Prosegur Compañía de Seguridad (PSG) investor relations material

Executive summary

• Sales increased 1.5% year-over-year to €1,274M, driven by 7.8% organic growth and strong contributions from APAC, Spain, and the U.S., offset by negative currency effects.

• Net profit rose 15.2% year-over-year to €33M, supported by improved financial results, lower financial expenses, and a reduced effective tax rate.

• Security business outperformed with double-digit EBITDA growth and integration of cyber business, enhancing the product suite and creating synergies.

• Strategic priorities advanced in sustainability, innovation, and digital transformation, supported by improved ESG ratings and guided by the 2024-2027 Master Plan.

• Operating cash flow reached €8M, a 143% year-over-year increase, enabling a €28M net debt reduction.

Financial highlights

• Revenue grew 1.5% year-over-year to €1,274M, with organic growth at 7.8% and EBITDA at €140.9M, margin stable at 11.1%.

• Adjusted EBITA reached €87M, up 0.7% year-over-year, with margin at 6.8%.

• Net profit rose to €33M, up 15.2% year-over-year, aided by improved financial and tax management.

• Operating cash flow improved to €8.1M from negative €18.9M a year earlier, driven by working capital management.

• Net debt/EBITDA at 2.4x, with net debt at €1,224.7M as of March 31, 2026.

Outlook and guidance

• Continued deleveraging and strong cash generation expected through 2026, with leverage ratio projected to decline.

• Security organic growth expected to be slightly lower than Q1's 9.6% for the full year, but margin improvement trend to continue.

• Strategic focus on expanding Hybrid Security and AVOS businesses, with ongoing integration of technology and cybersecurity.

• Churn rate in alarms expected to normalize by year-end, with ROE at ~12% and MPA at 9–10%.

• Sustainability initiatives remain a priority, guided by the 2024-2027 Master Plan.