Spain · Delayed Price · Currency is EUR Prosegur Cash Earnings Call Transcripts
Fiscal Year 2025
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Organic growth exceeded 5%, but FX headwinds led to a 4.9% sales decline. EBITDA margin held at 12%, net profit rose 3.3%, and transformation solutions grew to 35.2% of revenue. 2026 outlook is positive, with recovery in Latin America and continued margin improvement.
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Sales declined 2.3% year-over-year due to currency headwinds, but organic growth was strong at 6.9%. EBITDA margin held at 11% (11.8% pro forma), net income rose 1.6%, and transformation products grew to 35.1% of sales. Net debt was reduced by €62 million.
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Net income rose 20% year-over-year, with strong organic growth and reduced net debt. Transformation products now make up 34% of sales, and Asia-Pacific saw revenue surge 60%. Despite currency headwinds, guidance remains positive for H2.
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Q1 2025 saw nearly 10% sales growth, with strong organic gains and margin expansion, especially in Asia-Pacific. Transformation products now make up a third of sales, free cash flow improved, and leverage declined, while the Euronet JV and Argentina's stabilization offer further upside.
Fiscal Year 2024
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Record sales and double-digit growth drove a 45% increase in net profit and EPS, with strong free cash flow supporting debt reduction and higher shareholder returns. Transformation products now account for over 32% of sales, and 2025 guidance points to continued growth and margin improvement.
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Sales grew 1.7% year-over-year with strong organic growth and transformation product penetration rising to 32.1%. Net profit increased 4.1%, free cash flow was robust, and net debt fell to EUR 898 million. Q4 and 2025 are expected to show further improvement.
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Q2 saw 5.1% sales growth, margin recovery, and strong free cash flow, with transformation products now 32% of sales. H2 is expected to deliver further margin gains, deleveraging, and strong regional performance, especially as Australia and India contribute positively.