VALE EUROPE LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. VALE EUROPE LIMITED 2010-08-06 → present
2. VALE INCO EUROPE LIMITED 2008-04-02 → 2010-08-06
3. INCO EUROPE LIMITED 1976-12-31 → 2008-04-02
4. INTERNATIONAL NICKEL LIMITED 1914-07-22 → 1976-12-31

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have a reasonable expectation that the company has adequate resources and pipeline from its wider group operations to continue in business for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing these financial statements.”

Group structure

1. VALE EUROPE LIMITED · parent
   1. Vale Taiwan Limited 100% · Taiwan · Nickel Refining

Significant events

• “In 2024, the Company recorded a turnover of £60 million related to the tolling agreement.”
• “Profit before tax of £18m (2023: £48m) has reduced year on year primarily due to movements in the Clydach Refinery asset retirement obligation (ARO). The ARO's plan was revised in 2023, which resulted in the underlying provision decreasing by £26.6m, also in 2024 the ARO the plan was revised as per the annual process and resulted in a decrease on the estimate of £7.6m.”
• “Research and Development projects - In 2024 work has continued in the first algae farm to progress the operation closer to a TRL8/9 level from the TRL7 it is currently at. This has involved working with potential customers while also further refining the growing and processing techniques. On the second algae farm all construction work has been completed in the demonstration plant and the plant has been put into operation.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -7.1%

  £65,104,000 → £60,496,000

• Cash

  +201.2%

  £2,105,000 → £6,340,000

• Net assets

  +3.3%

  £180,198,000 → £186,137,000

• Employees

  +1%

  195 → 197

• Operating profit

  -76%

  £34,005,000 → £8,171,000

• Profit before tax

  -63.4%

  £48,422,000 → £17,717,000

• Wages

  +22.8%

  £10,978,000 → £13,481,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers