Q2 2024 Prosegur Cash SA Earnings Call Transcript
Key Points
- Sales have grown by a robust 5.1% in the quarter, with all geographies showing healthy organic growth.
- EBITDA margin improved by 120 basis points, now standing at 11.3% on a year-to-date basis.
- EPS has grown by over 5%, aided by lower financial expenses and an improved tax rate.
- Strong double-digit growth in both Cash Today and Forex business, with transformational products reaching 31.8% of total sales.
- Generated EUR 29 million in free cash flow, with a particularly strong second quarter contributing EUR 28 million.
- Negative currency effects continue to impact financial results, particularly in Latin America.
- Australia's restructuring costs are still affecting profitability, though expected to improve in the coming quarters.
- Net financial position increased due to the consolidation of the Indian business, impacting leverage.
- EBITDA margin, despite improvements, is still lower compared to the previous year.
- Sales in the Asia Pacific region decreased by 21% year-over-year, primarily due to the deconsolidation of Australia.
Good day, and thank you for standing by. Welcome to the Prosegur Cash Q2 2024 Results Presentation. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Miguel Bandrés, Head of IR. Please go ahead.
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Good morning to everyone, and thank you for joining today's call. I would like to welcome you to our 2024 Q2 results review that will be led by our CFO, Javier Hergueta, and myself. The presentation will last around 30 minutes in which we will show the main events that have taken place in the period and how they've driven our performance. We'll review our key financials, our geographical performance and our transformation effort, drilling down into our foreign exchange business. As well, we will update you on your latest ESG developments.
After we
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