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: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: My first question is on revenue indications for Latin American business for the second quarter. In the sense that in the first quarter, you have
delivered a solid underlying growth offset by FX headwinds. But it's also fair to say that comps were easier on EUR 277 million. And there is a
ramp-up on those comps. Q2 last year, you made EUR 324 million, which is actually below what you have reported on the first quarter. So it's
another double-digit growth for the second quarter standalone, the right way to see the evolution of the business on this area? Or how we modelize
going forward?
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: Yes. Basically, I was wondering regarding is that double-digit growth in Latin America, its valid for the second quarter given the fact that comps
are getting tougher. You reported EUR 277 million in Q1 and in Q2 last year was already EUR 324 million.
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: So do you believe that 36% organic is sustainable?
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: And another question. You stated that EBITDA consensus of EUR 280 million. If you multiply the EUR 60 million reported in the first quarter, you
reached well below that level. So that improvement throughout the year is a combination of higher operational leverage, are you pass through
the crisis, the contribution from Change, easing of FX. Can you elaborate a little bit of this is the case or am I missing something that we should
consider?
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: Because you have stated that the Change contribution for the whole year will be roughly EUR 100 million?
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APRIL 28, 2023 / 9:30AM, CASHP.MC - Q1 2023 Prosegur Cash SA Earnings Call
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: But in terms of revenues, in the first quarter, it has contributed roughly EUR 20 million. So top line speaking, there is no seasonality?
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