RESULTS PRESENTATION 9 Months 2017 1
Highlights of the trimester € 3, 3,18 184 M 8. 8.8% 8% T otal Sales Global Margin +11% Organic Sales Growth +20% EBIT Growth MARGIN IMPROVEMENT AND NOTABLE GROWTH Ver ery Good d Cash sh Flow ow +470, 0,000 000 Generat neration ion Combined with healthy Alarms installed Working Capital Needs 2
P&L In Million Euros Consolidated Results 9M 2016 (*) 9M 2017 (*) % Change Sustained incremental growth in all businesses. 3,184 SALES 2,844 +12.0% Net Consolidated Profit remains 316 374 EBITDA +18.5% stable despite the effect of minority MargIn 11.1% 11.8% interest derived from the Cash IPO Depreciation (67) (77) 297 EBITA 249 +19.3% Amortisation of intangible and Other (19) (19) 279 EBIT 231 +20.7% Margin 8.1% 8.8% Financial Result (37) (31) 247 194 Profit before Taxes +27.3% Margin 6.8% 7.8% (89) Taxes (68) Tax rate 34.8% 36.1% 24.7% 158 20.7% Net Profit 127 +24.7% 18.5% Minority interest - 34 12.0% 124 Net Consolidated Profit 127 (2.1%) EPS 0.2 0.2 Sales EBITDA EBIT Net Profit (Earnings per share ) (*) Figures excluding extraordinary non-recurring costs and taxes related to CASH IPO reported in Q1. RESULTS PRESENTATION 9M 2017 3
Consolidated Sales and Margin In Million Euros +12.0% 0.6% 3,184 0.3% 11.1% Strong sales growth with very little exchange rate effect Sales 2,844 Excellent profitability increase in both absolute and percentage terms 9M 2016 Org Inorg FX 9M 2017 +20.7% 279 231 EBIT 8.8% 8.1% 9M 2016 9M 2017 RESULTS PRESENTATION 9M 2017 Margin EBIT 4 EBIT
Sales and EBIT in Millions of € ARPU in € BTC in Thousands of connections Results by Business Line In Million Euros Sales EBIT & Margin +21.7% +16.5% 255 CASH 210 17.8% 17.0% 1,436 Maintains sales and 1,232 profitability growth 9M 2016 9M 2017 9M 2016 9M 2017 EBIT (*) & Margin Sales (*) +26.3% SECURITY +9.3% 48 38 Improves profitability despite LatAm macro 1,262 1,155 3.8% 3.3% challenges 9M 2016 9M 2017 9M 2016 9M 2017 ALARMS BTC & Churn ARPU Improves all business +11.6% +5.6% indicators and grows at 473 424 higher rates than in previous years 10.2% 10.0% 38 36 FY 2016 9M 2017 FY 2016 9M 2017 * Prosegur Security - Ex Brazil and ex-overhead costs RESULTS PRESENTATION 9M 2017 Prosegur CASH 2016 sales do not include Chile’s Courier activity (sold in Sept. 2016) 5
Sales by Region In Million Euros +8.8% All regions maintain the strong 1,231 1,131 sales growth seen in previous quarters 9M 2016 9M 2017 Europe Outperforming compound GDP growth of every country in which we +17.8% are present 121 103 9M 2016 9M 2017 Asia, Oceania and Africa +13.8% 1,832 1,610 9M 2016 9M 2017 LatAm RESULTS PRESENTATION 9M 2017 6
9M 2017 RESULTS ANALYSIS BY BUSINESS LINE 7
PROSEGUR CASH € 550B PURE PLAYER IN CASH IN TRANSIT PROCESSED ANNUALLY +100,000 INNOVATION ATM’S UNDER IN CASH MANAGEMENT LIFE-CYCLE MANAGEMENT Sales EBIT +16.5% +21.7% 0.6% 1,436 1.2% 255 14.7% 210 CASH 1,232 17.8% 17.0% 45% 9M 2016 Org Inorg FX 9M 2017 9M 2016 9M 2017 PROSEGUR Margin EBIT EBIT Total Sales RESULTS PRESENTATION 9M 2017 In Million Euros 8
PROSEGUR SECURITY +10,000 INTEGRATED SECURITY SOLUTIONS CAMERAS / YEAR 5,000 CORPORATE +7,000 CORPORATE PROJECTS /YEAR CLIENTS Sales (*) EBIT (*) +26.3% +9.3% SECURITY 11.0% 0.0% -1.7% 48 49% 1,262 38 1,155 3.8% 3.3% 9M 2016 Org Inorg FX 9M 2017 9M 2016 9M 2017 PROSEGUR Margin EBIT EBIT Total Sales RESULTS PRESENTATION 9M 2017 In Million Euros * Prosegur Security - Ex Brazil and ex-overhead costs 9
PROSEGUR SECURITY BRAZIL EBIT (*) & Margin Sales +4.9% +50.0% 301 287 -1.6% -5 -3.6% -10 9M 2016 9M 2017 9M 2016 9M 2017 RESULTS PRESENTATION 9M 2017 In Million Euros * EBIT ex-overheads 10
Sales in Million Euros PROSEGUR ALARMS ARPU in € BTC in Thousands of connections 6% ALARMS PROSEGUR Total sales + 470,000 CONNECTIONS Ventas BTC 11.6% + 10,000 18.4% GEOLOCATED VEHICLES AND DEVICES 1.1 % -2.3% 19.6% 473 424 389 186 PRESENT IN 10 COUNTRIES 355 157 9M Org Inorg FX 9M 2014 2015 2016 9M 2017 2016 2017 ARPU Churn Rate 5.6% 38.4 38.0 36.0 35.0 10.3% Ø 36.9 10.2% 10.2% 10.0% 2014 2015 2016 9M 2017 2014 2015 2016 9M 2017 RESULTS PRESENTATION 9M 2017 11
9M 2017 FINANCIAL INFORMATION 12
