Slide 1: Fourth-Quarter 2012 Earnings Conference Call
Exhibit 99.2 The Brink’s Company Fourth-Quarter 2012 Earnings Conference Call NYSE:BCO February 1, 2013
Slide 2: Forward-Looking Statements
Forward-Looking Statements These materials contain forward-looking statements. Actual results could differ materially from projected or estimated results. Information regarding factors that could cause such differences is available in today's release and in The Brink’s Company’s most recent SEC fili
Slide 3: The Brink's Company - Investor Relations
The Brink’s Company Ed Cunningham Director - Investor Relations
Slide 4: Today's Announcements
Today’s Announcements • 4th Quarter and Full-Year Earnings • GAAP and non-GAAP • Europe Divestitures in Discontinued Operations • $104 Million Revenue • $16 Million Operating Loss ($.31 per share) on non-GAAP basis Note: See reconciliation to GAAP results in Appendix 4
Slide 5: Summary of 2012 Non-GAAP Results
Summary of 2012 Non-GAAP Results Fourth Quarter • Non-GAAP EPS $.60 vs $.67 • Revenue up 4% (6% organic increase) Full Year • Non-GAAP EPS $2.31 vs $2.32 • Revenue up 2% (7% organic increase) Impact of Europe Restructure • Lifts full-year 2012 EPS by $.31; $.09 lift in 4Q Note: See reconciliation to
Slide 6: The Brink's Company - CEO
The Brink’s Company Tom Schievelbein Chairman, President and Chief Executive Officer
Slide 7: CEO Overview
CEO Overview Fourth Quarter • North America and Europe profits improve • Latin America profit down 2013 • Segment Margin Outlook: 6.0% - 6.5% on a non-GAAP basis • Productivity investments • Devaluation in Venezuela Note: See reconciliation to GAAP results in Appendix 7
Slide 8: Strategy Update
Strategy Update • Maximize profits in North America and Europe • 7% Margin goal achieved in Europe in 2012 • Margin improves in North America to 4.4% • Grow in Latin America • 2013 Segment margin rate outlook positive • Continued productivity investments • Enter adjacent markets • Brink’s Money ™ Ca
Slide 9: Review and Outlook
The Brink’s Company Review and Outlook Joe Dziedzic Vice President and Chief Financial Officer
Slide 10: 4Q12 Non-GAAP Results
4Q12 Non-GAAP Results ($ millions, except EPS) Revenue Segment EPS Operating Profit Margin 8.1% 7.4% Full Year $3,756 $3,833 $267 $268 $2.32 $2.31 Margin 7.1% 7.0% Note: See reconciliation to GAAP results in Appendix 10
Slide 11: Non-GAAP EPS: 2011 Versus 2012
Non-GAAP EPS: 2011 Versus 2012 Segment Non- Interest Non- Operating Segment Expense, Controlling Tax Profit Expense Net Interest Rate/Diluted Shares $0.50 Profit increase $0.08 Venezuela excluding items below $(0.02) Diluted Shares $(0.06) Tax Rate $(0.20) Foreign currency $(0.21) Venezuela profit d
Slide 12: Full Year 2012 Non-GAAP Segment Results
Full Year 2012 Non-GAAP Segment Results Revenue — 7% Organic growth, 5% unfavorable currency — 15% Organic growth in Latin America — 2% Organic decline in North America Segment Operating Profit Segment Operating Profit Margin 8.2% 7.1% 7.0% — Unfavorable currency impact of $15 — North America up $6
Slide 13: Cash Flow, Capital Investment and Net Debt
Non-GAAP Cash Flow, Capital Investment and Net Debt ($ Capital Net Debt (a) millions) Non-GAAP Expenditures CFOA(a) (b) and Capital $270 Leases(b) $246 $235 $232 $232 North $203 America International (a) See reconciliation to GAAP results in Appendix (b) From continuing operations 13 13
Slide 14: 2012 Results versus Guidance
2012 Results versus Guidance Outlook as of February 2, 2012 Actual Results Revenue — Organic growth 5% to 8% — 7% Growth driven by Latin America — Unfavorable currency impact 3% — 5% Unfavorable from Euro, Brazilian Real & to 5% Mexican Peso Non-GAAP Segment Margin Rate — North America 4.5% to 5.5%
Slide 15: 2013 Outlook
F. > y ¥. = dy 4 2013 Outlook y, iii ZF
Slide 16: 2013 Outlook
2013 Outlook February 1, 2013 Assumptions Revenue — Organic growth 5% to 8% — Growth in Latin America, North America and Europe flat — Unfavorable currency impact 1% to — Venezuela devaluation 2Q13 impact of $130 million, 3% 3% of total revenue Non-GAAP Segment Margin Rate — North America 4.0% to 4.
