Q4 2024 Prosegur Cash SA Earnings Call Transcript
Key Points
- Prosegur Cash SA (XMAD:CASH) achieved a new milestone in sales, surpassing €2 billion, with a 12.3% increase over the previous year.
- Earnings per share grew impressively by over 40%, reaching $0.06 per share.
- The company generated €148 million in free cash flow, a 24% improvement over 2023, enabling a reduction in net debt.
- Transformation products accounted for 32.2% of total sales, growing by 18.8% to €673 million.
- Prosegur Cash SA (XMAD:CASH) improved its ESG ratings, with significant reductions in CO2 emissions and increased use of recycled materials.
- The company faced challenges such as a strike in Germany and restructuring in Australia, impacting profitability.
- Despite growth, the EBITDA margin improvement was modest, with a 20 basis points increase over 2023.
- Foreign exchange impacts, although reduced, still negatively affected sales by 6.2%.
- Margins in Latin America, while improving, remain below historical levels of 20-21%.
- The Forex business required significant investment, impacting short-term profitability, with expected returns in the coming years.
Good day and thank you for standing by. Welcome to the Prosegur Cash full year 2024 results presentation. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. [Operator Instructions]. Please be advised today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Miguel Bandres, head of IR. Please go ahead.
Good morning to everyone and thank you for joining today's call. I'd like to welcome you to our 2024 Q4 enhanced full year results presentation that will be led by our CEO José Antonio Lasanta Luri, our CFO Javier Hergueta and myself.
The presentation will take around 30 minutes in which we'll share the many events that have taken place in the period regarding our business and how they've influenced our performance.
We'll comment on our key financials, our geographical behavior and our transformation effort, as well as our ESG
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