Press Room
2020/07/31
Prosegur reported a consolidated net profit of €23 million in the first half of 2020
Revenue came to 1,775 million euros, excluding extraordinary results for the year, with organic growth in sales of more than 3%. However, the biggest decrease can be traced to the negative effect of the exchange rate, placing turnover down by 13.6%. In terms of profitability, Prosegur has reported an EBITA of 106 million euros, 33.3% down both on account of the effect of COVID-19 and an adverse exchange rate. The protective measures implemented have demonstrated a positive evolution when it comes to cash generation. The cash control measures have temporarily improved working capital and the company has also achieved a reduction in spending on Capex of about 33% during the period.
