Nexa Resources S.A. Announces 2018 and 4Q18 Results
Nexa Resources S.A. (NYSE: NEXA) (TSX:NEXA) has published 2018 and 4Q18 Results in its website. For full details, please visit our Investor Relations webpage at: http://ir.nexaresources.com/resultscenter
CEO Message – Tito Martins
“2018 was a very dynamic year for Nexa and we are proud to have delivered what we promised to the market in the first full year following our IPO. Among our achievements, we met our production guidance for all metals, updated mineral reserves and resources with significant growth in reserves, and obtained approval for the construction of a new greenfield project, Aripuanã. On the financial front, we have renegotiated part of our debt to extend maturities at lower costs and returned capital to our shareholders by distributing an US$80 million share premium in addition to recently announcing a US$30 million share buyback program. Also, as a result of the robust operating cash generation in 2018, we are announcing a dividend payment of US$70 million on March 28, 2019.
While fundamentals remained strong, market confidence was impacted by the continuous trade war between China and the US, reflecting on LME prices. On the production side, we were able to deliver solid results, with a mining plan that was diligently executed along the year. Despite certain operating challenges in Cerro Lindo during mid-2018, we were able to recover production during the last quarter. We are also satisfied with our smelting segment’s strong performance as we were able to reach the top of our guidance range in terms of sales volume.
In our existing operations, we are confident that, during 2019, we will be able to reap the benefits from the mining development initiatives carried out during 2018 in Cerro Lindo to support higher production guidance range provided for 2019. We will also continue investing in exploration efforts to increase reserves and find new resources in order to extend the life-of-mine of our brownfield operations. In our greenfield pipeline, we are also excited to have started the construction of the Aripuanã project this year.
We maintain our focus on financial discipline and a solid capital structure, with low leverage, that will support current and future growth. Most important, Nexa is continuously embracing best practices in terms of environment, emissions, water, dams and safety standards while supporting the development of our local communities.”
About Nexa's Compliance with GDPR Nexa is adapting to the new General Data Protection Regulation (GDPR) in the European Union. Please check our Privacy Notice on the link below:
http://ir.nexaresources.com/privacypolicy
About Nexa Resources S.A. Nexa Resources S.A. is an integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America. The Company operates and owns five long-life underground mines, three located in the Central Andes of Peru and two located in the state of Minas Gerais in Brazil. For more details, please access:
http://ir.nexaresources.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190215005574/en/
Contact
Nexa Resources | Investor Relations
Leandro Cappa
E-mail: ir@nexaresources.com