Prosegur Compania De Seguridad Sa · BME:PSG
Prosegur Compania De Seguridad Sa — Prosegur — Q1 2007 Earnings Presentation
16 slides from Prosegur Compania De Seguridad Sa's earnings presentation, May 8, 2007
Slide 1: Preliminary Earnings Results 1st Quarter 2007 Grupo Prosegur
Preliminary Earnings Results 1st Quarter 2007 Grupo Prosegur Madrid, 8 May 2007 1
Slide 2: Executive Summary
Executive Summary Euro millions Total growth Growth Profitability Sales Sales EBIT EBIT +11,4% +25,8% 427,6 40,6* 383,9 28,8 36,2 1Q 2006 1Q 2007 Margin 7,5% 9,5%* 8,5% 1Q 2006 1Q 2007 • Strong growth trend, mainly due to the organic growth, • Margins improvement due to good performance of all the +
Slide 3: Overview of Grupo Prosegur financial results 1Q 2007
Overview of Grupo Prosegur financial results 1Q 2007 Euro millions Profit and Loss Account 1Q 2007 1Q 2006 Dif. Sales 427,6 383,9 +11,4% EBITDA 47,2 39,4 +19,6% Margin 11,0% 10,3% Depreciation -11,0 -10,7 EBIT 36,2 28,8 +25,8% Margin 8,5% 7,5% Financial Costs -3,5 -2,9 +20,7% Profit before taxes 32,
Slide 4: Sales analysis
Sales analysis Euro millions Profit and Loss Account 1Q 2007 1Q 2006 Breakdown of sales growth Sales 427,6 383,9 EBITDA 47,2 39,4 Total Margin 11,0% 10,3% +11,4% Sales of: Depreciation -11,0 -10,7 427,6 – Escol: from January 07 – Fireless: from January 07 EBIT 36,2 28,8 3,3 – New markets (Mexico and
Slide 5: Operating margins analysis
Operating margins analysis Euro millions Profit and Loss Account 1Q 2007 1Q 2006 Evolution of EBIT margin Sales 427,6 383,9 (not included the provision about extra – EBITDA 47,2 39,4 overtime- hours payments in Spain) Margin 11,0% 10,3% Without “Start up Cost” (Mexico and Depreciation -11,0 -10,7 Ro
Slide 6: Financial and fiscal results analysis
Financial and fiscal results analysis Euro millions Profit and Loss Account Overview of Financial Results 1Q 2007 1Q 2006 • Overall increase of the financial costs, although interest Sales 427,6 383,9 financial expenses have decreased from €4,4m. 1Q06 to EBITDA 47,2 39,4 €3,2 m. 1Q07, due to the low
Slide 7: Investments and Net Debt evolution
Investments and Net Debt evolution Euro millions Capex Capex Maintenance of Company´s investment effort 12,5 with high levels of Capex, mainly in: (i) renewal 12,1 of the armored fleet in LatAm, (ii) technology in cash management and valuables logistics in Spain, and (iii) efficiency improvements in
Slide 8: Breakdown of Grupo Prosegur results
Breakdown of Grupo Prosegur results Euro millions Corporate Security Services Sales +11,5% 404,1 362,6 Total Grupo Prosegur Sales +11,4% EBIT 35,3* 427,6 24,0 383,9 30,9 Margin 6,6% 7,6% EBIT +25,8% + 40,6* Residential Security Services 28,8 36,2 Sales Margin 7,5% 8,5% +10,3% 23,5 1Q 2006 1Q 2007 21
Slide 9: Corporate Security Services
Corporate Security Services 9
Slide 10: Breakdown of Corporate Security Services 1Q 2007 results
Breakdown of Corporate Security Services 1Q 2007 results Euro millions Europe Sales 267,1 243,2 Total Corporate Security Services 1Q 2007 EBIT 18,2* Sales n.a. 13,8 404,1 362,6 Margin 6,8%* 5,2% EBIT + 35,3* LatAm n.a. 30,9 Sales Margin 7,6% 137,1 1Q 2007 119,4 EBIT 17,1 n.a. * Not included the prov
Slide 11: Corporate Security Services: Overview of Europe Results
Corporate Security Services: Overview of Europe Results Total Sales. Euro millions Total Growth Europe +9,8% 267,1 243,2 1Q 2006 1Q 2007 Romania France 1,9 - 5% 0,0 25,1 23,9 Portugal +12,4% Italy 29,4 26,1 33,1% Spain +9.6% 9,4 7,1 202,5 184,8 11
Slide 12: Corporate Security Services: Overview of Latinoamerica Results
Corporate Security Services: Overview of Latinoamerica Results Total Sales. Euro millions Total Growth LatAm +14,8% Mexico 137,1 119,4 0,1 0,0 1Q 2006 1Q 2007 Peru Brazil +17,2 % +7,8 % 8,8 72,6 8,2 62,0 Note: The growth is +12% without Note: The growth is +22,8% without considering the effect of ex
Slide 13: Highlights of the period
Highlights of the period • In Spain, the price review process has been concluded more rapidly than in 2006 Europe Europe • In France, the sales decrease is due to a time effect is the electronic systems revenues (increase in the ongoing workload/ projects but not billed to the clients yet) • Higher
Slide 14: Residential Security Services
Residential Security Services 14
Slide 15: Residential Security Services 1Q 2007 results analysis
Residential Security Services 1Q 2007 results analysis Euro millions Growth Sales Sales +10,3% 23,5 Highlight of the period 21,3 • Reinforcement of the sustainable growth + high profitability strategy in all the markets, during the first quarter of the year EBIT EBIT +10,3% 5,3 4,8 Margin 22,5% 22,5
Slide 16: Prosegur
&S PROSEGUR