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Shareholders’ equity | 12 Months Ended
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Dec. 31, 2024
Notes and other explanatory information [abstract] |
Shareholders’ equity |
| 30 | Shareholders’ equity
Accounting policy Common shares are classified in shareholders’ equity. Each time a share premium is paid to the Company for an issued share, the respective share premium is allocated to the share premium account. Each time the repayment of a share premium is decided, such repayment shall be done pro-rata to the existing shareholders. The distribution of dividends to the Company’s shareholders is recognized as a liability in the Company’s consolidated financial statements in the period in which the dividends are approved by the Company’s shareholders. Shares repurchased under buyback programs that are not cancelled, are reported as treasury shares and are deducted from shareholders’ equity. These shares are also deducted in the earnings per share calculation.
| (a) | Capital
As of December 31, 2024, the outstanding capital of USD 132,438 (2023: USD 132,438) is comprised of 132,438 thousand subscribed and issued common shares (2023: 132,438 thousand), with par value of USD 1.00 per share. In addition to the subscribed and issued common shares, NEXA also has an authorized, but unissued and unsubscribed share capital set at USD 231,925. (b) Treasury shares On June 4, 2020, at NEXA’s Extraordinary General Meeting (“EGM”), the Company’s shareholders approved the cancellation of the 881,902 shares held in treasury, purchased based on a share buyback program in prior years. For this reason, after the cancellation that occurred on June 4, 2020, VSA holds 64.68% of NEXA’s equity.
| (c) | Share premium
The share premium, if any, may be distributed to the shareholders in accordance with Luxembourg Commercial Companies Act by a resolution of the Board of Directors.
| (d) | Additional paid-in capital
Additional paid in capital arises from transactions recognized in equity that do not qualify as capital or share premium in accordance with Luxembourg Commercial Companies Act and, therefore, cannot be distributed to the shareholders of the Company. (e) Accumulated other comprehensive income The changes in the accumulated other comprehensive income are as follows:
Schedule of accumulated other comprehensive income |  |  |  |
| Cumulative translation adjustment | Hedge accounting | Changes in fair value of financial instruments | Total
At January 01, 2022 | (337,340) | 1,593 | (10,948) | (346,695)
Translation adjustment on foreign subsidiaries | 64,460 | - | - | 64,460
Cash flow hedge accounting, net of income tax | - | (331) | - | (331)
Changes in fair value of financial liabilities related to changes in the Company’s own credit risk | - | - | 343 | 343
Changes in fair value of investments in equity instruments | - | - | (3,608) | (3,608)
At December 31, 2022 | (272,880) | 1,262 | (14,213) | (285,831)
Translation adjustment on foreign subsidiaries | 81,413 | - | - | 81,413
Cash flow hedge accounting, net of income tax | - | (537) | - | (537)
Changes in fair value of financial liabilities related to changes in the Company’s own credit risk | - | - | (385) | (385)
Changes in fair value of investments in equity instruments | - | - | (1,466) | (1,466)
At December 31, 2023 | (191,467) | 725 | (16,064) | (206,806)
Translation adjustment on foreign subsidiaries | (184,446) | - | - | (184,446)
Cash flow hedge accounting, net of income tax | - | 109 | - | 109
Changes in fair value of financial liabilities related to changes in the Company’s own credit risk | - | - | (1,037) | (1,037)
Changes in fair value of investments in equity instruments | - | - | (1,256) | (1,256)
At December 31, 2024 | (375,913) | 834 | (18,357) | (393,436)
Attributable to NEXA's shareholders |  |  |  | (335,565)
Attributable to non-controlling interests |  |  |  | (57,871)
| (f) | Earnings per share
Basic earnings per share are computed by dividing the net income attributable to NEXA’s shareholders by the average number of outstanding shares for the year. Diluted earnings per share is computed in a similar way, but with the adjustment in the denominator when assuming the conversion of all shares that may be dilutive. The Company does not have any potentially dilutive shares and consequently the basic and diluted earnings per share are the same.