Consolidated Cash Flow In Million Euros 9M 2016 (*) 9M 2017 (*) EBITDA 316 374 Provisions and other non-cash items 45 33 Tax on profit (ordinary) (88) (106) (109) Changes in working capital (89) Interest payments (25) (31) Operating Cash Flow 159 161 (141) Acquisition of property, plant and equipment (100) Payments for acquisition of subsidiaries (59) (50) Dividend payment (49) (55) Other (19) 766 520 Cash flow from investment / financing (227) Total net cash flow (68) 682 (712) Initial net financial position (31/12/2015-16) (616) Net increase / (decrease) in cash (68) 682 (20) Exchange rate (16) (51) Final net financial position (30/09/2016-17) (700) (*) Figures excluding extraordinary non-recurring costs and taxes related to CASH IPO reported in Q1 RESULTS PRESENTATION 9M 2017 13
Total Net Debt • In relation to year-end 2016, Net Financial Debt has In Million Euros decreased by 661 Million Euros • Rating Confirmed by S&P in September 2017 (BBB, stable outlook) 36 30 712 700 33 27 22 51 17 13 -105 -116 -111 -108 -120 Sep. 2016 Dec. 2016 Mar. 2017 Jun. 2017 Sep. 2017 Deferred Payments Net Financial Debt Treasury Stock *Prosegur and Prosegur Cash Treasury Stock both at closing market price RESULTS PRESENTATION 9M 2017 14
Balance Sheet In Million Euros FY 2016 9M 2017 1,530 Non-current Assets 1,568 Tangible fixed assets 558 573 Intangible assets 785 763 194 Other 225 2,543 Current Assets 2,066 102 Inventory 87 Customer and other receivables 1,155 1,209 Cash and equivalents and other financial assets 825 1,232 TOTAL ASSETS 4,073 3,635 1,514 Net Equity 751 Share capital 37 37 Treasury Shares (53) (53) 1,436 Retained earnings and other reserves 767 Minority interest 1 95 1,040 Non-Current Liabilities 1,570 Bank borrowings and other financial liabilities 1,224 718 Other non-current liabilities 347 321 1,519 1,313 Current Liabilities 610 Bank borrowings and other financial liabilities 358 Trade payables and other current liabilities 955 909 4,073 TOTAL NET EQUITY AND LIABILITIES 3,635 RESULTS PRESENTATION 9M 2017 15
One year after the presentation of our change in strategy ONE GROUP – THREE BUSINESSES CASH SECURITY ALARMS • Creation of a “Pure Player” to lead • • Accelerate Growth to maximum, Focus on Technology Solutions maintaining indicators the consolidation • Continuous improvement of Margins • Recovery of Brazil • • Improvement in the valuation of the Expansion into new territories • Entry into the Cyber-Security Sum of the Parts market Increased Sales of BTC Evolution Technology Solutions 15% Traditional Manned Guarding 473 412 Technology Solutions 9% 424 14% 389 7% 9M 2016 9M 2017 FY 2014 1.937M FY 2015 FY 2016 In the first 7 months of trading, Prosegur 9M 2017 CASH stock has experienced a growth of 1.562M more than 30% RESULTS PRESENTATION 9M 2017 16
Closing Remarks The excellent growth rate seen during the first half of the year remains stable in organic terms Profitability continues improving in absolute and percentage terms Brazil’s economy speeds up the signs of recovery Alarms continues growing above market average ratio without deteriorating key indicators Financial parameters and cash flow within normal limits despite seasonality RESULTS PRESENTATION 9M 2017 17
DISCLAIMER This document has been prepared exclusively by The distribution of this document in other jurisdictions Prosegur for use as part of this presentation. may be prohibited; therefore, the recipients of this document or anybody accessing a copy of it must be The information contained in this document is warned of said restrictions and comply with them. provided by Prosegur solely for information purposes, in order to assist parties that may be interested in This document has been provided for informative undertaking a preliminary analysis of it; the purposes only and does not constitute, nor should it information it contains is limited and may be subject to be interpreted as an offer to sell, exchange or acquire additions or amendments without prior notice. or a request for proposal to purchase any shares in Prosegur. This document may contain projections or estimates concerning the future performance and results of Any decision to purchase or invest in shares must be Prosegur’s business. taken based on the information contained in the brochures filled out by Prosegur from time to time. These estimates derive from expectations and opinions of Prosegur and, therefore, are subject to and qualified by risks, uncertainties, changes in circumstances and other factors that may result in actual results differing significantly from forecasts or estimates. Prosegur assumes no liability nor obligation to update or review its estimates, forecasts, opinions or expectations. RESULTS PRESENTATION 9M 2017 18
Antonio de Cárcer Head of Investor Relations Tel: +34 91 589 83 29 antonio.decarcer@prosegur.com
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