Prosegur Cash, S.A. Q1 2026 Earnings Recap

Shares dipped 0.5% following Q1 results as currency headwinds and ongoing macroeconomic challenges offset solid organic growth and stable margins, leaving investors cautious despite modest profit gains.

Key Takeaways

• Revenue declined 3.7% year-on-year to EUR 497 million due to a significant negative foreign exchange impact of 6.6%, partially offset by 3.2% organic growth.
• EBITDA margin held steady at 17.3%, down only 10 basis points from Q1 2025, reflecting effective cost control amid inflationary pressures.
• Net profit increased 8.1% to EUR 26 million, driven by improved financial results and a lower tax rate (down 300 bps to 42%).
• Transformation initiatives remain on track, with related products growing 6.2% and now representing 36.4% of sales, supporting long-term strategy.
• Management flagged geopolitical uncertainties and rising fuel costs; fuel price inflation is being passed on to customers with limited near-term margin impact.