Bradespar (BRAP4) generated profits of R$343.1 million in the first quarter, a year-on-year decline of 55.3%.

Holding Bradespar (BRAP4) recorded a net profit of R$343.1 million on its balance sheet for the first quarter of 2024. Compared to the same period of the previous year, when the figure was R$768.3 million, there was a decline of 55.3%.

As an investment company, Bradespar's operating income comes from the result of the equity and interest equation on Vale's own capital (VALE3).

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Regarding operating income, the company reached R$ 339.7 million between January and March of this year, representing a 55.2% decrease compared to the same period in 2023.

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Regarding expenses, administrative and general expenses increased by 17.5% during the year to reach R$2 million.

In the financial area, the company recorded a positive financial result of R$ 11.5 million, a decrease of 36.6% year-on-year, mainly due to financial investments and bonuses on recoverable taxes.