Press Room
Prosegur records sales totalling €2.8 billion in 2011, 10% higher than in the previous year
In 2011, Prosegur entered in three new markets: Singapore, India and Germany.
Madrid, 29 February 2012 – Prosegur's FY2011 earnings confirm the Company's solid growth trend, with sales totalling €2,809 million, a 9.7% year-on-year increase.
Prosegur's EBIT (earnings before interest and taxes) totalled €284 million, an 8.2% rise compared with the previous year. And 2011 consolidated net profit was over €167 million, a 4.1% increase on 2010.
All of these figures evidence the success of the integrated security model which Prosegur is implementing, coupled with a commitment to a combination of organic and inorganic growth, which enables it to continue setting standards globally in the industry.
The commitment to international growth and human resources
The growth strategy and the profit from its international business have helped Prosegur boost its turnover. In Latin America, sales rose by 20.3% more than in 2010, to almost €1,518 million, while in Europe the company posted €1,290 million in revenue, a slight 0.6% decrease compared to the previous year. Latin American countries offset the economic situation in mature markets like Spain.
Against this backdrop, the Company has remained committed to achieving growth via acquisitions, in order to consolidate its leadership in the markets where it operates. In 2011 Prosegur conducted 12 acquisitions worth more than €125 million, and began offering its services in three new markets: Singapore, India and Germany.
In this connection, the Company has secured a syndicated credit facility for €200 million in order to continue implementing its inorganic growth policy. The facility, syndicated among seven Spanish and international financial institutions, has been coordinated by BNP Paribas and Barclays Bank. Along with these two banks, the other arrangers are Santander, BBVA, La Caixa, CitiBank and Bankinter.
The operation comprises two tranches: a loan totalling €100 million and a credit line worth €100 million, each with a three-year term. The credit will be repaid in a single instalment on maturity.
With regard to human resources, Prosegur, whose global workforce has increased by almost 20%, now employs more than 124,000 people worldwide. In Spain, where it has 28,000 professionals on the books, the Company has created more than 1,200 jobs, in line with its commitment to human capital. These figures evidence Prosegur's commitment to generating employment against a backdrop of economic crisis and rank the Company fourth in Spain in terms of employee numbers.
Sales by business line
Prosegur, which has three business lines (Guarding, CIT and Technology), implements a clearly-differentiated integrated services strategy based on its close relationship with customers, on excellence and on quality in its range of security services.
In 2011, Prosegur's Guarding business recorded a turnover of €1,357 million, implying a 6.3% year-on-year increase. This was due to the weighting of the Latin American business, where sales grew by almost 21.8% to €483 million. In contrast, revenue in Europe and Asia retreated slightly, down 0.7%.
The Cash in Transit business posted revenue of €1,098 million in the year, a 13.5% year-on-year increase. By geographical area, sales in Latin America were up 17% to €885 million. In Europe and Asia, sales remained practically stable, with a slight increase of 1%.
Lastly, Prosegur's revenue in Technology amounted to €353 million, an improvement of more than 11.6% on 2010. In Latin America, the Company recorded an increase of more than 37.2% to near €150 million, while in Europe, Prosegur obtained revenue of €203 million, a 1.8% setback compared to the previous year.