Slide 1: Investor Overview September 2016
Investor Overview NYSE: BCO September 2016
Slide 2: Forward Looking Statements
Forward Looking Statements 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 information. Forwa
Slide 3: Why Brink's?
Why Brink’s? Premier Global Brand Symbol of security, service, trust Global footprint: #1 or #2 in key markets New Leadership Track record of value creation Focused on increasing EBITDA and trading multiple Instilling sense of urgency throughout company Value Creation Opportunities Organic growth in
Slide 4: New Leadership…New Focus
Track record of value creation in global businesses Experience in route-based logistics businesses serving financial institutions Leveraging IT to drive internal productivity and expand customer offerings Leading the turnaround efforts in the U.S. Pursuing growth through acquisitions New Leadership…
Slide 5: Vision, Mission & Strategy
Vision, Mission & Strategy “We will create value by leveraging our brand, enhancing the customer experience, and aggressively pursuing growth opportunities.” Doug Pertz – CEO VISION To be the world’s premier provider of cash management, secure logistics and payment services. MISSION Exceed expectati
Slide 6: Brink's at a Glance
Brink’s at a Glance Operations in 41 Countries 2015 non-GAAP EPS $1.69 2015 Adjusted EBITDA $291M Notes: See reconciliation to GAAP results in Appendix. As of 12/31/2015 (see form 10-K for all information excluding Adjusted EBITDA) 2015 Revenue $3.0B (75% International) Customers in over 100 Countri
Slide 7: Lines of Business
Lines of Business Core Services 53% $1.6B High Value Services 39% $1.2B Guarding 8% $.2B 2015 Non-GAAP Revenue $3.0B High-Value Services • Brink’s Global Services (BGS) • Money processing • CompuSafe® Service • Payments • Cash-in-transit (CIT) • ATM services Core Services 75% of Revenue Outside of U
Slide 8: High-Value Services…A Key Growth Driver
High-Value Services…A Key Growth Driver Brink’s Global Services (BGS) Money Processing Payments CompuSafe® Diamonds Jewelry Banknotes Precious Metals 7
Slide 9: Global Operations Serving Customers in More Than 100 Countries
Global Operations Serving Customers in More Than 100 Countries* *Operations in 41 countries ARGENTINA CHILE BOLIVIA PANAMA COLOMBIA UK ITALY LUXEMBOURG SWITZERLAND POLAND TURKEY GERMANY GREECERUSSIA S. AFRICA BELGIUM BOTSWANAMOROCCOISRAELUAE IRELAND JAPANSINGAPORE VIETNAMCHINA KOREA AUSTRALIA INDIA
Slide 10: Strong Position in Our Largest Markets
GSI Other Loomis Garda Other Strong Position in Our Largest Markets Source: Internal estimates reflect market share of CIT/ATM market Estimated Market Share of Competitors in Our Top Five Markets These markets represent ~65% of Brink’s 2015 revenue 9 Loomis Prosegur Other Prosegur Protégé Other Othe
Slide 11: A Clear Path to Value Creation
A Clear Path to Value Creation* Our Strategy Achieve Operational Excellence…Offer Differentiated Services…Make Accretive Acquisitions Incremental Improvements Breakthrough Initiatives * For illustrative purposes only 10 Sales & New Business Branch Standardization Lean Technology Investments Accretiv
Slide 12: Financial Strength to Pursue Growth
Financial Strength to Pursue Growth Strong Balance Sheet • Investment grade credit rating • $323 million net debt • Ample additional debt capacity • Minimal cash outflow expected for legacy liabilities • No U.S. pension payments until 2020 • No payments to UMWA until 2027 Cash Flow Will Support Stra
Slide 13: Capex Spend
Capex Spend(a) ($ Millions, except ratio) ($) (a) Excluding Venezuela (b) As of July 28, 2016 $176 $169 $143 $116 $130 - $140 1.3 1.1 1.0 0.9 ~1.0 0.00. 10.02. 30.04. 5 0.06. 70.08. 90.10. 1 0.12. 30.14. 50.16. 7 0.18. 90.20. 10.22. 3 0.24. 50.26. 70.28. 9 0.30. 10.32. 30.34. 5 0.36. 70.38. 90.40. 1
