Q4 2024 Prosegur Compania de Seguridad SA Earnings Call Transcript
Key Points
- Prosegur Compania De Seguridad SA (STU:PRHA) achieved an all-time high revenue of EUR4.9 billion, marking a 13.9% increase year over year, driven by organic growth across all geographic regions.
- EBITA increased by 17% to EUR328 million, with significant contributions from the Security and Cash businesses.
- The company generated strong cash flows, with operating cash flow reaching EUR313 million and free cash flow increasing by 16% year over year.
- Net debt-to-EBITDA ratio improved from 2.6 times in 2023 to 2.3 times, indicating effective debt management.
- Prosegur's Alarm business showed solid results, with a 48% increase in recurring cash flow, driven by increased service margins and customer base growth.
- The company faced challenges such as economic turmoil in Argentina and a labor strike in Germany, impacting operations.
- Hyperinflation accounting led to increased depreciation expenses and financial results, affecting reported profitability.
- Operating cash flow in the Security business decreased by 32% due to increased working capital requirements from higher sales.
- The depreciation of the Argentine peso and Brazilian real slightly reduced total sales in the Cash business.
- CIPHER business reported more negative EBITDA, indicating challenges in achieving profitability in this segment.
Good day, and thank you for standing by. Welcome to the Prosegur full-year 2024 results presentation. (Operator Instructions) Please be advised that today's conference is being recorded.
I'd like to hand the conference over to your first speaker today, Juan Ignacio Galleano. Please go ahead.
Good afternoon, and welcome to Prosegur full-year 2024 results presentation webcast. Before we start, I would like to remind you that this presentation has been prerecorded and that it will be available on our corporate website.
I will now hand you over to our CFO, Maite Rodriguez.
Good afternoon, and thank you all for your presence. We are once again proud of presenting very strong results, both from a financial and operational perspective. We proved to be highly resilient and efficient in overcoming certain headwinds, such as the political and
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