The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Miguel Gonzßlez Toquero - JB Capital Markets, Sociedad de Valores, S.A., Research Division - Analyst
: Three questions on my side. The first one is about the situation in Argentina. I know that from a cash flow perspective, you usually don't repatriate
cash in the first quarter. But I just wanted to know if you still have a mechanism in place to repatriate cash during the year and if you expect this
situation may deteriorate given the debt renegotiation process.
My second question is regarding the measures implemented to combat the COVID-19. As we have seen in the presentation, you took several
measures on labor and other costs, but I just wanted to know if you could be more specific about that. If you could give us an indication about
what are your forecasts on cost savings from these measures either for the year or the first semester, that will be helpful.
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MAY 26, 2020 / 9:30AM, CASHP.MC - Q1 2020 Prosegur Cash SA Earnings Call
And my third question is about the money carriers in the first quarter. I don't know if you could give us an indication of the EV-sales multiple base.
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: Three questions, if I may. The first one is regarding the phasing of the impacts from the COVID throughout the year. You have stated that you're
seeing the second quarter volumes dropping by 20% to 25% -- or sorry, revenues dropping 20% to 25%. Is that on a local currency? On a reported
terms? And whether you can give us some more granularity between the trends -- different trends between Europe and Latin America.
And also on the phasing throughout the year, when you are referring to this gradual recovery for the second half, that means, for example, that at
the end of the year, you should expect similar levels then to 4 quarters last year, for example? That was a reasonable assumption. Or this is more,
let's say, a best-case scenario?
My second question is regarding the -- your repatriation scheme from Argentina throughout the year. Does the event of default of Argentina
change? Anything about the technicality of this, I don't know, in terms of further financial expenses of repatriation or to being even more difficult
as repatriation?
without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its
affiliated companies.
MAY 26, 2020 / 9:30AM, CASHP.MC - Q1 2020 Prosegur Cash SA Earnings Call
And my final question is on the cash flow statement. It appears you have pretty large EUR 32 million cash outflow in the other line. Can you give
us some indication of what is that?
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