Prosegur Cash (CASH) Q4 2024 earnings summary

Executive summary

• Achieved record sales exceeding EUR 2 billion, with 12.3% year-over-year growth and double-digit increases in both Q4 and full year.

• Earnings per share rose over 45% to EUR 0.06, and net profit increased 44.9% to EUR 91 million.

• Free cash flow reached EUR 148 million, up 24% from 2023, supporting a reduction in net debt and improved leverage.

• Transformation products now represent 32.2% of total sales, growing 18.8% year-over-year.

• ESG progress recognized by improved ratings from five agencies and a new sustainability master plan.

Financial highlights

• Revenue reached EUR 2.09 billion, up 12.3% year-over-year, with 18% organic growth and 0.5% inorganic growth.

• EBITDA totaled EUR 383 million (up 17.5%), with an EBITDA margin of 18.3% and EBIT of EUR 251 million (up 13.9%).

• Net profit climbed from EUR 63 million to EUR 91 million (+44.9%), with consolidated net profit at EUR 89 million (+41.5%).

• Free cash flow improved to EUR 148 million, with a conversion rate of 74%.

• Net debt reduced by EUR 12 million quarter-on-quarter, with a leverage ratio of 2.3x.

Outlook and guidance

• Sales growth for 2025 expected to be mid-single digits or slightly above, with continued margin improvement and strong EPS growth.

• Focus remains on free cash flow generation, debt reduction, and shareholder remuneration.

• Net profit for 2025 projected around EUR 110 million.

• Short-term leverage target is below 2x, with a mid-term goal of 1.5x.

• Dividend proposal of EUR 63 million and new EUR 8 million share buyback plan announced.