Nexa Resources S.a. · NYSE:NEXA
Nexa Resources — Q1 2025 Earnings Presentation
11 slides from Nexa Resources's earnings presentation, Apr 29, 2025
Slide 1: Nexa Reports First Quarter 2025 Financial Results
US$ million (except per share amounts) 1Q25 4Q24 1Q24 Nexa Reports First Quarter 2025 Financial Results including Net Income of US$29 million and Adjusted EBITDA of US$125 million Luxembourg, April 29, 2025 – Nexa Resources S.A. (“Nexa Resources”, “Nexa”, or the “Company”) announces today its result
Slide 2: Compared to 4Q24, Adjusted EBITDA decreased by 36%
Compared to 4Q24, Adjusted EBITDA decreased by 36%. This decrease was mainly attributed to (i) lower smelting sales volume of US$33 million across all smelters; (ii) an increase of US$30 million in other variations, primarily attributed to the reversal of environmental liabilities related to the Trê
Slide 3: Net Income (Loss) reconciliation to Adjusted EBITDA
US$ million 1Q25 4Q24 1Q24 Net Income (Loss) reconciliation to Adjusted EBITDA Net Income (loss) 28.7 (111.4) (12.0) Depreciation and amortization 65.8 96.6 77.0 Share in the results of associates (4.9) (4.7) (5.7) Net financial results 0.6 141.6 67.9
Slide 4: Adjusted EBITDA for the mining segment in 1Q25
Adjusted EBITDA for the mining segment in 1Q25 totaled US$94 million, up 20% compared to US$78 million in 1Q24. This increase was primarily attributed to (i) a positive net price effect of US$34 million, resulting from higher zinc and copper prices; (ii) favorable foreign exchange variations of US$1
Slide 5: Mining segment Adjusted EBITDA compared to 4Q24
Compared to 4Q24, Adjusted EBITDA decreased by 23%. This performance was primarily driven by (i) a negative impact of US$41 million due to lower zinc sales across all units (except for Cerro Lindo), along with decreased lead and copper sales at Aripuanã, reduced copper sales at Cerro Lindo, and lowe
Slide 6: Consolidated cash cost 1Q25 vs. 1Q24 and 4Q24
Consolidated cash cost 1Q25 4Q24 1Q24 1Q25 vs. 1Q24 1Q25 vs. 4Q24 Run-of-mine cost, Cash cost and AISC 4 Run-of-mine mining cost US$/t 47.9 44.3 44.7 7.2% 8.1% Cash cost net of by-products US$/t (2) (56.1%) - Our cash cost and AISC are net of by-products credits, measured with respect to zinc sold.
Slide 7: Zinc cost of sales
US$ million Zinc Current period concentrate purchase 276.2 Price adjustments (MIM) (2.8) 273.4 Final adjustments 0.9 Other Variable and Fixed Cost 1317 Energy (4.2) Depreciation 22.7 424.4 Total Cost of sales 1Q25 4Q24
Slide 8: Smelting segment Adjusted EBITDA compared to 4Q24
Compared to 4Q24, Adjusted EBITDA decreased by 59%, mainly driven by (i) a negative net impact of US$22 million in other variations , primarily attributed to the reversal of environmental liabilities related to the Três Marias decommissioning plan that benefitted 4Q24 , a reduction in cash dividend
Slide 9: Conversion cost, Cash cost and AISC
Consolidated 1Q25 4Q24 1Q24 1Q25 vs. 1Q24 1Q25 vs. 4Q24 Conversion cost, Cash cost and AISC 5 Smelting conversion cost US$/t 8.6% 10.9% Cash cost net of by-products US$/t 2,576 2,771 2,158 19.4% (7.0%) AISC net of by-products US$/t 2,780 3,016 2,299 20.9% (7.8%) Smelting conversion cost US$/lb 0.33
Slide 10: Cash and cash equivalents and financial investments
Cash and cash equivalents and financial investments (“total cash”) amounted to US$401 million on March 31, 2025, 37% lower compared to December 31, 2024, mainly driven by working capital investment of US$265 million, partially offset by positive cash flows from operations during the quarter. Total c
Slide 11: Net debt and leverage
US$ million Mar 31, 2025 Dec 31, 2024 On March 31, 2025, Nexa’s net debt 7 was US$1,488 million compared with US$1,217 million at the end of 4Q24. Gross Debt 1,781.9 1,762.6 Net debt 1,488.2 1,216.8 LTM Adj. EBITDA 710.7 714.1 Net debt/LTM Adj. EBITDA 2.09x 1.70x Loans and financing (“gross debt”) G