Report
Juan Ros-Padilla

Prosegur Cash SA : Q3 preview: soft headline momentum on FX and Australia’s deconsolidation

>Q3 preview: as reported numbers to appear weak on FX and the deconsolidation of the Australian unit - The company is due to publish its Q3 2023 results on 3 November before the market opens. We expect total sales to decline -3% y-o-y to € 517m (vs -1% in Q2 and +16% in Q1). The soft headline sales momentum is namely due an FX headwind (EURARS @ 370 in Q323 vs 144 in Q322) and the deconsolidation of its Australian business (as of September 2023) which will now be equi...
Underlying
Prosegur Cash SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Juan Ros-Padilla

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