Schedule of earnings per share information |  |  |  |  |
| 2024 |  | 2023 |  | 2022
Net (loss) income for the year attributable to NEXA's shareholders | (205,030) |  | (291,968) |  | 49,695
Weighted average number of outstanding shares – in thousands | 132,439 |  | 132,439 |  | 132,439
Earnings (losses) per share - USD | (1.55) |  | (2.20) |  | 0.38
| (g) | Dividend distribution
On April 30, 2024, Pollarix's shareholders approved an additional dividend distribution to its shareholders for the 2023 fiscal year. Nexa BR will receive USD 3,018 (BRL 15,741 thousands) for its common shares, while the non-controlling interest, which holds preferred shares, will receive USD 11,654 (BRL 60,778 thousands). Pollarix has made a first payment on June 24, 2024, in the amount of USD 4,327 (BRL 22,567 thousands) and a second payment on September 27, 2024, in the amount of USD 6,891 (BRL 38,212 thousands). Both payments were made in cash to the non-controlling interest. On December 16, 2024, Pollarix’s Board of Directors approved an early distribution of dividends to its shareholders for the 2024 fiscal year. Nexa BR will be entitled to receive USD 1,239 (BRL 7,239 thousands) for common shares and the non-controlling interest will be entitled to receive USD 4,784 (BRL 27,951 thousands) for preferred shares. On December 17, 2024, Pollarix made a partial cash payment of these dividends to non-controlling interest, in the amount of USD 3,398 (BRL 19,857 thousands). On April 22, 2024, Enercan’s Board of Directors approved an additional dividend distribution to its shareholders related to the 2023 fiscal year, entitling the Company’s subsidiary Pollarix S.A. (“Pollarix”) to receive USD 23,319 (BRL 120,072 thousands). Pollarix received a first payment on May 24, 2024, in the amount of USD 9,683 (BRL 50,497 thousands), a second payment on August 22, 2024, in the amount of USD 6,475 (BRL 35,909 thousands), and a third payment on December 5, 2024, in the amount of USD 5,762 (BRL 33,665 thousands). All payments were made in cash from the outstanding amount of the dividend distribution. On December 23, 2024, Enercan’s Board of Directors approved an early distribution of dividends to its shareholders for the 2024 fiscal year, entitling the Company’s subsidiary Pollarix S.A. (“Pollarix”) to receive USD 3,265 (BRL 19,077 thousands). On December 23, 2024, Pollarix received the payment in the amount of USD 3,265 (BRL 19,077 thousands). Additionally, on March 27, 2024, Nexa Resources Peru S.A.A approved the distribution and payment of dividends in the amount of USD 5,549, related to the 2023 profits, Nexa CJM was entitled to receive USD 4,636 for its shares, while the non-controlling interest, and amount of USD 913. On July 12, 2024 Nexa Peru made a cash payment of these dividends to non-controlling interest, in the amount of USD 913.
| (h) | Non-controlling interests
Schedule of summarized financial information of the non-controlling interests |  |  |  |  |
Summarized balance sheet | NEXA PERU |  | Pollarix S.A.
2024 | 2023 |  | 2024 | 2023
Current assets | 840,727 | 581,466 |  | 21,597 | 12,283
Current liabilities | 381,329 | 292,067 |  | 8,169 | 11,734
Current net assets | 459,398 | 289,399 |  | 13,428 | 549
Non-current assets | 1,176,393 | 1,361,412 |  | 53,843 | 73,312
Non-current liabilities | 422,555 | 385,208 |  | 11,099 | 9,421
Non-current net assets | 753,838 | 976,204 |  | 42,744 | 63,891
Net assets | 1,213,236 | 1,265,603 |  | 56,172 | 64,440
Accumulated non-controlling interests | 205,102 | 207,966 |  | 42,569 | 46,747
Summarized income statement | NEXA PERU |  | Pollarix S.A.
2024 | 2023 |  | 2024 | 2023
Net revenues | 881,122 | 735,337 |  | 27,919 | 11,740
Net (loss) gain for the year | (41,999) | 12,491 |  | 28,959 | 13,700
Other comprehensive (loss) income | - | - |  | (14,886) | 5,606
Total comprehensive income for the year | (41,999) | 12,491 |  | 14,073 | 19,306
Comprehensive (loss) income attributable to non-controlling interests | (5,229) | (9,206) |  | 15,026 | 14,261
Dividends paid to non-controlling interests | 5,938 | 124 |  | 14,616 | 23,589
Summarized statement of cash flows | NEXA PERU |  | Pollarix S.A.
2024 | 2023 |  | 2024 | 2023
Net cash provided by (used in) operating activities | 253,005 | 206,163 |  | (11,615) | (5,189)
Net cash used in investing activities | (108,517) | (226,991) |  | 2,130 | 36,993
Net cash (used in) provided by financing activities | (23,800) | (3,604) |  | 13,783 | (32,185)
(Decrease) increase in cash and cash equivalents | 120,688 | (26,145) |  | 4,298 | (381)
On November 18, 2024, Nexa Atacocha’s General Shareholders Meeting approved a capital increase of up to USD 37,000 to finance the development of the Cerro Pasco Integration Project with the issuance of up to 2,182,866 thousands shares (1,203,513 class A and 979,353 class B thousands shares). On November 29, 2024, Nexa El Porvenir acquired a total of 35,917 thousand class A common shares of Nexa Atacocha (representing a 3.80% stake) at a purchase price of USD 0.0239 and USD 0.0084 respectively. The carrying value at the acquisition date was USD 12,629. As a result, the Company de-recognized the non-controlling interest, recording a decrease in equity attributable to owners of the controlling interest of USD 1,871. In December 2024, Nexa El Porvenir paid USD 31,174 for the acquisition of Atacocha’s 1,537,189 thousand shares (1,178,166 thousand class A common shares and 359,023 thousand class B common shares) representing 16.23% stake, at a purchase price of USD 0.0239 and USD 0.0084 respectively. As a result, the Company de-recognized the non-controlling interest, recording a decrease in equity attributable to owners of the controlling interest of USD 2,765. Consequently, as of December 31, 2024, the Company acquired a total of 1,573,107 thousand shares (representing a 20.03% stake) and recorded a total decrease in equity attributable to owners of the controlling interest for a total amount of USD 4,635 in the year 2024.

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