Prosegur Cash reports sales of €1.861 billion, with new products accounting for 30.4% of the total
  • Prosegur Cash has concluded a solid 2023, with revenues of €1.861 billion and an improvement of organic growth at double-digit levels in all geographies both in the year and by quarter standalone
  • Prosegur Cash's EBITA for the year reached €220 million, with a margin of 11.8%, significantly and temporarily affected by the exchange rate in Latin America and hyperinflationary accounting adjustments
  • Cash generation continues positively, with a Free Cash Flow of €120 million
  • The company proposes to increase the dividend for 2023 to 60 million euros

Madrid, February 29, 2024. Prosegur Cash has recorded sales of €1.861 billion for 2023, down 0.6% on the previous year. The company experienced extraordinary organic growth of 50.8%, which increased by double-digit in all geographies, both in the year and by quarter. Prosegur Cash's EBITA for the year reached €220 million, with a margin of 11.8%, significantly and temporarily affected by the impact of exchange rates and hyperinflation accounting in Latin America, a region that represents 60% of the company's total sales.

Cash generation continued to perform positively, with Free Cash Flow reaching €120 million. The performance of New Products was particularly noteworthy, which, at €566 million, accounted for 30.4% of the total sales of Prosegur Cash in 2023 (an increase of 4.8 percentage points in its relative weight compared to the same period of the previous year), a figure which increased to 33.5% in the fourth quarter. In particular, the main transformation solutions offered by the company, cash digitization solutions Cash Today, correspondent banking services provider Corban and the Forex business all enjoyed double-digit growth.

Activity by region

Sales in Latin America reached €1.125 billion for 2023, negatively and temporarily impacted by exchange rates. With regards to New Products, they accounted for 31.4% of total sales in the region, with a penetration rate of 36.5% in the fourth quarter.

In Europe, sales rose by 23% year-on-year to €613 million, with significant organic growth of 11.8% and a contribution from inorganic growth of 11.3%, leveraged by the Forex business. New products broke the 30% mark reaching 30.2% of sales. EBITA came in at €33 million, the best result since 2019.

The Asia-Pacific region posted sales of €124 million during 2023, with solid organic growth of 17% and New Products penetration of 23% over total revenues. It is worth highlighting the negative inorganic impact of the change in the consolidation methodology of the business in Australia following the merger between Prosegur Cash and Armaguard Group, the country’s largest securities transit and cash management company that since September is accounted for under the equity method.

True to its shareholder remuneration target, the company proposes to increase the dividend for 2023 to 60 million euros. This implies a 50% increase in the dividend and a 20% increase in total shareholder remuneration compared to the previous year.


Prosegur Cash continued to pursue its ESG policies, especially in the area of sustainability. It developed 23 energy efficiency projects in 8 countries, reducing consumption by 490 MWh. At the same time, it was reduced fuel consumption and used new, lighter materials for its armored fleet.

Reflecting its pro-active approach to CSR, Prosegur Cash launched its Third Global Road Safety Campaign, with the participation of more than 3,800 employees from various countries. It also signed up to the UN Women's Empowerment Principles to promote gender equality in the workplace.

Over the course of 2023, Prosegur Cash has continued to develop new Corporate Governance policies and implement its unique global tool for managing money laundering prevention systems. Thanks to these and other initiatives, Prosegur Cash has revalidated its score in the ESG evaluation of various rating agencies, with S&P Global Ratings recognizing its commitment in environmental, social and governance matters.