Nexa Resources S.A. (NYSE:NEXA) Q4 2023 Earnings Conference Call February 22, 2024 9:00 AM ET

Company Participants

Rodrigo Cammarosano – Head-Investor Relations

Ignacio Rosado – Chief Executive Officer

Jose Carlos del Valle – Chief Financial Officer

Conference Call Participants

Camilla Barder – Bradesco

Operator

Good morning, and welcome to the Nexa Resources Fourth Quarter and Full Year 2023 Conference Call. All participants will be in listen-only mode. [Operator Instructions] This event is being recorded and is also being broadcast via webcast and may be accessed through Nexa’s Investor Relations website, where the presentation is also available. After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to Mr. Rodrigo Cammarosano, Head of Investor Relations, for opening remarks. Please go ahead.

Rodrigo Cammarosano

Good morning, everyone, and welcome to Nexa Resources fourth quarter and full year 2023 earnings conference call. Thanks for joining us today. During the call, we will be discussing the company’s performance as per the earnings release that we issued yesterday. We encourage you to follow along with this on-screen presentation through the webcast.

Before we begin, I would like to draw your attention to Slide number 2, as we will be making forward-looking statements about our business, and we just ask that you will refer to the disclaimer and the conditions surrounding those statements.

It is now my pleasure to introduce our speakers. Joining us today is our CEO, Ignacio Rosado; our CFO, Jose Carlos del Valle; and our Senior Vice President of Mining, Leonardo Coelho.

So now, I will turn the call over to Ignacio for his comments. Ignacio, please go ahead.

Ignacio Rosado

Thank you, Rodrigo, and good morning to everyone. Please let’s move now to Slide number 3, where we will begin our presentation. We appreciate you joining us today to discuss our fourth quarter and full year 2023 results, along with insights into our outlook for 2024.

I am pleased to report that we achieved our guidance for the year with metal production at the high end of guidance and total smelting sales at the midrange, while mining and smelting costs were in line with guidance. As many of you are aware, 2023 posed persistent challenges to our business, particularly due to zinc prices and the delay in the ramp-up of Aripuanã.

Nonetheless, I would like to highlight the dedication and professionalism of our team, which supported us in improving efficiency across our organization, which enabled us to deliver solid operational results and also to mitigate in part the negative impacts of lower zinc prices in our 2023 cash flow.