Report
Juan Ros-Padilla ...
  • Luis de Toledo Heras

Prosegur Cash SA : Q4 operating performance broadly in line, softer cash evolution

>Softer headline sales growth on a tough comp, but organic pace remains solid - Revenues only increased by 4% y-o-y in Q4 (vs +37% in Q3 and +36% in Q2) to € 455m, 10% below our estimates and 5% below the consensus, with a negative forex impact (-1pp this quarter vs +3pp Q3) and very limited perimeter contribution (0.2pp). The comp was notably tougher than in Q3 (+19% Q4 2021 vs +6% Q3 2021). Organic growth, however, kept the solid pace seen in previous quarters reac...
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

Luis de Toledo Heras

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