Prosegur Compania De Seguridad SaBME: PSG

3M 2026 Results Presentation

· Issued by Prosegur Compania De Seguridad Sa

Q1 2026 Results Presentation

1

May 5th 2026

1

Investor Relations Department



Key milestones Growth

Profitability

Cash Flow

News

+1.5% YoY

1

Sales growth

2

Diversified growth

  • Spain, United States and

APAC region leading growth

  • Organic growth close to

    8%

  • Volume growth across

all business lines

Sales

1,274 €M

+0.7% YoY

1

2

Cash

  • EBITA margin impacted by the

    macroeconomic environment and the country mix evolution

    Security

  • 12.7% YoY increase driven by

solid and healthy growth

3 Alarms

  • Implemented a strategic

commintment to quality growth

EBITA

87 €M

+143% YoY

1

Working capital improvement

  • Efficient management driven by

stock and DSO

2 Net Debt reduction

  • 28€M reduction

3

Record cash generation in Security

in Q1

  • Cash break-even reached for the

firs t time in Q1

Operating CF

8 €M

YoY

1

Cash bond repayment

  • 600€M Prosegur Cash bond amortization

2 EIB Financing

  • 60€M loan formalized with the

European Investment Bank

3

Cipher integrated into Security

  • The Cybersecurity division

complements Security business

Net Profit

15%



3





Sales and Profitability

€M amounts

1.5%

0.0%

1,353

1,255

1,274

Q1 25

Org

Inorg

Q1 26

pre-FX

FX(1)

Q1 26

Sales by Region

€M amounts

4.0%

1.9%

7.6%

Europe

LatAm

RoW

165

153

504

485

605

617

-6.2%

+7.8%



Total Sales

(1) Includes FX and IAS 21 and 29

Profitability - EBITA (€M) Evolution Q1 26 vs 25

€M amounts

0.7%

86

87

6.8%

6.8%

EBITA

EBITA %

Q1 25

Q1 26

Cash

Organic growth of 3.2%, led by the APAC region

Security

4% sales growth and profitability above 12%,

particularly driven by the U.S.

Alarms

Double-digit organic growth.

Strategy implemented with a focus on solid, high-quality growth

CASH

Sales

3.7%

EBITA

7.3%

Security

Sales

4.4%

EBITA

12.7%

Prosegur Alarms (2)

Sales

7.8%

Service Margin %

2 bps



(2) Prosegur Alarms ex-MPA 4

Q1 2025

Q1 2026





Income Statement

€M amounts

Variation

SALES

Organic Growth

1,255

+16.2%

1,274 1.5%

+7.8%

Inorganic Growth FX

EBITDA

-6.6%

138

11.0%

-6.2%

141

11.1%

2.4%

Margin

Depreciation

EBITA

Margin

Amortization of intangibles and impairments

EBIT

(52)

86

6.8%

(8)

78

6.2%

(15)

63

5.0%

(54)

87

6.8%

(7)

79

6.2%

(14)

65

5.1%

0.7%

1.2%

Margin

Financial result

Profit before taxes

3.0%

Margin

Taxes

Tax Rate

Net Profit

Minorities

CONSOLIDATED NET PROFIT

46.51%

34

(5)

28

42.01%

37

(5)

33

11.7%

15.2%

(27)

(29)

0.0%

1.8%

Net profit Taxes

Net Profit

15%

Compared with the same

period last year

◢ Efficient

management of

financial res ults and taxes continues to drive an improvement in net profit

Tax Rate

449bps

Significant improvement during the period

◢ The rate continues to improve, thanks to a s ound fis cal

s trategy underpinned by improved results across all regions



5

1,409

1,381

Financial net debt

Debt IFRS 16

94

23

Deferred payments and treasury shares

-216

Q1 25

Financial investments

Q1 26

€M amounts

Net Debt

-188

133

1,413

149

1,382

Average cost of debt

2.9%

S&P Rating

BBB

Net debt/EBITDA

2.4x



Q1 2026



€M amounts

Q1 2025

EBITDA

138

Provisions and other non-cash ítems

(19)

