standards on Reviews of Interim Financial Information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion on the interim information
Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated and parent company interim accounting information included in the quarterly information referred to above has not been prepared, in all material respects, in accordance with CPC 21 and IAS 34 applicable to the preparation of the Quarterly Information, and presented in accordance with the standards issued by the CVM.
3
Other matters
Value added statements
The quarterly information referred to above includes the parent company and consolidated statements of value added for the nine-month period ended September 30, 2021. These statements are the responsibility of the Company's management and are presented as supplementary information under IAS 34. These statements have been subjected to review procedures performed together with the review of the interim accounting information for the purpose of concluding whether they are reconciled with the interim accounting information and accounting records, as applicable, and if their form and content are in accordance with the criteria defined in the accounting standard CPC 09 - "Statement of Value Added". Based on our review, nothing has come to our attention that causes us to believe that these statements of value added have not been properly prepared, in all material respects, in accordance with the criteria established in this accounting standard, and consistent with the parent company and consolidated interim accounting information taken as a whole.
Rio de Janeiro, October 28, 2021 | |
PricewaterhouseCoopers | Patricio Marques Roche |
Auditores Independentes Ltda. | Contador CRC 1RJ081115/O-4 |
CRC 2SP000160/O-5 |
4
Income Statement
In millions of Brazilian reais, except earnings per share data
Consolidated | ||||||||||
Three-month period ended | Nine-month period ended | |||||||||
September 30, | September 30, | |||||||||
Notes | 2021 | 2020 | 2021 | 2020 | ||||||
Net operating revenue | 4(c) | 66,261 | 57,906 | 223,409 | 129,591 | |||||
Cost of goods sold and services rendered | 5(a) | (30,533) | (25,893) | (86,505) | (67,775) | |||||
Gross profit | 35,728 | 32,013 | 136,904 | 61,816 | ||||||
Operating expenses | ||||||||||
Selling and administrative expenses | 5(b) | (603) | (684) | (1,889) | (1,864) | |||||
Research and evaluation expenses | (708) | (563) | (2,003) | (1,476) | ||||||
Pre-operating and operational stoppage | 3 and 20 | (858) | (1,011) | (2,648) | (3,480) | |||||
Brumadinho event | 20 | (847) | (613) | (2,437) | (2,014) | |||||
Other operating expenses, net | 5(c) | (162) | (612) | (638) | (2,161) | |||||
(3,178) | (3,483) | (9,615) | (10,995) | |||||||
Impairment and disposals of non-current assets | 12 and 15 | (12,622) | (1,608) | (15,700) | (4,004) | |||||
Operating income | 19,928 | 26,922 | 111,589 | 46,817 | ||||||
Financial income | 6 | 475 | 370 | 1,331 | 1,576 | |||||
Financial expenses | 6 | (678) | (6,571) | (9,178) | (11,993) | |||||
Other financial items, net | 6 | (1,736) | (1,179) | 7,594 | (10,040) | |||||
Equity results and other results in associates and joint ventures | 13 and 21 | 670 | (211) | (1,688) | (3,763) | |||||
Income before income taxes | 18,659 | 19,331 | 109,648 | 22,597 | ||||||
Income taxes | 7(b) | |||||||||
Current tax | (12,867) | (4,018) | (27,409) | (7,352) | ||||||
Deferred tax | 14,782 | (241) | 8,356 | 5,341 | ||||||
1,915 | (4,259) | (19,053) | (2,011) | |||||||
Net income | 20,574 | 15,072 | 90,595 | 20,586 | ||||||
Net income (loss) attributable to non-controlling interests | 371 | (543) | (267) | (1,302) | ||||||
Net income attributable to Vale's stockholders | 20,203 | 15,615 | 90,862 | 21,888 | ||||||
Earnings per share attributable to Vale's stockholders: | ||||||||||
Basic and diluted earnings per share: | ||||||||||
Common share (R$) | 8 | 3.98 | 3.04 | 17.94 | 4.27 |
The accompanying notes are an integral part of these interim financial statements.
5
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Vale SA published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 00:37:02 UTC.