Slide 17: Fourth-Quarter 2012 Earnings Conference Call
The Brink’s Company Fourth-Quarter 2012 Earnings Conference Call NYSE:BCO February 1, 2013
Slide 18: Appendix - Legacy Liabilities
Appendix - Legacy Liabilities
Slide 19: Legacy Liabilities
Legacy Liabilities ($ millions) $275 Under- funding Note: Above amounts based on actuarial assumptions at December 31, 2012. Estimated Contributions to U.S. Plans 2012A 2013 2014 2015 2016 2017 US Pension $ 37 14 29 42 44 38 UMWA 0 0 0 0 0 0 Black Lung/Other 7 5 5 5 4 4 Total $ 44 19 34 47 48 42 19
Slide 20: Non-GAAP Reconciliations - U.S. Retirement Plans Obligation
Non-GAAP Reconciliations - U.S. Retirement Plans Obligation DISCOUNTED CASH FLOWS AT PLAN DISCOUNT RATES - RECONCILED TO AMOUNTS REPORTED UNDER U.S. GAAP December 31, 2012 Primary U.S. pension plan UMWA plans Other unfunded (b) (c) U.S. plans Total Funded status of U.S. retirement plans - GAAP $ 263
Slide 21: Appendix Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations
Slide 22: Non-GAAP Reconciliations - 1Q12
Non-GAAP Reconciliations - 1Q12 Additional European Gains on Operations Acquisitions Employee Benefit U.S. Tax Benefit on Change Adjust Non- GAAP to be and Asset Settlement & Retirement in Health Care Funding Income Tax GAAP Basis Exited (a) Dispositions (b) Severance Losses (c) Plans (d) Strategy(e
Slide 23: Non-GAAP Reconciliations - 2Q12
Non-GAAP Reconciliations - 2Q12 Additional European Gains on Operations Acquisitions Employee Benefit U.S. Tax Benefit on Change Adjust Non- GAAP to be and Asset Settlement & Retirement in Health Care Funding Income Tax GAAP Basis Exited (a) Dispositions (b) Severance Losses (c) Plans (d) Strategy(e
Slide 24: Non-GAAP Reconciliations - 3Q12
Non-GAAP Reconciliations - 3Q12 Additional European Gains on Operations Acquisitions Employee Benefit U.S. Tax Benefit on Change Adjust Non- GAAP to be and Asset Settlement & Retirement in Health Care Funding Income Tax GAAP Basis Exited (a) Dispositions (b) Severance Losses (c) Plans (d) Strategy(e
Slide 25: Non-GAAP Reconciliations - 4Q12
Non-GAAP Reconciliations - 4Q12 Additional European Gains on Operations Acquisitions Employee Benefit U.S. Tax Benefit on Change Adjust Non- GAAP to be and Asset Settlement & Retirement in Health Care Funding Income Tax GAAP Basis Exited (a) Dispositions (b) Severance Losses (c) Plans (d) Strategy(e
Slide 26: Non-GAAP Reconciliations FY 2012
Non-GAAP Reconciliations FY 2012 Additional European Gains on Operations Acquisitions Employee Benefit U.S. Tax Benefit on Change Adjust Non- GAAP to be and Asset Settlement & Retirement in Health Care Funding Income Tax GAAP Basis Exited (a) Dispositions (b) Severance Losses (c) Plans (d) Strategy(
Slide 27: Non-GAAP Reconciliations - 2012 Footnotes
Non-GAAP Reconciliations - 2012 Footnotes (a) To eliminate results of additional European operations we intend to exit in 2013. Operations do not currently meet requirements to be classified as discontinued operations. (b) To eliminate: • Gains related to the sale of investments in mutual fund secur
Slide 28: Non-GAAP Reconciliations - 4Q11 and FY 2011
Non-GAAP Reconciliations - 4Q11 and FY 2011 Gains on Additional European Acquisitions and Mexico Employee U.S. Adjust GAAP Operations to be Asset Benefit Settlement CEO Retirement Retirement Income Tax Non-GAAP Basis Exited(a) Dispositions(b) Losses (c) Costs (d) Plans (e) Rate (f) Basis Fourth Quar
Slide 29: Non-GAAP Reconciliations - 2011 Footnotes
Non-GAAP Reconciliations - 2011 Footnotes (a) To eliminate results of additional European operations we intend to exit in 2013. Operations do not currently meet requirements to be classified as discontinued operations. (b) To eliminate gains as follows: Full Year 2011 Operating EPS Sale of U.S. Docu
Slide 30: Non-GAAP Reconciliations - Full Year 2010
Non-GAAP Reconciliations - Full Year 2010 Revenue: EMEA 1,054.5 (9.9) − − − − − 1,044.6 International 2,058.4 (9.9) − − − − − 2,048.5 North America 917.8 − − − − − − 917.8 Operating profit: Diluted EPS - continuing operations 0.05 0.12 (0.06) 0.04 0.28 0.29 2.39 Amounts may not add due to rounding.
Slide 31: Non-GAAP Reconciliations - 2010 Footnotes
Non-GAAP Reconciliations - 2010 Footnotes (a) To eliminate results of additional European operations we intend to exit in 2013. Operations do not currently meet requirements to be classified as discontinued operations. (b) To eliminate: • Loss recognized related to acquisition of controlling interes
Slide 32: Non-GAAP Reconciliations - Cash Flows
Non-GAAP Reconciliations - Cash Flows NON-GAAP CASH FLOWS FROM OPERATING ACTIVITIES - RECONCILED TO AMOUNTS REPORTED UNDER U.S. GAAP 2012 2011 Cash flows from operating activities - GAAP $ 250.5 $ 247.0 Decrease (increase) in certain customer obligations (a) (15.7) 11.7 Discontinued operations (b) 1
Slide 33: Non-GAAP Reconciliations - Net Debt
Non-GAAP Reconciliations - Net Debt NET DEBT RECONCILED TO GAAP December 31, 2012 2011 Debt: Short-term debt $ 26.7 25.4 Long-term debt 362.6 364.0 Less: Cash and cash equivalents 201.7 182.9 Cash and cash equivalents available for general corporate purposes 157.7 157.8 Net Debt $ 231.6 231.6 (a) Ti
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