Nexa Resources Reports Solid Operational Performance and Financial Results in 2Q24

Nexa Resources, a leading zinc producer, reported a strong financial performance for 2Q24. Adjusted EBITDA reached US$ 200 million, marking an increase of 64% quarter-over-quarter and 180% year-over-year. This growth was mainly due to higher sales volumes, improved margins at Aripuanã, and higher zinc prices. In the first half of 2024, adjusted EBITDA totaled US$ 323 million, up 58% from the prior year.

Net revenues climbed to US$ 736 million, up from US$ 580 million in 1Q24 and US$ 627 million in 2Q23, driven by higher LME metal prices and increased mining and smelting sales volumes. Free cash flow reached US$ 149 million, primarily due to the issuance of an ESG-Linked debenture worth approximately US$ 130 million.

Despite these gains, Nexa reported a net loss of US$ 69 million for 2Q24, compared to a loss of US$ 103 million in 2Q23, mainly due to accounting adjustments and increased exploration expenses. The company continues investing in safety, productivity, and sustainability, reporting sustained CAPEX investments of US$ 64 million, including initiatives at Aripuanã.