Prosegur obtains a consolidated net profit of €47 million in the first quarter of 2015, an 18.4% increase

Madrid, 30th April 2015.- Prosegur has registered a consolidated net profit of €47 million in the first quarter of 2015, representing an increase of 18.4% over the same period last year.

The EBIT- earnings before interest and taxes- amounting to €83 million reaches an increase of almost 7%. With regard to Prosegur’s turnover during the period, the Company has reached €968 million which represents an increase of more than 9% compared to that of 2014.

With respect to geographical distribution of income, sales in Europe and Asia-Pacific have increased by 1.5% over that of the same period in the previous year, reaching €382 million, in line with the economy of the region. In the Asia-Pacific market in particular, Prosegur has continued to strengthen its activity with a growth of more than 17%.

On the other hand, in Latin America, the turnover in the first three months of the year has reached €586 million, representing an increase of more than 15%. With regard to the growth by country, the turnover of Brazil has slightly dropped by 1%. Sales in the area of Argentina, Paraguay and Uruguay have increased by more than 48% and Chile, with an increase of more than 14%, has also been one of the markets with a good performance.

Solid financial structure
Prosegur has managed to reduce its average cost of financing to 3.2%, a remarkable milestone, considering that it includes currencies with interest rates superior to that of the Euro. Total net debt, which has decreased by €55 million, stands at €556 million.

Furthermore, Prosegur has strengthened its cash generation capacity and continues the trend to optimize its debt structure. In addition, Standard & Poor’s (S&P) has maintained the investment grade credit rating for the Company as “BBB stable”.

Growth in the three business lines
Prosegur works with a permanent focus on innovation, in order to provide its customers, specialized security solutions tailored to the specific needs of their areas of activity.In order to do so, the Company currently has three business lines: Integrated Security Solutions (SIS) comprising Manned Guarding and Technology services, Cash Management and Alarms.

During the period, Integrated Security Solutions turnover has reached €480 million with an increase of 7.2% over the same period the year before. By regions, in Europe and Asia-Pacific sales are in line with the first quarter of last year at €228 million. In Latin America the Company’s turnover has totalled €251 million, which represents an increase of 14.5%.

With regard to the Cash Management area, sales reached €437 million, increasing by more than 11% over the same period of 2014. In Europe and Asia-Pacific sales have increased by 3%, totalling €127 million, mainly due to business in Germany and Australia, countries in which Prosegur is a reference company in the industry. In Latin America sales reached €310 million, representing an increase of 14.6%.

With regard to the Alarms business, to which Prosegur is giving a strong force, sales reached €52 million, growing by 17.4% over the same period of 2014. In Europe, Prosegur has totalled €26 million, increasing by almost 7%, while in Latin America sales reached €25 million, growing by almost 31% compared to 2014.

Alarm solutions are increasingly demanded by emerging economies, in particular by the growing middle classes in search of better protection for their companies and homes. The Company’s commitment to this activity has materialized this past year resulting in alarms contracts increasing by 20% at global level.

Annual Report in accordance with the Global Reporting Initiative (GRI)
Prosegur understands that a responsible management must be a focal part of a company’s corporate culture. Therefore, the Company is committed towards its different stakeholders; employees, customers, shareholders and society at large. In this respect, the Company has presented its 2014 Annual Report which describes its economic, environmental and social performance of the past twelve months.

This document follows the G4 Sustainability Reporting Guidelines defined by the Global Reporting Initiative (GRI), an independent, international entity whose purpose is to promote sustainability efforts in organizations. The Annual Report has been drawn up in accordance with the GRI “exhaustive” option, representing the highest adhesion level. Furthermore, the IIRC Framework (International Integrated Report Council) has been taken as reference for drawing up the integrated Annual Reports. 

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