| Schedule of net financial results |
| Schedule of net financial results |
|
|
|
| |
2025 |
2024 |
2023 |
| Financial income |
|
|
|
| Monetary adjustments |
13,890 |
9,102 |
9,022 |
| Interest income on financial investments and cash equivalents |
11,825 |
11,853 |
11,622 |
| Interest on tax credits |
1,161 |
357 |
1,012 |
| Other financial income |
3,024 |
2,716 |
4,137 |
| Total
Financial income |
29,900 |
24,028 |
25,793 |
| |
|
|
|
| Financial expenses |
|
|
|
| Interest in loans and financings |
(133,310) |
(130,268) |
(110,734) |
| Interest on other liabilities |
(13,898) |
(6,152) |
(5,114) |
| Interest related to uncertain tax positions (ii) |
(55,134) |
(9,193) |
(4,365) |
| Interest on asset retirement and environmental obligations – note 27 (a) |
(26,587) |
(27,734) |
(26,969) |
| Interest on factoring operations and confirming payables |
(17,726) |
(16,391) |
(16,624) |
| Bond repurchase premium – note 24 (b) |
(15,046) |
(1,989) |
- |
| Interest on lease liabilities – note 23 (b) |
(9,989) |
(13,517) |
(6,134) |
| Interest on contractual obligations – note 29 |
(6,744) |
(6,424) |
(5,329) |
|
Transaction costs related to bond repurchase and early redemption
–
note 24 (b) |
(2,814) |
(5,080) |
- |
| Interest on VAT discussions |
(5,093) |
(1,203) |
(16,033) |
| Other financial expenses |
(20,155) |
(27,877) |
(22,171) |
| Total
Financial expenses |
(306,496) |
(245,828) |
(213,473) |
| |
|
|
|
| Other financial items, net |
|
|
|
| Changes in fair value of derivative financial instruments – note 16 (c) |
12,806 |
1,371 |
(606) |
| Changes in fair value of loans and financings – note 24 (c) |
2,052 |
(3,627) |
(525) |
| Debt modification gain |
- |
3,142 |
- |
| Foreign exchange (losses) gains (i) |
74,373 |
(148,546) |
21,753 |
| Total
Other financial items, net |
89,231 |
(147,660) |
20,622 |
| Net financial results |
(187,365) |
(369,460) |
(167,058) |
(i) The amounts for 2025 and prior years are mainly related
to exchange-rate variations on USD-denominated accounts receivable and payable between Nexa BR with NEXA, as well as on intercompany loans
between Nexa BR and its related parties, for which the exchange variation is not eliminated in consolidation, and on foreign-currency
denominated loans. These transactions were affected by the volatility of the Brazilian Real (“BRL”), which strengthened against
the USD during 2025, while depreciating during 2024.
(ii) As of December 31, 2025, interest related to uncertain
tax positions increased primarily due to changes in estimates under IFRIC 23 related to Cerro Lindo’s tax stability agreement.
|