Prosegur Cash SA : Q3 operating results in line
>Organic pace accelerates but so does the FX deterioration - Revenues decreased by 3% y-o-y in Q3 (vs +6% in Q2 2023 and +16% in Q1 2023) to € 518m, in line with our estimate and the consensus, with very negative FX (-54pp this quarter vs -35pp in Q2 2023 and -19pp in Q1 2023). The comp was harder than in the previous quarters as Q2-Q3 2022 saw a return to normality after the Omicron outbreak. Organic growth accelerated the solid pace seen in previous quarters, reachi...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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