Nexa Resources S.A.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
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Sep 30, 2026 · Filed Oct 29, 2026
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Contents
EX-99.1 · Appendix
Appendix
Income Statement
| US$ million | 3Q26 | 2Q26 | 3Q25 | 9M26 | 9M25 |
|---|---|---|---|---|---|
| Net Revenues | 937.1 | 907.9 | 763.5 | 2,733.4 | 2,099.1 |
| Cost of sales | (692.6) | (650.8) | (609.6) | (1,959.6) | (1,686.0) |
| Gross Profit | 244.5 | 257.2 | 154.0 | 773.8 | 413.1 |
| SG&A | (44.7) | (43.0) | (37.5) | (128.2) | (105.3) |
| Mineral Exploration and Project Evaluation | (21.9) | (17.8) | (22.1) | (55.8) | (55.1) |
| Impairment reversal (loss) of long-lived assets | (124.0) | (0.5) | 106.5 | (123.1) | 104.2 |
| Other income and expenses, net | (34.3) | (20.5) | (23.0) | (63.4) | (65.1) |
| Operating income | 19.7 | 175.3 | 177.9 | 403.2 | 291.8 |
| Share in the results of associates | 6.6 | 6.2 | 5.8 | 18.9 | 15.1 |
| Net Financial Results | (55.0) | (7.8) | (45.5) | (73.2) | (74.0) |
| Financial income | 6.1 | 5.7 | 7.0 | 16.1 | 17.1 |
| Financial expenses | (65.4) | (55.2) | (62.1) | (174.1) | (186.2) |
| Other financial items, net | 4.2 | 41.7 | 9.6 | 84.9 | 95.1 |
| Depreciation and amortization | (89.8) | (86.3) | (81.5) | (253.5) | (223.9) |
| Adjusted EBITDA | 300.8 | 285.9 | 186.1 | 869.4 | 471.9 |
| Adj. EBITDA margin | 32.1% | 31.5% | 24.4% | 31.8% | 22.5% |
| Income tax expense | (18.6) | (75.8) | (38.0) | (180.4) | (90.7) |
| Net Income | (47.3) | 97.9 | 100.1 | 168.6 | 142.2 |
| Attributable to Nexa's shareholders | (62.7) | 68.6 | 69.3 | 95.2 | 82.3 |
| Attributable to non-controlling interests | 15.4 | 29.3 | 30.8 | 73.4 | 59.9 |
| Weighted average number of outstanding shares – in thousand | 132,439 | 132,439 | 132,439 | 132,439 | 132,439 |
| Basic and diluted earnings per share – (in US$) | (0.47) | 0.52 | 0.52 | 0.72 | 0.62 |
| Adjusted Net Income | 144.0 | 122.1 | 26.8 | 381.3 | 98.4 |
| Adjusted basic and diluted earnings per share – (in US$) | 0.87 | 0.64 | (0.03) | 2.18 | 0.25 |
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Table of Contents
Consolidated statement of cash flows – Reconciliation
Nexa manages and reports Operating cash flow before working capital variations. Working capital can be volatile due to several factors, including prices and a build-up or reduction of inventories. Management believes this measure provides investors with better visibility of the operating cash flow performance and our capital allocation strategy.
| US$ million | 3Q26 | 2Q26 | 3Q25 | 9M26 | 9M25 |
|---|---|---|---|---|---|
| Operating cash flow before working capital variations | 306.2 | 286.3 | 204.4 | 900.5 | 544.6 |
| Working capital variations | (57.7) | (82.5) | 11.6 | (422.9) | (258.9) |
| Decrease (increase) in assets | |||||
| Trade accounts receivables | (41.6) | 63.7 | (29.9) | (7.9) | (51.3) |
| Inventory | (84.6) | (46.7) | (29.6) | (145.9) | (70.6) |
| Other financial instruments | (3.5) | (1.0) | 2.0 | (3.4) | 5.4 |
| Other assets | (57.7) | (79.2) | (4.0) | (137.9) | (90.8) |
| Increase (decrease) in liabilities | |||||
| Trade payables | 47.5 | 54.6 | 31.6 | 4.0 | (34.5) |
| Confirming payables | 55.1 | (36.5) | 57.9 | (52.5) | 35.9 |
| Other liabilities | 27.2 | (37.5) | (16.4) | (79.1) | (53.1) |
| Cash provided by operating activities | 248.6 | 203.8 | 215.9 | 477.6 | 285.7 |
| Interest paid (1) | (22.2) | (48.9) | (26.3) | (93.6) | (100.7) |
| Premium paid on bonds repurchase | - | - | - | - | (15.0) |
| Income tax paid | (41.2) | (43.9) | (22.1) | (143.5) | (85.8) |
| Net cash provided by operating activities | 185.1 | 110.9 | 167.5 | 240.5 | 84.1 |
| Capital Expenditures ("CapEx") (2) | (111.9) | (91.9) | (90.6) | (275.6) | (228.6) |
| Dividends paid/received (Net) (3) | (23.4) | (4.2) | (9.5) | (53.0) | (26.0) |
| New loans and debt repayment (4) | (24.9) | (22.5) | (16.3) | (26.3) | 2.2 |
| Foreign exchange effects | 0.2 | (2.7) | 1.5 | 3.1 | 8.7 |
| Other items (5) | (0.4) | 0.1 | (0.2) | (0.1) | 4.2 |
| Free Cash Flow (6) | 73.2 | 19.0 | 76.9 | (35.1) | (144.4) |
| Increase (Decrease) in cash and cash equivalents | 24.8 | (10.3) | 52.4 | (111.4) | (155.8) |
| Cash and cash equivalents at the beginning of the period | 379.7 | 390.1 | 412.3 | 515.9 | 620.5 |
| Cash and cash equivalents at the end of the period | 404.5 | 379.7 | 464.7 | 404.5 | 464.7 |
Note: For further details please refer to “Consolidated statement of cash flows” in the Financial Statements.
(1) Includes: Interest paid on loans and financings; and Interest paid on lease liabilities.
(2) Includes: Additions of property, plant and equipment; and Additions of intangible assets. Refer to the “Capital Expenditures (“CapEx”)” section of this earnings release for CapEx breakdown. CapEx recorded under investing activities in our condensed consolidated interim financial statements is presented on a cash basis, while the amount presented in the "Capital Expenditures (CapEx)" section of this earnings release is reported on an accrual basis.
(3) Includes: Dividends received; Dividends paid; Payments of share premium; and Dividends not withdrawn.
(4) Includes: Net sales (purchases) of financial investments; New loans and financings; Debt issue costs; Payments of loans and financings; Payments of lease liabilities; Payments of fair value debt; Bonds Repurchase; and Other high liquid short term investments.
(5) Includes: Subsidiary acquisition cash effects, net; Proceeds from the sale of property, plant and equipment; Proceeds from the sale of divestments and restructuring; Investments in equity instruments; Acquisition of additional shares in associates; Repurchase of the Company's own shares; Acquisition of non-controlling interests; Effects of transactions with non-controlling interest in subsidiary; Purchase of non-controlling interest shares; Purchase of stake in subsidiary from non-controlling shareholders; Contribution of non-controlling interest capital; and Capital contribution of non-controlling interest to subsidiary.
(6) Free cash flow is defined as Net cash provided by operating activities minus CapEx (“Additions of property, plant and equipment” and “Additions of intangible assets”).
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