Brinks Company (the) · NYSE:BCO
Brinks Company (the) — Merger or Acquisition (February 2020)
14 slides from Brinks Company (the)'s merger presentation, Feb 26, 2020
Slide 1: Brink's to Acquire Majority of G4S Cash Operations
Exhibit 99.2 Brink’s to Acquire Majority of G4S Cash Operations February 26, 2020 NYSE: BCO
Slide 2: Safe Harbor Statement and Non-GAAP Results
Safe Harbor Statement and Non-GAAP Results These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project," "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking in
Slide 3: G4S Acquisition: An Excellent Strategic Fit
G4S Acquisition: An Excellent Strategic Fit Transaction Details Highlights • $860m purchase price • Expands Brink’s global cash management footprint: • Pro Forma financials1 • $800m revenue • 14 new markets; 17 in total • $85m operating profit • Broadens platform to execute: • $115m adjusted EBITDA
Slide 4: Key Financial and Operational Metrics
Key Financial and Operational Metrics Financials1 $800m $85m $115m Revenue Operating Profit Adj. EBITDA Operations1 17 3,300 Cash Management Vehicles Markets 8,600 31,000 Smart Safes ATMs & Recyclers 1. Pro Forma 2019 operational metrics and financial results. | 4
Slide 5: A Strong Platform for Accelerated Growth
A Strong Platform for Accelerated Growth1 Estonia Latvia Lithuania Netherlands Belgium Czech Republic Ireland Romania Kuwait Cyprus Dominican Republic Philippines Indonesia 3 Malaysia Brink’s Cash Operations G4S Cash Operations to be Acquired Accelerated Growth Expected from Strategy 1.0 & 2.0 Initi
Slide 6: Combined Financial Impact (Non-GAAP, $ Millions)
Combined Financial Impact (Non-GAAP, $ Millions) Brink’s1 G4S2 Synergies3 Combined Revenue $3,775 $800 $4,575 Adj. EBITDA $610 $115 $20 $745 % Margin 16.2% 14.4% 16.3% Pro-forma 2020 Revenue4 Pro-forma Fully Synergized 2020 Adj. EBITDA7%4 Synergies G4S 52% G4S 18% Brink’s 10% $4,575m Brink’s Argenti
Slide 7: Net Debt and Leverage (Non-GAAP, $ Millions)
Net Debt and Leverage (Non-GAAP, $ Millions) Net Debt Adjusted EBITDA and Financial Leverage Significant capacity for acquisitions Leverage Ratio1 1.4 2.4 2.4 ~2.9 Adjusted EBITDA ~ $2,150 G4S acquisition purchase ~ $745 price and related Fully- costs Synergized G4S ~ $610 Acquisition $1,349 $1,214
Slide 8: World's Largest Cash Management Company
World’s Largest Cash Management Company Brink’s includes full-year 2019 pro forma data for G4S acquisition Global Market Leader Revenue1 Countries1 Regions1 2020 Global cash market ~$20 billion1,2 NA,SA,EMEA, Asia Brink’s $4.5B 53 Pacific G4S Loomis $2.2B 20 EMEA, NA, SA Other Loomis SA, EMEA, Asia,
Slide 9: Appendix
Appendix
Slide 10: 2017-2019 Non-GAAP Results Reconciled to GAAP (1 of 2)
2017-2019 Non-GAAP Results Reconciled to GAAP (1 of 2) The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions) 2017 2018 2019 Revenues: GAAP $ 3,347.0 $ 3,488.9 $ 3,683.2 Venezuela operations(a) (154.1) (51.4) - Acquisitions and dispositions(a) - - 0.5 Internal loss (a) - - (4.0)
Slide 11: 2017-2019 Non-GAAP Results Reconciled to GAAP (2 of 2)
2017-2019 Non-GAAP Results Reconciled to GAAP (2 of 2) The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions) The outlook for 2020 Non-GAAP Adjusted EBITDA and 2020 Non-GAAP revenues cannot be reconciled to GAAP without unreasonable effort. We cannot reconcile this amount to GAA
Slide 12: Non-GAAP Reconciliation – Other (1 of 2)
Non-GAAP Reconciliation – Other (1 of 2) The Brink’s Company and subsidiaries Other Items Not Allocated to Segments (Unaudited) (In millions) Brink’s measures its segment results before income and expenses for corporate activities and for certain other items. See below for a summary of the other ite
Slide 13: Non-GAAP Reconciliation – Other (2 of 2)
Non-GAAP Reconciliation – Other (2 of 2) The Brink’s Company and subsidiaries Other Items Not Allocated to Segments (Unaudited) Argentina highly inflationary impact Beginning in the third quarter of 2018, we designated Argentina's economy as highly inflationary for accounting purposes. As a result,
Slide 14: Non-GAAP Reconciliation – Net Debt
Non-GAAP Reconciliation – Net Debt The Brink’s Company and subsidiaries Non-GAAP Reconciliations - Net Debt (Unaudited) (In millions) December 31, December 31, December 31, (In millions) 2017 2018 2019 Debt: Short-term borrowings $ 45.2 $ 28.9 $ 14.3 Long-term debt 1,191.5 1,525.1 1,629.3 Total Debt