Rio, 16. (Agência Brasil - ABr) – The Companhia Vale do Rio Doce had net a profit of US$ 275 million in the first quarter of 2002. The raw revenue of the company reached US$ 987 million and the capital generation measured by the EBITDA (profits less financial expenditures, taxes, devaluation and payment of debts) was of US$ 444 million. The EBITDA margin (relation between EBITDA and net revenue) reached 46.6%. For the first time, the CVRD released quarterly consolidated financial results in following the US GAAP - accountable principles accepted in United States.

The sales of iron ore and pellets totaled 33,663 million tons, 11.6% higher than the result in the same period of 2001. In consolidated terms, the sales reached 38.019 million tons as opposed 33.066 million tons between January and March of 2001. Around 85% of the sales went to the foreign market. The investments made by the company in the first quarter of 2002 totaled US$ 157,6 million, of which 51,5% (US$ 81,1) were spent with projects. (WPS)