Nexa Resources S.A. (NYSE:NEXA) Q2 2024 Earnings Conference Call August 2, 2024 9:00 AM ET

Company Participants

Rodrigo Cammarosano - Head, IR
Ignacio Rosado - CEO
Jose Carlos del Valle - CFO

Conference Call Participants

Lawson Winder - Bank of America
Carlos de Alba - Morgan Stanley
Camilla Border - Bradesco BBI
Orest Wowkodaw - Scotiabank

Operator

Good morning, and welcome to Nexa Resources Second Quarter 2024 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] This event is being recorded and is also being broadcast via webcast and maybe 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 second quarter 2024 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, where we will be making forward-looking statements about our business and we ask you to 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 Operations, 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. Thanks for joining us today to go over our second quarter results of 2024. Please let's move to Slide number 3, where we will begin our presentation with the main highlights of the quarter. Let me start by saying that we had a strong second quarter results. We have been witnessing positive momentum from commodity prices from the end of the first quarter, which has been sustained throughout the second quarter.

Our solid operational performance and financial results reflect our commitment to our strategy and our focus on executing our priorities, as well as our efforts to optimize key investments and initiatives. In the second quarter of 2024, consolidated net revenues were $736 million, up 27% quarter-over-quarter, mainly due to higher LME prices and increased smelting sales volume. Year-over-year, net revenues were up by 17%.