Q1 2025 Prosegur Compania de Seguridad SA Earnings Call Transcript
Key Points
- Prosegur Compania De Seguridad SA (FRA:PRHA) reported a strong first quarter with an 11.4% increase in top-line growth, driven entirely by organic growth.
- EBITDA increased by 43% year-over-year, reaching EUR86 million, attributed to strong performance in cash and security businesses.
- The company achieved a significant reduction in leverage, with net debt standing at 2.3 times relative to EBITDA, indicating improved financial health.
- The Alarm business showed robust growth with a 13.1% increase in the client base and improvements in key performance indicators such as churn rate and service margins.
- Prosegur Compania De Seguridad SA (FRA:PRHA) declared a dividend of EUR87 million, reflecting a nearly 5% increase from the previous year, demonstrating commitment to shareholder returns.
- Despite the positive results, free cash flow remained negative at EUR54 million, consistent with the previous year, highlighting ongoing cash flow challenges.
- The depreciation of the Brazilian real and Argentine peso led to an 8% reduction in sales when measured in euros, impacting overall revenue growth.
- The company's cybersecurity business, Cipher, reported negative EBITDA of EUR2 million, indicating ongoing challenges in this segment.
- The increase in accounts receivables, despite a reduction in DSO, suggests potential issues in cash collection processes.
- Prosegur Compania De Seguridad SA (FRA:PRHA) faces potential risks from macroeconomic instability in key markets like Argentina, which could impact future performance.
Good day, and thank you for standing by. Welcome to the Prosegur Q1 2025 results presentation. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Juan Ignacio Galleano, Head of IR. Please go ahead.
Good afternoon, and welcome to Prosegur first-quarter 2025 results presentation webcast. Before we start, I would like to remind you all that this presentation has been pre-recorded 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 delighted to present a strong first quarter, as it is naturally a very good indicator that we are on the right track to accomplish the objectives, both financial and operational, that we set for 2025.
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