Company: BCO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0000078890-25-000154
Chunk: 34

Company: BRINKS CO
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 34
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36

Analysis of Segment Results: First Quarter 2025 versus First Quarter 2024

North America

Revenues increased 3% ($12.1 million) due to a 2% organic increase ($9.9 million) and the impact of acquisitions ($4.3 million), partially offset by the unfavorable impact of currency exchange rates ($2.1 million). Organic revenue increased primarily due to price increases and growth in AMS and DRS, as well as BGS revenue. Operating profit increased 10% ($4.7 million) due to a 9% organic increase ($4.5 million). The organic increase was primarily driven by higher revenue, the net impact of revenue mix, and due to productivity initiatives.

Latin America

Revenues decreased 8% ($27.1 million) due to the unfavorable impact of currency exchange rates ($54.4 million) primarily from the Mexican peso, Argentine peso, and Brazilian real, partially offset by a 7% organic increase ($24.8 million) and the impact of acquisitions ($2.5 million). The organic increase was primarily driven by inflation-based price increases across the segment with a majority of the impact from Argentina, as well as growth in AMS and DRS revenue. Operating profit decreased 14% ($9.1 million) primarily due to the unfavorable impact of currency exchange rates ($10.4 million), partially offset by a 2% organic increase ($1.4 million). The organic increase was driven by inflation-based price increases which outpaced the impact of labor and other cost increases.

Europe

Revenues increased 3% ($7.7 million) primarily due to an 5% organic increase ($15.5 million) partially offset by the unfavorable impact of currency exchange rates ($8.2 million). Organic revenue increased primarily due the growth of AMS and DRS revenue. Operating profit decreased 3% ($0.7 million) primarily due to the unfavorable impact of currency exchange rates ($0.8 million) and the impact of acquisitions ($0.2 million), partially offset by a 1% organic increase ($0.3 million) driven by higher revenue outpacing the impact of labor and other cost increases across the segment and the mix benefit of higher AMS and DRS revenue.

Rest of World

Revenues increased 9% ($17.9 million) due to a 9% organic increase ($19.0 million), partially offset by the unfavorable impact of currency exchange rates ($1.1 million). Organic growth in the segment was primarily due