Slide 14: Summary of 2Q16 Non-GAAP Results
Summary of 2Q16 Non-GAAP Results $31 2Q15 2Q16 $748 2Q15 2Q16 $0.30 2Q15 2Q16 EPSRevenue Organic Growth 5% Currency (7)% Operating Profit Margin 4.1% 5.3% ($ Millions, except % and per share amounts) Organic Growth 53% Currency (33)% $38 Reported $ 0.38 Reported $ 717 Reported $ 773 Constant Currenc
Slide 15: Continued Improvement Expected in 2016
Continued Improvement Expected in 2016 124 157 185 - 200 3.7% 5.3% 6.4% - 6.9% 2014 2015 2016 Outlook -20 -15 -10 -5 0 5 10 -25 25 75 125 175 225 275 2014 2015 2016 Outlook Note: See reconciliation to GAAP results in Appendix Non-GAAP Operating Profit Margin 2016 Non-GAAP Outlook (as of July 28, 201
Slide 16: Increase Cash Flow and Trading Multiple to Create Value
Increase Cash Flow and Trading Multiple to Create Value Adjusted 2014 2015 2016 Outlook* EBITDA $272 $291 $305 - 330 EBITDA % 8.1% 9.8% 10.5% - 11.4% Adjusted EBITDA Multiple Trailing 12 Months * As of September 9, 2016 Brink’s Adjusted EBITDA Multiple ($ Millions) Source: Publicly available peer fi
Slide 17: Why Brink's?
Why Brink’s? Premier Global Brand Symbol of security, service, trust Global footprint: #1 or #2 in key markets New Leadership Track record of value creation Focused on increasing EBITDA and trading multiple Instilling sense of urgency throughout company Value Creation Opportunities Accelerate profit
Slide 18: Appendix
Appendix
Slide 19: Appendix Index
Page Executive Bios 19 Non-GAAP Outlook 20 2015 Revenue and Operating Profit 21 Brink’s Historical Non-GAAP Results 22-23 Legacy Liabilities & Estimated Cash Payments 24-25 Other Items Not Allocated to Segments 26-28 Non-GAAP to GAAP Reconciliations 29-36 Index 18
Slide 20: Executive Bios
Executive Bios Doug Pertz President and Chief Executive Officer Douglas A. Pertz is the President and Chief Executive Officer and a director of The Brink’s Company and has served in these roles since June 2016. He has led several global companies as CEO over the past 20 years and throughout his care
Slide 21: Non-GAAP 2016 Outlook (as of July 28, 2016)
Non-GAAP 2016 Outlook (as of July 28, 2016) Note: See reconciliation to GAAP results in Appendix (a) Attributable to Brink’s 20152014 2016 Outlook Revenue $3,351 $2,977 ~$2,900 Op profit 124 157 185 – 200 Interest/Other Income (22) (15) (17) Taxes (47) (52) (66– 71) Noncontrolling interests (6) (5)
Slide 22: 2015 Revenue and Operating Profit
2015 Revenue and Operating Profit ($ Millions) Organic Acquisitions / YTD '14 Change Dispositions(a) Currency(b) YTD '15 Total Organic Revenues: U.S. 728 3 — — 730 — — France 517 — — (86) 432 (17) — Mexico 388 9 — (64) 333 (14) 2 Brazil 364 18 — (111) 270 (26) 5 Canada 180 (2) — (24) 154 (14) (1) La
Slide 23: Historical Non-GAAP Revenue
Historical Non-GAAP Revenue Note: See reconciliation to GAAP results in Appendix ($ Millions) Revenue $818 $837 $847 $848 $756 $748 $740 $733 $689 $717 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 22
Slide 24: Historical Non-GAAP Operating Profit and EPS
Historical Non-GAAP Operating Profit and EPS Note: See reconciliation to GAAP results starting on slide 29 ($ Millions, except per share amounts) ($) Margin Operating Profit EPS $0.15 $0.16 $0.12 $0.58 $0.44 $0.30 $0.40 $0.55 $0.30 $0.38 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 $21 $24 $21
Slide 25: Legacy Liabilities – Underfunding at December
Legacy Liabilities – Underfunding at December 31 ($ Millions) Primary U.S. Pension UMWA $(113) $(108) $(114) 2013 2014 2015 Primary U.S. Pension $(142) $(197) $(206) 2013 2014 2015 UMWA 24
Slide 26: Estimated Cash Payments to Pension and UMWA
