Prosegur : Q3 2024 EBITDA broadly in line, earnings a touch below
>Sales momentum progressively recovering from Argentina’s devaluation - Group sales grew 5% y-o-y in Q3 (vs +9% in Q2, -5% in Q1 and -8% in Q4), reaching € 1.2bn, in line with our estimate and the consensus. Organic growth, albeit very positive (+23%), is deteriorating sequentially (+43% in Q2 and +45% in Q1) as the FX burden (and its price compensation) gradually fades away. (FX 19pp vs -35pp in Q2 and -38pp in Q1). Reported sales for the cash division grew +1% y-o...Prosegur, Compania de Seguridad and its subsidiaries are engaged in the provision of security guards and related services; fund transport and handling through a fleet of armored vehicles; alarm and electronic security systems; distribution and auxiliary services, including storage, logistics and distribution services; document transport and courier services; cleaning services and temporary employment. Co. is also engaged in security consulting and external training.
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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