Prosegur Cash SA : Q2 earnings in line
>Gradually recovering from Argentina’s devaluation - Revenues increased 5% y-o-y in Q2 (vs -1% in Q1, -20% in Q4 and -3% in Q3) to € 528m, broadly aligned with our estimates and the consensus, with a very negative forex impact (-41pp this quarter vs -49pp in Q1 and -60pp in Q4). This headline sales soft evolution is mainly due to the impact derived from the Argentine peso devaluation in late December 2023 and its translation to the accounts with IAS 29 hyperinflation...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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