Press Room
Prosegur turnover increases by 33% in the third quarter of 2012, reaching 2,701 million euros
EBIT amounted to €222 million, almost 13% year-on-year increase, with an 8 per cent operating margin on sales.
Madrid, October 31st 2012. – During the third quarter of the year, Prosegur turnover reached €2,701 million, a 33% increase in the same period of 2011. The Company, whose organic growth accounts for 11% of this increase in sales, continues to strengthen its leading position in the private security sector in each of the markets in which it is present.
EBIT (earnings before interest and taxes) amounted to €222 million, almost 13% year-on-year increase, with an 8 per cent operating margin on sales. On the other hand, the Company’s consolidated net profit during this period of the year reached €114 million, which implies a drop of 2% compared with 2011. This amount, in line with expectations, is due among other reasons to the exchange rate effect as well as expenses generated by the various acquisitions carried out by the Company.
Prosegur’s strategy is based in customer focus, quality and innovation, alongside a solid financial position. For this reason, one of the other aspects worth highlighting during this financial period is the almost 90% improvement in cash generation, which proves the consistency of the business model.
On the other hand, in line with Prosegur’s business development strategy in geographical areas in which it is not yet present, the Company has entered a joint venture agreement with the IDS holding company, present in Shanghai, Chengdu and Hangzhou and will start a learning period in order to provide surveillance services in China. IDS has a staff of 3,000 employees and in 2011 its turnover exceeded €18 million. Prosegur will make and investment of €10 million in the next two years.
By geographical area, sales in the Europe-Asia region totalled €1,106 million, a 15% increase in the same period the year before. In Spain, despite the difficult economic context, turnover is in line with that of the previous year, with sales of €703 million, as a result of a sector-specialised product offering and an excellent sales effort. On the other hand, Latin American earnings increased by almost 50%, reaching €1,595 million and confirming the importance of this market for the Company’s business.
Positive performance in the three lines of business
Prosegur has performed well in its three lines of business as a result of its integral security services and the important contribution of the Latin American and German markets.
The Surveillance division posted a turnover of €1,245 million, almost a 25% rise in the same period in 2011. Sales in Europe-Asia grew to €679 million, which represents an increase of around 4%. In Latin America sales soared by 65 per cent up to €566 million.
The Cash in Transit line reported turnover of €1,156 million in the period from January to September 2012, over 46 per cent more than in the previous year. The Europe-Asia business rocketed by almost 80%, with sales of €281 million, while in Latin America it grew by 38 per cent to €875 million.
As for Prosegur’s Technology business, it is worth noting that the Company posted earnings of €300 million, experiencing a 24% increase in 2011. With the growth in this area, which encompasses the development of integrated security and fire protection systems and a wide range of products for residential customers and for small and medium-sized businesses, Prosegur consolidated its support for this segment which completes its integrated solutions offering. By region, the turnover in Europe-Asia reached €145 million, whereas in Latin America, the Company obtained €155 million euros.
Prosegur, a responsible company
Prosegur is aware of the importance of its human workforce, made up of over 155,000 professionals, working together to meet the needs of customers. This quality of service enables Prosegur to continue growing and developing new solutions and services as a responsible company.
Prosegur’s Corporate Social Responsibility Policy aims to create sustainable value in the long term for its customers, employees, shareholders, suppliers and society at large. The Company, affiliated since 2002 to the United Nations Global Compact, is a member of the Executive Committee of the Spanish Global Compact Network. Prosegur also forms part of the IBEX FTSE4Good sustainability index, which enables responsible investors to identify and invest in those companies which meet global standards of corporate responsibility.