Nexa Resources SA said Feb. 15 that it swung to a fourth-quarter 2017 net profit of US$24.0 million, or 19 cents per share, from a loss of US$77.0 million, or 68 cents per share, in the comparable year-ago period.
Revenues for the period increased 27.4% year over year to US$736.7 million, while adjusted EBITDA jumped 712.9% to US$222.5 million, from US$27.4 million.
The revenue increase in the three-month period ended Dec. 31, 2017, was attributed primarily to higher than average zinc, copper and lead prices in the global market.
Zinc equivalent production for the period remained steady at 153,600 tons, from 153,400 tons in 2016, at a 29.4% less all-in sustaining cost of 34 cents per pound of zinc.
CapEx for the quarter was 2.2% lower on a yearly basis to US$66.9 million.
For full year 2017, the miner's net income jumped 49.5% to US$165.3 million, from US$110.5 million, as a result of higher revenues and lower provisions.
Revenues in the full year jumped 24.7% to US$2.45 billion, with adjusted EBITDA rising 65.3% to US$667.5 million.
Production during the year ended Dec. 31, 2017, dropped 7.1% to 570,300 tons, from 613,800 tons, on a zinc equivalent basis. AISC also dropped 11.3% to 37 cents per pound of zinc.
Full-year CapEx, meanwhile, increased 8.0% to US$197.6 million.
In a separate same-day statement, Nexa's board approved an aggregate US$80 million dividend, or about 60.0 cents per share.