Tax on profit

(28)

Changes in working capital

(97)

Free Cash Flow

(54)

Payments for the acquisition of subsidiaries

(2)

Dividend payments

(3)

Treasury shares and others

(14)

Consolidated cash flow

Interest payments

Operating Cash Flow

Acquisition of property, plant & equipment

(13)

(19)

(35)

Total Net cash flow

(73)

141

(24)

(24)

(74)

(11)

8

(40)

(32)

(2)

(5)

(4)

(43)

Initial Net Financial Debt

(1,305)

(1,377)

(43)

7

(1,413)

188

(23)

IFRS 16 Debt

Net Debt

(149)

(1409)

(133)

(1,381)



◢ Leverage remains at comfortable levels and the financial cos t of debt is under control

◢ Significant improvement in operating cas h flow, driven by

efficient working capital management

◢ 28€M net debt reduction

Net increase / (decrease) in cash

(73)

Exchange rate

(4)

Final Net Financial Debt

(1,382)

Financial investments (1)

216

Outstanding deferred payments and treasury shares

(94)

  1. Telefónica shares valued at market Price at period-end

  2. Includes net financial debt, IAS 16, deferred payments, treasury shares and financial investments. EBITDA LTM 6

Results by Business



Growth €M

Profitability EBITA €M

Operating Cash Flow €M



3.7%

516

-0.2%

+3.2%

-6.6%

497

Q1 25

Org

Inorg

FX (1)

Q1 26

Transformation Products

on sales

36.4%

  • Organic growth of 3.2%, driven by the

    APAC region and Europe

  • Trans formation Products reached 36.4% of total sales

7.3%

61

56

11.8%

11.3%

Q1 25

Q1 26

  • EBITA margin impacted by currency devaluation and geographic mix

  • EBITA positively driven by a higher s hare of Trans formation Products and efficiencies from prior years

EBITA margin

11.3%

53.6%

18

12

Q1 25

Q1 26

  • Significant improvement in cas h

    generation, driven by s ound working capital management

  • Strict CAPEX dis cipline

Operating cash

generation

18€M





(1) Includes FX and IAS 21 and 29

8

(1)

Growth €M

Profitability EBITA €M

Operating Cash Flow €M



4.4%

657

+9.6%

0.0%

-5.2%

685

Q1 25

Org

Inorg

FX (2)

Q1 26

Organic Growth

YoY

9.6%

  • Sales growth driven by the U.S. market

  • The U.S. strengthens its leaders hip through

double-digit growth, becoming the

s econd-larges t contributor to sales

12.7%

17

19

2.8%

2.6%

EBITA Mrg.

EBITA

Q1 25

Q2 26

Profitability increase

YoY

12.7%

  • Margin improvement leveraged by

    s calability and growth in s ales productivity

  • Price revis ion underway and progres s ing

well

0

-14

Q1 25

Q1 26

Operating cash flow

YoY

+14€M

  • Strong 14€M improvement in operating cas h flow, with Security consolidating its position as a s trong cas h generator for the Group

  • Trend explained by excellent working capital management, driven by improved DSO





  1. Includes Security and Cipher

  2. Includes FX and IAS 21 and 29 9





Customer base Revenues (2)

BTC

8.9%

984k

1,072k

Q1 25

Q1 26

421k

564k

452k

620k

New Clients

27K

26K

21K

17K

Q1 25

Q1 26

Churn Rate

95 bps

67 bps

Q1 25 Q1 26

Q1 25 Q1 26

12%

10%

13%

10%



€M amounts

7.8%

1,5% -16.2%

61

66

Q1 25 Org Inorg

FX(1)

