Prosegur increases consolidated net income by 32% to €17 million

- Prosegur's revenues reached €1.126 billion, up 5.2% on the same period last year, with organic growth of 45.3%.

- The Group starts the year with a strong performance, increasing its consolidated net profit in the first three months of 2024 to €17 million, an increase of 32%.

- Cash continues its growth in Transformation Products, making up 31% of total sales, while Prosegur Security increases its profitability by 24.3%.


Madrid, April 29, 2024. Prosegur, a global leader in the private security sector, has recorded a consolidated net profit of €17 million in the first three months of 2024, up 32% on the same period last year. The company reported revenues of €1.126 billion, an increase of 5.2%.

During the same period, Prosegur achieved extraordinary organic growth of 45.3%. Reflecting its operational profitability, EBITA was €60 million, an EBITA margin of 5.3%.

Net financial debt was €1.342 billion, with indebtedness remaining at a ratio of net financial debt to EBITDA of 2.8x. Prosegur is in a comfortable situation with an average corporate debt cost of 2.8%, and 70% of its debt at fixed rates.

The results for the first three months of 2024 reflect the Prosegur Group’s solid start to the year, with an increase in sales in all the regions where it operates.

During this period, the company has also achieved several ESG milestones: it is the first company in the private security sector to be classified as a "Diversity Leader 2024" by the Financial Times, highlighting its commitment and leadership in diversity and inclusion. In addition, Prosegur was recognized by Brand Finance as the only Spanish company among the 100 most valuable commercial services brands in the world.

As part of the Group's commitment to continuous improvement, a new ESG framework will be approved after this quarter, with objectives and initiatives adapted to the challenges the company will face during its new Strategic Plan 2024-2026.

Evolution of activities by business line:

Prosegur Cash

Prosegur Cash, the Group’s cash transportation and management subsidiary, recorded a net profit of €18 million in the first three months of 2024, up 25.2% for the same period of the previous year, due to the reduction in financial costs. Sales amounted to €470 million, down 1.4%, due to currency fluctuations in Latin America, a region that accounts for 63% of total sales. It was also affected by the deconsolidation of the Australian business.

Organic growth increased by 51.8%, with double-digit growth in all the regions where it operates. The good performance of Transformation Products should be highlighted, with sales of €149 million, an increase of 11.5%. This represents 31.7% of Prosegur Cash's total sales in the first three months of 2024. 

Prosegur Security

Prosegur Security, the monitoring and technology business, reported a 12.2% increase in sales over the same period last year, reaching €585 million. Thanks to a healthy increase in commercial output,  the company achieved exceptional organic growth of 36.9%.

The leading security division continued its positive trend in profitability, growing by 24.3%, with EBITA of €12 million and an EBITA margin of 2%, mainly due to the scalability of the business and optimal price pass-through.

Prosegur Alarms

The alarms activity as a whole, Prosegur Alarms and Movistar Prosegur Alarms, made 887,000 connections at the end of the first quarter of 2024. Specifically, it has increased by 8%, some 68,000 connections on the same quarter in 2023. As for the exclusive activity of Prosegur Alarms, its turnover increased by 6.4% to €49 million, with a spectacular organic growth of 107%.

Prosegur Tech: AVOS Tech and Cipher

AVOS Tech, a company dedicated to improving business processes through solutions developed at its own software factory, recorded sales of €19 million in the first three months of 2024. For its part, Cipher, the cybersecurity unit, recorded turnover of €3 million during this quarter.