Prosegur Compania de Seguridad : ´s net profit totalled €109 million during the third quarter of the year, a 2.5% increase

Madrid, 6th November 2014. - Prosegur has achieved a consolidated net profit of €109 million during the first three quarters of the year, which represents an increase of 2.5% on the same period last year. Operating profit before interest and tax (EBIT), amounts to €216 million improving by 34%, at constant exchange rate.

With regard to the Company´s turnover during the period, Prosegur´s revenues have increased to €2,776 million, representing an increase of 14% over 2013 in local currency. In the third quarter, organic growth has also increased by more than 10%.

This positive trend has been underpinned by the positive performance of margins and other operating developments in countries in which the company operates, which have mitigated the impact of the depreciation of Latin American currencies. In the following months, Prosegur´s strategy will continue to focus on the consolidation of organic growth and overall margin improvement.

By geographical area, in Europe and Asia-Pacific turnover has also increased by 9% over the same quarter of the previous year, to €1,178 million. This was driven, among others, by the business performance of Germany that recorded an increase of 33%. Spain and Portugal continue their positive trend and the drop in sales is slowing down to 2% in both countries, mainly due to their strong customer base and a business model based on integrated security solutions. The solid business performance in the Asia- Pacific market, where the company operates since 2011, is particularly noteworthy, with an organic growth of over 24%.

On the other hand, in Latin America turnover has increased by over 17% at constant exchange rates, reaching €1,599 million, despite the negative impact of the devaluation of the main currencies of the region. One the one hand, Prosegur in Brazil, with a recent acquisition in the region of Roraima, provides services throughout the whole of the national territory and records an organic revenue growth exceeding 7%. On the other hand, the area which includes Argentina, Paraguay and Uruguay also improves its organic sales with a 36% growth and is also amongst the best performers in the region.
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Solid financial structure
During the third quarter of the year, the Company has managed to reduce the overall cost of financing versus the same period of 2013, decreasing to 3.5% as a result of the debt optimization policies initiated in prior periods. Moreover, in the last twelve months, the conversion rate of net result into cash reached 180%.

In the forthcoming months, Prosegur will keep working to achieve optimum levels of cash flow generation, improve its liquidity and strengthen its financial structure to face up to future growth.

Results by business lines
The company, which has made a commitment to technology and innovation with the aim of providing more efficient solutions, currently offers a range of security services through three business lines: Manned Guarding, Cash Management and Technology, which includes integral security systems and fire protection systems, as well as residential and small business alarms.

During the first three quarters of the year, Prosegur has recorded a turnover of €1,260 million in Manned Guarding, reflecting a slight decrease of 1 per cent. By region, in Europe and Asia-Pacific revenues followed the trend of the previous quarter, down by 0.6 per cent, whereas in Latin America, due to the impact of currency devaluations, sales dropped by 1.2 per cent, to €631 million.

Cash Management has achieved a turnover of € 1,214 million, accounting for an increase exceeding 4 per cent over 2013. In Europe and Asia-Pacific, sales increased by more than 33 per cent, up to €382 million and in Latin America sales fell by 5.3 per cent to €833 million.

In the Technology business, revenues reached €302 million. By geographical area, Prosegur has increased its sales by more than 4 per cent in Europe and Asia-Pacific and has posted revenues of €167 million, whereas in Latin America, where the alarms business is experiencing a major growth, revenues amounted to €135 million.

Security Solutions with a technological component
Prosegur is committed to business development based on innovation in order to offer global security solutions tailored to the needs of its more than 390,000 customers in 17 countries. Because of the development of manned guarded services, the company follows a strategy that combines cutting-edge technology with the talent of top professionals. As a result, Prosegur has recently launched new services: mobile active guarding, integrated management of bank branches, biometric solutions or Prosegur Integra that combines and integrates all the company´s services to match the specific needs of each customer, in order to optimize each particular security solution.

Prosegur has also incorporated the online data storage SecureSafe to its global security Solutions, to meet the demand of digital security in households. This new solution guarantees confidentiality of information and ensures security and privacy of digital assets through strong encryption and highly secure login mechanisms. The service will be implemented next year under the Prosegur SecureSafe brand and shall be available as from next year via web and mobile applications downloadable from AppStore or PlayStore.

Additional information:

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