{"editorial":{"content_id":"375e5497-1c15-46a7-a7cf-3bdb5d27b9b2","slug":"samarco-20261030-71bad2","content_type":"news","title":"淡水河谷三季度净利润减半至64.3亿雷亚尔，汇率与Samarco拨备拖累","summary":"淡水河谷2025年第三季度净利润同比下降56%至64.3亿雷亚尔，主要受Samarco拨备调整和汇率影响。","body":"淡水河谷（Vale）2025年第三季度净利润为64.3亿雷亚尔，较上年同期下降56%，公司于周四（29日）晚间向巴西证券交易委员会提交的财报显示。以美元计，净利润为12.5亿美元，同比下降53%。\n\n公司称，业绩下滑主要反映联营和合资企业的负面影响，其中Samarco拨备调整达3.22亿美元，此外还有子公司税务亏损的汇率影响2.76亿美元以及更高的所得税。这些影响被衍生品按市值计价和结算增加6.1亿美元部分抵消。\n\n调整后EBITDA为170亿雷亚尔，同比下降28%，主要受铁矿石实现价格下降、Fábrica和Viga矿山停产导致成本上升、第三方铁矿石和镍采购成本增加、雷亚尔升值及运费上涨影响。总净收入为540亿雷亚尔，同比下降4%。\n\n铁矿石粉矿本季度实现价格为85.1美元/吨，61%品位铁矿石参考均价为96.7美元/吨。铁矿石仍是对EBITDA贡献最大的业务，但铜业务本季度表现突出，同比增长66%。\n\n首席执行官Gustavo Pimenta在财报中表示，公司业绩反映了战略的纪律性执行和对运营卓越的持续关注，并称“我们投资组合的灵活性、运费策略和对冲计划有助于保护利润率并维持稳健的现金流生成”。他还表示，Salobo项目创下第三季度产量纪录，铜和镍产量正朝着指引上半区间迈进。\n\n截至期末，淡水河谷总债务为175亿美元，净债务为130亿美元，过去12个月净债务与调整后EBITDA之比为0.8倍。","why_it_matters":null,"cbi_observation":null,"direction_tag":"巴西","primary_category":"科技平台","secondary_topics":["企业动态","金融","行业趋势","br-tech"],"content_level":"编辑整理","event_type":"公司动态","audience_tags":[],"event_location":null,"verification_status":"unverified","published_at":"2026-10-30T11:05:38.114Z","display_date":"2026-10-30","source_published_at":null,"source_url":"https://www.bloomberglinea.com.br/negocios/lucro-liquido-da-vale-no-3-trimestre-cai-pela-metade-com-efeitos-de-cambio-e-samarco/","source_name":"Bloomberg Línea Brasil","source_language":"pt","author_name":"编辑部","risk_level":"low","risk_flags":[],"opportunity_flags":[],"trend_signals":[]},"intelligence":null,"meta":{"canonical_url":"https://chinabrazilinsight.com/news/samarco-20261030-71bad2","api_url":"https://chinabrazilinsight.com/api/public/content/samarco-20261030-71bad2","markdown_url":"https://chinabrazilinsight.com/api/public/content/samarco-20261030-71bad2?view=markdown","json_url":"https://chinabrazilinsight.com/api/public/content/samarco-20261030-71bad2?view=json","last_updated":"2026-10-30T11:06:00.959Z","platform":"China Brazil Insight","platform_url":"https://chinabrazilinsight.com"}}