Prosegur Cash earned 18 million euros during the first three months of the year, 25.2% more compared to the same period of the previous year, thanks to the reduction in financial costs.
Sales reached 470 million euros, which represents a decrease of 1.4% due mainly to the deconsolidation of Australia and the impact of the currency in Latin America, a region that represents 63% of total sales, according to the accounts sent by the cash management company to the National Securities Market Commission (CNMV).
For its part, the gross operating result (ebitda) totaled 50 million in the period, 16% less affected by the restructuring costs in the Australian business and those derived from new openings in the Forex business, as well as the devaluation of the Argentine currency, reports Eph.
By business, Transformation Products recorded sales of 149 million, 11.5% more, and concentratedl 31.7% of total sales of Prosegur Cash during the first three months of the year. Specifically, the penetration of these products exceeded 25% in all geographies thanks to the performance of Cash Today (the cash digitalization solution), Corban (the banking correspondent services) and the Forex business.
By markets, in the Ibero-American region sales reached 297 million euros, which represents 2.5% less due to the impact of the currency, although it grew by 7.8% in Processing Products, which increased their penetration to more than 33%.
As for Europe, lSales increased by 14.3%, up to 155 million, concentrating 33% of Prosegur Cash’s total business in the first quarter.
The company is experiencing organic growth of 11.3%, with Transformation Products now accounting for 34.1% of total sales. In this sense, Cash Today and Forex solutions have registered double-digit growth in Europe.
In addition, the Asia Pacific region reached sales of 18 million, 50.2% less, affected by the impact of deconsolidation in Australia, according to the accounts of the company dedicated to securities logistics and cash management, which uses to nearly 45,000 people in more than 31 countries.
