Q4 2025 Nexa Resources SA Earnings Call Transcript
Key Points
- Nexa Resources SA (NEXA) reported strong fourth-quarter results with net revenues of $903 million and adjusted EBITDA of $300 million, showing significant improvement year-over-year.
- Zinc production reached 91,000 tonnes in the fourth quarter, marking a solid increase both quarter-over-quarter and year-over-year, driven by enhanced operational performance.
- The company achieved its full-year zinc production guidance of 316,000 tonnes, demonstrating effective operational execution.
- Net leverage improved to 1.7 times, reflecting a strengthened balance sheet and reduced financial risk.
- The Aripuana project achieved its highest production level to date, with plans to reach full operational capacity in the second half of 2026, enhancing long-term cash flow generation.
- Free cash flow for the full year was negative $105 million, impacted by debt reductions and dividends.
- The smelting segment faced challenges with lower production at Brazilian smelters and softer demand for zinc oxide, resulting in a lower EBITDA margin of 6% for the full year.
- Operational costs increased at Aripuana due to ramp-up activities, impacting the cost per tonne of run of mine.
- The company faced a sequential decline in smelting sales due to lower production and demand, affecting overall financial performance.
- The Cerro Pasco Integration Project Phase 2 lacks a specific start-up date, indicating potential delays in accessing high-grade reserves.
Good morning, ladies and gentlemen, and welcome to Nexa Resources' fourth quarter and full year 2025 earnings conference call. Please note that today's event is being recorded and broadcast live via Zoom with access also through Nexa's Investor Relations website. A slide presentation containing the webcast is available for download as well as a replay of the conference call following its conclusions.
(Operator Instructions) Writing questions that are not addressed during the call will be answered afterwards by the Investor Relations team. Questions from media outlets will be handled separately by our Corporate Affairs team.
Now I would like to turn the conference over to Mr. Rodrigo Cammarosano, Head of Investor Relations and Treasury for his opening remarks. Please go ahead.
Good day, everyone, and welcome to Nexa Resources' fourth quarter and full year 2025 earnings conference call. We appreciate your time and participation today. During the call, we will
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
