Digital Cash Payment Solutions Add New Layer of Growth
2024 Targets Include Annual Organic Revenue Growth of 7%, Adjusted EBITDA of
Management Affirms 2021 Guidance and 2022 Targets
“While cash usage accounts for approximately two-thirds of global consumer transactions, it’s clear that the payments ecosystem is changing, and we’re changing with it. Our digital solutions enable us to accelerate revenue and profit growth while continuing to play a critical role in facilitating economic inclusion, especially for vulnerable populations around the world that depend on cash.”
Pertz added: “We plan to achieve our 2024 financial targets by executing on two strategies. Strategy 1.0 is all about operational excellence, and is a continuation and expansion of the organic initiatives that made our first three-year strategic plan so successful, including revenue growth of 27% and operating profit growth of 81% from 2017 to 2019.
“Strategy 2.0 is focused on adding a new layer of high-margin growth by introducing digital cash payment solutions that enable retailers to process cash as easily as they process cards and other digital payments. Most retailers already have a digital solution to accept cards and other payments, but they don’t have a digital solution to manage cash payments, which account for a significant portion of their transactions. We have that solution, and we believe it will change the way customers and investors look at Brink’s. Our Strategy 2.0 digital solutions, including our growing ATM managed services business, give us a sustainable, first mover competitive advantage. We expect these solutions to add an incremental 10% of total revenue by 2024.”
As part of its go-to-market strategy, the company is launching BLUbeem™ by Brink’s®, a new brand for its digital cash payment solutions. Through partnerships with digital payment providers, BLUbeem digital cash payment solutions will be integrated with non-cash digital solutions and point-of-sale (POS) systems to provide a single solution for cash, card and digital payments.
Financial Targets
Management expects annual organic revenue growth of at least 7% to add over
Management affirmed 2021 guidance, with revenue in a range between
Investor Day
Brink’s is hosting a virtual Investor Day event today,
About The Brink’s Company
The Brink’s Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our global network of operations in 53 countries serves customers in more than 100 countries. For more information, please visit our website at www.brinks.com or call 804-289-9709.
Non-GAAP Financial Measures
Non-GAAP financial measures described in this press release are financial measures that are not required by or presented in accordance with
The Non-GAAP financial measures are intended to provide investors with a supplemental comparison of our operating results and trends for the periods presented. Our management believes these measures are also useful to investors as such measures allow investors to evaluate our performance using the same metrics that our management uses to evaluate past performance and prospects for future performance. We do not consider these items to be reflective of our operating performance as they result from events and circumstances that are not a part of our core business. Additionally, non-GAAP measures are utilized as performance measures in certain management incentive compensation plans. Non-GAAP measures should not be considered as an alternative to revenue, operating profit, net income amounts or net cash provided by operating activities determined in accordance with GAAP and should be read in conjunction with their GAAP counterparts. Non-GAAP financial measures may not be comparable to Non-GAAP financial measures presented by other companies.
Forward-looking Statements
This release contains forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project," “model”, "predict," "intend," "plan," "believe," "potential," "may," "should,“ “vision” and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to information regarding: 2021 guidance, financial targets for 2022 and 2024 (including revenue, operating profit, adjusted EBITDA, and free cash flow) and drivers thereof, future shareholder return, expected future revenues from digital solutions and market trends.
Forward-looking information in this document is subject to known and unknown risks, uncertainties and contingencies, which are difficult to predict or quantify, and which could cause actual results, performance or achievements to differ materially from those that are anticipated. These risks, uncertainties and contingencies, many of which are beyond our control, include, but are not limited to: our ability to improve profitability and execute further cost and operational improvement and efficiencies in our core businesses; our ability to improve service levels and quality in our core businesses; market volatility and commodity price fluctuations; seasonality, pricing and other competitive industry factors; investment in information technology (“IT”) and its impact on revenue and profit growth; our ability to maintain an effective IT infrastructure and safeguard confidential information; our ability to effectively develop and implement solutions for our customers; risks associated with operating in foreign countries, including changing political, labor and economic conditions, regulatory issues (including the imposition of international sanctions, including by the
This list of risks, uncertainties and contingencies is not intended to be exhaustive. Additional factors that could cause our results to differ materially from those described in the forward looking statements can be found under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the period ended
Contact: Investor Relations
804.289.9709
Source: The Brink’s Company
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