Press Room
Prosegur turnover exceeds €1.3 billion in H1 2011
In accordance with the strategy of combining organic and inorganic growth to strengthen the leading position in those markets in which Prosegur is present, during Q2 Prosegur has successfully accomplished the acquisition of two companies, in Spain and Peru.
Madrid, July 28th, 2011 – Prosegur H1 results strengthen the Company’s solid growth trend. Despite the difficult situation of the Europe’s economy activity, the Prosegur turnover has exceeded €1.3 billion in H1 FY11, which means a 7.2 percent increase compared to that from H1, 2010. This comes as a result of its strategy of geographical diversification, the majority of the revenues come from it’s international business, particularly those from Latin America. In this region, revenues have increased up to €680.7 million, 16.2 per cent over those from last year’s same period.
As for the EBIT, Earnings before Interest and Taxes, it has been that of €127 million. The consolidated Net Profit of the Company in H1 amounted to €77.5 million, representing an increase of 12.1 percent over the same period from 2010.
The Company’s organic growth has reached 6.8 percent in H1 2011. Such growth confirms the success of the business model in Integrated Security Solutions implemented by Prosegur, allowing the Company to consolidate as a reference company in all markets where it operates with a clearly identified strategy -close proximity to the customer, excellence and quality in service, in addition to a sound financial position.
Regarding the Company’s inorganic growth, Prosegur has successfully accomplished two acquisitions during the second quarter; in Spain and Peru. Prosegur has acquired Spanish security company Seguridad Vigilada, which provides surveillance, bodyguard, guarding ATMs and other security auxiliary services and has a 400-people staff. In Peru, Prosegur has acquired Distribuidora Federal; a company specialized in the installation and maintenance of electronic security and fire prevention systems. This Peruvian company has over 100 employees.
With the main goal of securing a better knowledge of the Company’s business model and within its permanent search of excellence and innovation, Prosegur offers its clients an Integrated Security Solutions, which embraces three activities: Surveillance, Valuable Logistic and Cash Management and Electronic Security – Security Technical Solutions and Residential Alarms-. Due to this, Prosegur presents its results by product line since FY11.
Surveillance
During Q1 2011, Surveillance had a turnover of €646.5 million, representing an increase of four percent with respect to the same period from last year.
By regions, business in Europe has slowed down its drop, with a 0.4 per cent fall. In the other hand, revenues in Latin America have increased by 14.1 percent reaching up to €213.5 million.
Valuable Logistic and Cash Management
The area of VLCM reached sales of €509 million during H1 2011, 11.7 per cent more than last year’s same period.
By regions, business in Europe decrease by 1.6 percent while that from Latin America has increased by 15.6 percent exceeding the figure of €407.7 million.
Electronic Security
In Electronic Security, Prosegur earned more than €160 million, which means a 6.8 percent increase with respect to those from last year’s same period.
By regions, revenues in Europe exceeded €100 million with a 3.1 percent drop regarding the same figure from last year’s H1, and in Latin America business has increased by 28.9 per cent, up to €59.5 million.