The Brink's Company reported a revenue increase of 2.8% for the fiscal year ending December 31, 2024, reaching $5.0 billion compared to $4.9 billion in 2023. The company's operating profit also rose by 6.5% to $453 million, resulting in an operating profit margin of 9.0%, up from 8.7% the previous year. However, net income attributable to Brink's shareholders increased significantly to $161.8 million, a substantial rise from $86 million in 2023, reflecting a diluted earnings per share of $3.61, compared to $1.83 in the prior year.
The company experienced notable changes in its financial performance, with a 12% organic revenue growth primarily driven by inflation-based price increases and growth in its ATM Managed Services (AMS) and Digital Retail Solutions (DRS) segments. However, this growth was partially offset by unfavorable currency exchange impacts, particularly from the Argentine peso, which negatively affected revenues by approximately $487.8 million. The company also reported a 21% increase in selling, general, and administrative expenses, attributed to higher labor costs and expenses related to ongoing investigations by the U.S. Department of Justice and the Financial Crimes Enforcement Network.
Strategically, Brink's made three acquisitions in 2024 across its North America, Latin America, and Europe segments, totaling approximately $27 million. The company also continued to implement its 2022 Global Restructuring Plan, which recognized $34 million in charges, with actions largely completed by the end of 2024. The company’s workforce consisted of approximately 68,100 employees, with 88% based outside the United States, reflecting its extensive global operations.
Operationally, Brink's reported a total of 1,300 facilities and 16,100 vehicles, serving customers in over 100 countries. The company emphasized its commitment to enhancing customer experience and operational efficiency through its four strategic pillars: Partner for Customer Success, Innovate to Grow, Run the Business Better, and Win as Team Brink's. Looking ahead, Brink's anticipates continued revenue growth driven by its strategic initiatives and the ongoing demand for cash and valuables management services, despite potential challenges from market conditions and currency fluctuations.
About BRINKS CO
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