A Positive Picture for Cash Companies in 2023 – Part 2

Last month, we covered the annual results of four of the major companies in the cash sector –Crane NXT, Loomis, NCR Atleos and Diebold Nixdorf. After the predicable challenges of the COVID years and their aftermath, 2023 was a good year for all.

This month is the turn of Brinks, Prosegur, Orell Füssli , Koenig & Bauer and Spectra Systems. Again, all turned in a positive performance for the year.

Record results for Brinks

2023 proved to be a particularly good year for Brinks, who reported record results in all key performance criteria, ie. in revenue, adjusted EBITDA, EPS (earnings per share) and cash flow.

Revenue of $4.87 billion was up by 7% versus 2022. Organic revenue growth was 9% and acquisitions accounted for 2% growth, but the foreign exchange impact was a negative 4%. Adjusted operating profit (EBITDA) of $867 million was 10% higher, pushing up the operating margin to 17.8% from 17.4% in 2022.