The following is a summary of the Nexa Resources S.A. (NEXA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Nexa reported Q1 2024 consolidated net revenues of $580 million, decreasing 13% year-over-year mainly due to lower zinc prices, lower premiums, and fewer metal sales.

• Adjusted EBITDA for Q1 fell to $123 million, a decrease from $133 million in the previous year, predominantly due to lower zinc prices and metal sales.

• Despite the lower zinc prices, the consolidated adjusted EBITDA rose 17% from Q4 2023 due to reductions in costs and mineral exploration and project evaluation expenses.

• The company saw a 17% YoY increase in zinc production, leading to a mining cash cost decrease to $0.27 per pound.

Business Progress:

• Nexa made steady business progress despite operational challenges and maintained cost discipline.

• A 59% increase in mineral reserves at Cerro de Pasco was reported, alongside a 10% overall increase in mineral reserves in 2023.

• The company's Aripuanã project is progressing well and is expected to complete the ramp-up by mid-2024.

• Nexa extended its debt profile from 3.7 years to approximately seven years through a new bond issuance.

• Despite the divestiture of the Morro Agudo mine, the company managed to maintain its guidance on production and costs.

• Nexa is actively involved in M&A and is exploring projects similar to their current mines in copper.

More details: Nexa Resources IR

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