Estimated Cash Payments: $0 to Primary U.S. Pension until 2020 $0 to UMWA until 2027 ($ Millions) Payments to Primary U.S. Pension Payments to UMWA $0 $9 $21 $17 $5 2015 2020 2021 2022 2023 $0 $3 2015 2027 25 Note: Projections based on actuarial assumptions as of 12/31/2015
Slide 27: Other Items Not Allocated to Segments
Other Items Not Allocated to Segments 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. A summary of the other items not allocated
Slide 28: Other Items Not Allocated to Segments
Other Items Not Allocated to Segments The Brink’s Company and subsidiaries Other Items Not Allocated to Segments (Unaudited) Venezuela operations We have excluded from our segment results all of our Venezuela operating results, including expenses related to currency devaluations of $7.4 million and
Slide 29: Other Items Not Allocated to Segments
Other Items Not Allocated to Segments The Brink’s Company and subsidiaries Other Items Not Allocated to Segments (Unaudited) Acquisitions and dispositions Certain acquisition and disposition items that are not considered part of the ongoing activities of the business and are special in nature are co
Slide 30: Non-GAAP Reconciled to GAAP
Non-GAAP Reconciled to GAAP The Brink’s Company and subsidiaries Non-GAAP Results Reconciled to GAAP (Unaudited) (In millions, except for percentages and per share amounts) Amounts may not add due to rounding. See slide 30 for footnote explanations. 2015 2016 1Q 2Q 3Q 4Q Full Year 1Q 2Q First Half R
Slide 31: Non-GAAP Reconciled to GAAP
Non-GAAP Reconciled to GAAP The Brink’s Company and subsidiaries Non-GAAP Results Reconciled to GAAP (Unaudited) (In millions, except for percentages and per share amounts) a) See “Other Items Not Allocated To Segments” on slides 26-28 for pretax amounts and details. Other Items Not Allocated To Seg
Slide 32: Non-GAAP Reconciled to GAAP
Non-GAAP Reconciled to GAAP The Brink’s Company and subsidiaries Non-GAAP Results Reconciled to GAAP (Unaudited) (In millions, except for percentages and per share amounts) Amounts may not add due to rounding. See slide 30 for footnote explanations. 1H'15 1H'16 Pre-tax Tax Effective tax rate Pre-tax
Slide 33: Non-GAAP Reconciliation – Outlook as of July 28, 2016
Non-GAAP Reconciliation – Outlook as of July 28, 2016 The Brink’s Company and subsidiaries Reconciliation of Non-GAAP to GAAP 2016 Outlook (Unaudited) (In millions) Amounts may not add due to rounding. a) Non-GAAP outlook excludes the impacts of Venezuela operations and acquisitions and dispositions
Slide 34: Non-GAAP Reconciliation – Net Debt
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 generally
Slide 35: Non-GAAP Reconciliation – Items Impacting Adjusted EBITDA
Non-GAAP Reconciliation – Items Impacting Adjusted EBITDA The Brink’s Company and subsidiaries Adjusted EBITDA (Unaudited) (In millions) a) Non-GAAP amounts exclude the impact of "Other Items Not Allocated to Segments" on the respective line items on the consolidated statements of operations. b) See
Slide 36: Non-GAAP Reconciliation – Items Impacting Adjusted EBITDA
Non-GAAP Reconciliation – Items Impacting Adjusted EBITDA The Brink’s Company and subsidiaries Non-GAAP Results Reconciled to GAAP - Other (Unaudited) (In millions) a) Refer to the 2015 Fourth Quarter press release exhibit 99.1 on Form 8-K filed February 4, 2016 for details b) Non-GAAP income from c
Slide 37: Non-GAAP Reconciliation – Other
Non-GAAP Reconciliation – Other The Brink’s Company and subsidiaries Non-GAAP Reconciliations – Other Amounts (Unaudited) (In millions) Fixed Assets Acquired 2012 2013 2014 2015 2015 2016 Capital expenditures - GAAP 170.8 172.9 136.1 101.1 35.2 45.0 Assets aquired under capital lease - GAAP 18.2 5.4