Good Times Continue for Cash Industry Leaders

Each February it is customary in Currency News™ to cover the annual results for 2022 for the leading companies in cash management, which is when most are published, with their success (or otherwise) providing a useful means of taking the pulse of our industry.

2019 was a year characterised by strong results and optimistic outlooks. That optimism was overturned in 2020 when COVID struck, but 2021 saw a rebound. We are glad to report that, for the five companies whose results we report here, 2022 was another good one, for some of them at least.

Brinks breaks records - again

For 2012, Brinks announced record sales and profits. It has surpassed these for 2022.

Revenue in 2022 increased by 8% to $4.53 billion, of which 12% represented organic growth. Operating profit (GAAP) increased by 2% to $361 million, with non-GAAP operating profit increasing by 17% to $550 million. The GAAP operating margin decreased slightly, from 8.4% in 2021 to 8% in 2022, but the non-GAAP operating margin increased from 11.2% to 12.1% - the highest operating margin in the company’s recent history.