Prosegur focuses its efforts on creating value for shareholders. Improving results, transparency, consistency and credibility guide the company's actions. Prosegur's shareholder and investor relations policy seeks to establish direct, personal and stable communications over time. The company keeps close ties with its shareholders, both private and institutional investors, and with the main stock market analysts, who are continuously furnished with in-depth information.
In-person meetings with investors
Meetings with analysts
Roadshows with investors
Visits to operating centres
Prosegur has a sound and stable shareholder structure. As of 31 December 2018, 66.43 percent of the company's shares were held by significant shareholders. The remaining 33.57 percent was floating capital.
The strong presence of shareholders on the Board allows the Directors to define the strategy and take decisions in keeping with the interests of all the shareholders. The sound and stable core of relevant shareholders, largely made up by significant shareholders and institutional investors, grants Prosegur the ideal conditions to develop its project and achieve its goals.
OF FLOATING CAPITAL
ANALYST COVERAGE AND
Of a total 19 analysts tracking the Prosegur share, just two of them (11 percent) make a negative appraisal and recommend selling. The rest of the analysts continue to have a positive view of the company, though slightly more conservative than in 2017, due to the negative currency effect.
Accordingly, eight analysts give a neutral recommendation (compared to six in 2017) and nine recommend buying (compared to eleven in 2017). Also, ten analysts continue to appraise the Prosegur share, setting a target price above six euros.
Fiscal year 2018 featured a strong devaluation of the main currencies in Latin America: the Brazilian real and especially the Argentine peso. The first quarter of the year kept up the good results from 2017, with the share price going from 6.64 euros at the start of the year to a historical high of 6.92 euros per share. However, starting in the second quarter the effect of Latin American currencies started to show on the company's share price. Starting in May, it started to slide due to the uncertainty regarding the elections in Brazil and Argentina's inability to pay its debts on the market.
The outcome of the situation became apparent in the latter half of the year, when a steady downward path ensued. At the time, a number of macroeconomic factors brought down the share value by nearly 50 percent. There were also strong hikes of inflation and interest rates in Argentina, which led ESMA and IPTF, two regulatory bodies, to declare Argentina as a hyper-inflationary country, making it mandatory to apply NIC 21 and IAS 29 when reporting the group's consolidated accounts.
Markets reacted to all the adverse news and outlook, and as a result at year-end 2018 the share price hit a low for the year of 4.21 euros, closing the year at 4.42 euros. However, towards the end of the year, once the elections had been held in Brazil and the FMI had intervened Argentina's accounts, an improvement of the Prosegur share price started to become apparent.