Q1 26

Organic growth

Only of Prosegur Alarms

22.5%

Clients Scoring (4) Activation fee revenue increase 35% YoY

22.5%



Profitability

ARPU

4.7%

3.5%

48.0

45.8

42.4

43.9

46.4 44.2

38,7 40,8

-4.7% +5.2%

Q1 25 Q1 26

Discount linked to customer acquisition

Service margin

0.2%

17.4%

48% 50%

22 22

56% 62%

25

22

21 21

-0.9%

25

+18.1%

Q1 25 Q1 26

Depreciation

21

Q1 25 Q1 26

Acquisition margin (3)

10.4%

Q1 25 Q1 26

8.6%

Q1 25 Q1 26

1,146 € 1,265 € 1,578 € 1,714 €



48.0 45.8

46,4 44,2

Q1 25 Q1 26

Prosegur Alarms Movistar Prosegur Alarmas

(1) Includes FX and IAS 21 and 29

(2) Reported Alarms sales belonging exclusively to Prosegur, Movistar Prosegur Alarmas sales are not included

10

(3) Acquisition marging, excluding financial effects

(4) Prosegur Alarms, ex-MPA



Service cash flow

3.8%

105

57

109

77

48

-33.6%

32

Service Cash Flow - Prosegur Alarms

Amount €M

Q1 25

Q1 26

Replacement cash flow

Recurring cash flow

29.8%

183

141

111

87

53

+33.5%

71

Service Cash Flow - MPA

Amount €M

Q1 25

Q1 26

Replacement cash flow

Recurring cash flow

14.2%

201

176

101

133

75

-9.6%

67

Service Cash Flow Prosegur Alarms + 50%

MPA

Amount €M

Q1 25

Q1 26

Replacement cash flow

Recurring cash flow



11

Key corporate milestones for the period
  • Financing agreement with the European

    Inves tment Bank

  • 60€M at a fixed interes t rate with a

    s ix-year maturity

  • Boosting R&D&i, as well as to the digital s trategy

  • Second loan granted by the European institution to Pros egur



  • ESG ratings improvement in the quarter

B (iincreas e 1 notch)

73/100 (0 min-100 max)



Corporate financing



ESG Innovation Rating y proxies

12

Conclusions



Conclusions

Group

Cash

Security

Alarms



Growth

Sales increased by

1.5%, reaching €1,274

M

Organic growth of

3.2%, led by the APAC

región and Europe

4.4% sales growth, led

by the U.S.,

second-largest country by sales

Double-digit organic

growth, reaching

22.5%



EBITA margin broadly

EBITA margin impacted

Margin of 2.8%.

Profitabili

Net Profit

country mix evolution

Service margin

improvement: 50% at

Prosegur Alarms and

62% at MPA

in

Strong performance

price revision

by the macro environment and

in line, close to 7%. 15% improvement in

ty



Cash Flow

8€M operating cash

flow, reducing net debt by 28€M

Solid working capital

management,

strengthening cash flow

14€M improvement,

consolidating its position

as a Group cash generator

€67 M in rolling

recurring cash (to be

reinvested in growth)



14

Q&A



Financial Calendar

26 May 2026

MedCap Forum 2026

Madrid

16 June2026 Goldman Sachs Conference 2026 Londres

31 July 2026

Q2 26 Results Presentation Madrid

Investor Relations Contact

Cristina Casado Barroso

Inves tor Relations Director

cristina.casado@prosegur.com

accionistas@prosegur.com

12 Herberto Gut Street, 28007, Madrid, Spain

+34 915 588 021





Prosegur promotes open and proactive communication with capital markets and their participants, with the aim of

achieving a fair and appropriate valuation of the company, in line with the principles of responsibility and sustainability it upholds.

Communication Policy with Shareholders, Institutional Investors and Proxy Advisors

16

Attention: This is an excerpt of the original content. To continue reading it, access the original document here.

Earlier from Prosegur Compania De Seguridad Sa

All Prosegur Compania De Seguridad Sa news releases