Slide 1: Second-Quarter 2023 Earnings
Second-Quarter 2023 Earnings August 9, 2023 Exhibit 99.2
Slide 2: Forward-looking information
2 These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project," “model”, "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking infor
Slide 3: Key Messages
3 Key Messages (non-GAAP)Results summary • Revenue up 7% (+8% organic) ‒ Organic growth of 5% in Cash and Valuables Management ‒ Organic growth of 19% in ATM Managed Services (AMS) and Digital Retail Solutions (DRS) • Operating profit +6% to $132M (+13% organic), margin 10.8% • Adjusted EBITDA +4% t
Slide 4: AMS/DRS Delivering Growth and Margin Improvement
4 AMS/DRS Delivering Growth and Margin Improvement • Strong organic growth of 5% • Strong price/cost discipline • Improvements in productivity leveraging Brink’s Business System • Improved labor turnover in North America Cash & Valuables Management • June had more contract closings in U.S. than any
Slide 5: Second-Quarter 2023 Results Margins Impacted by Timing of Loss
5 Second-Quarter 2023 Results Margins Impacted by Timing of Loss (non-GAAP, $ millions, except EPS) Revenue +7% Organic +8% Acq +3% FX (4%) EPS (12%)Adj. EBITDA +4%Op Profit +6% Organic +13% Acq +5% FX (12%) $1,049 $1,134 $1,216 2021 2022 2023 Constant Currency +11% Constant Currency +18% Constant C
Slide 6: Second-Quarter Revenue and Operating Profit vs 2022
6 $124 $28 ( $12 ) $7 $146 ( $14 ) $132 2022 Op Profit Organic Excl. Loss Impact Security Loss Impact Acq / Disp* 2023 Constant Currency Op Profit FX 2023 Op Profit Second-Quarter Revenue and Operating Profit vs 2022 (non-GAAP, $ millions) Revenue Operating Profit $1,134 $52 $34 $37 $1,256 ( $40 ) $
Slide 7: Second-Quarter Adjusted EBITDA and EPS vs 2022
7 Second-Quarter Adjusted EBITDA and EPS vs 2022 (non-GAAP, $ millions, except EPS) $132 ( $51 ) ( $25 ) $0 $56 $54 $51 $25 $9 $194 Op Profit Interest Expense Taxes Other Income from Continuing Ops D&A Interest Expense Taxes Stock Comp & Other Adj. EBITDA 47.3 million 47.8 million Vs. 2022 $8 ( $19
Slide 8: Six-Months 2023 Highlights and Capital Allocation Priorities
8 Six-Months 2023 Highlights • Delivered $115M of the $147M FY FCF improvement target1 • Strong working capital improvement • DSO improvement across the business…including A/R progress in Mexico following last year’s regulatory change to invoicing requirements Capital Allocation Priorities Note: Cap
Slide 9: 2023 Guidance
9 2023 Guidance (non-GAAP, $ millions, except EPS) Notes: See detailed reconciliations of non-GAAP to GAAP 2022 results in the Appendix and included in the Second Quarter 2023 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. The 2023 Non-GAAP outlook
Slide 10: Appendix
Appendix
Slide 11: Brink's Sustainability Report Recently Released
11 Brink’s Sustainability Report Recently Released URL: https://us.brinks.com/documents/20128/769081/Sustainability+Report_7.31.23_615pm+ET.pdf/4ca3a432-ef19-8d66-22f9-652d89bbe239?t=1690891396840
Slide 12: Our Strategic Pillars
Our Strategic Pillars GROWING BRINK’S BY PROVIDING A SUPERIOR CUSTOMER EXPERIENCE AND DRIVING CONTINUOUS IMPROVEMENT OUR STRATEGIC PILLARS e e GROWTH & OPERATIONAL CUSTOMER LOYALTY INNOVATION EXCELLENCE TALENT Put customers. Find new ways to Run the business Position our first create value better te
Slide 13: Six-Months 2023 Results
13 Six-Months 2023 Results (non-GAAP, $ millions, except EPS) Revenue +9% Organic +10% Acq +3% FX (5%) EPS (7%)Adj. EBITDA +9%Op Profit +10% Organic +17% Acq +4% FX (11%) $2,027 $2,208 $2,402 2021 2022 2023 Constant Currency +13% Constant Currency +21% Constant Currency +17% Constant Currency +9% $3
Slide 14: Six-Months Revenue and Operating Profit vs 2022
14 $236 $40 $10 $286 ( $26 ) $259 2022 Op Profit Organic Acq / Disp* 2023 Constant Currency Op Profit FX 2023 Op Profit Six-Months Revenue and Operating Profit vs 2022 (non-GAAP, $ millions) Revenue Operating Profit $2,208 $138 $83 $73 $2,501 ( $100 ) $2,402 2022 Revenue Organic Cash & Valuables Mgm
Slide 15: Six-Months 2023 Results by Segment
15 Six-Months 2023 Results by Segment ($ millions) Note: Constant currency represents 2023 results at 2022 exchange rates. $770 $799 2022 2023 $59 $76 2022 2023 7.6% Margin 9.5% Margin $598 $649 2022 2023 $128 $133 2022 2023 21.4% Margin 20.4% Margin $391 $398 2022 2023 $73 $79 2022 2023 18.6% Margi
Slide 16: Second-Quarter 2023 Results by Segment
16 Second-Quarter 2023 Results by Segment ($ millions) Note: Constant currency represents 2023 results at 2022 exchange rates. $402 $397 2022 2023 $34 $38 2022 2023 8.5% Margin 9.4% Margin $306 $334 2022 2023 $65 $66 2022 2023 21.1% Margin 19.7% Margin $199 $199 2022 2023 $40 $41 2022 2023 19.8% Mar
Slide 17: Net Debt and Leverage
17 $788 $821 $815 3 $830 3 2022 Actual Q2 2023 TTM Actual Net Debt and Leverage Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix and included in the Second Quarter 2023 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. 1.
Slide 18: 2021 Non-GAAP Results Reconciled to GAAP (1 of 3)
18 2021 Non-GAAP Results Reconciled to GAAP (1 of 3) See slide 20 f or f ootnote explanations. The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions) Q2 Six Months Revenues: GAAP 1,048.8$ 2,026.5 Non-GAAP 1,048.8$ 2,026.5 Operating profit (loss): GAAP 73.3$ 135.0 Reorganization
Slide 19: 2021 Non-GAAP Results Reconciled to GAAP (2 of 3)
19 2021 Non-GAAP Results Reconciled to GAAP (2 of 3) Amounts may not add due to rounding. See slide 20 f or f ootnote explanations. The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions, except for per share amounts) Q2 Six Months Income (loss) from continuing operations attribu
Slide 20: 2021 Non-GAAP Results Reconciled to GAAP (3 of 3)
20 2021 Non-GAAP Results Reconciled to GAAP (3 of 3) The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions) The 2023 Non-GAAP outlook amounts exclude certain forecasted Non-GAAP adjusting items, such as intangible asset amortization, U.S. retirement plan costs and approved restr
Slide 21: Non-GAAP Reconciliation – Other
21 Non-GAAP Reconciliation – Other 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 items not
Slide 22: Non-GAAP Reconciliation – Net Debt
22 Non-GAAP Reconciliation – Net Debt The Brink’s Company and subsidiaries Non-GAAP Reconciliations - Net Debt (Unaudited) (In millions) a) Title to cash received and processed in certain of our secure Cash Management Services operations transfers to us for a short period of time. The cash is genera