Prosegur Cash: LatAm depreciation to undermine the 1H18 results
Prosegur Cash: LatAm depreciation to undermine the 1H18 results
- Prosegur Cash will release its 1H18 results on Friday 27th July.
- Strong +9% organic growth eroded by –20% forex may lead to a –9% sales decline
- EBITDA margins to increase moderately
- The positives are growth and margins
Buy recommendation unchanged
Prosegur Cash SA, formerly Prosegur Cit Holding SA, is a Spain-based company engaged in the provision of security services. The Company's activities are divided into three business areas: Logistics, Cash management and Outsourcing. The Logistics division focuses on the provision of local and international transport services of cash and other valuable goods. The Cash management division offers counting, processing, custody, preparation and delivery of notes and coins, as well as replenishment of automatic teller machines (ATMs). The Outsourcing division includes a number of support financial services, such as automation of retail operations through self-service cash automatization machines (MAEs), ATMs management, as well as branch forecasting, reconciliation, settlement and credit card support services. The Company operates through own branches and joint ventures in Europe, Central and South America, Africa, Asia and Australia. It operates through Contesta Teleservicios SAU.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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