布林克 2024年度报告

Our Purpose & Values Together, we build partnerships tosecurecommerce We DriveCusmer Suces We Strive forExcelence WePrec We DoWha Righ We keep our peoplesafe, protect ourcustomers’ assets,and strive to securethe future through acommitment tosustainability. We deliver positiveresults bycontinuouslyimproving on theway we operate, thesolutions we build,and the services weprovide. We are passionateabout being a trustedpartner for themarketplace to createseamless andinnovative solutionsand exceptionalexperiences. We respect andvalue our diversebackgrounds andsucceed as oneinclusive team. We build trust byacting with integrity– we’re honest,reliable, and takeownership for howwe act. Our Strategy Win asTeam Brink’sUnleash the powerof our people Partner forCustomer SuccessDeliver securecommerce solutions InnovateDrive innovationthat createsvalueto Grow Run theBusiness BetterOperate withexcellence and efficiency Letter to Shareholders In 2024, Brink’s celebrated its 165thanniversary,which was a remarkable milestone thatunderscores the strength of Brink’s legacy andthe teamwork that defines us. This achievementis a testament to the trust we’ve built with ourcustomers and the enduring spirit of collaborationwithin our organization. As always, it is important to remember that ourfinancial results are built on a foundation of goodgovernance, ethical transparency and a strongcommitment to our Code of Ethics. Over the recentyears, we have bolstered our compliance efforts byinvesting in new technology, people and processesas we continually strive to build an industry-leading Ethics & Compliance program. As weturn our attention to 2025, we remain committedto delivering on our strategic pillars, drivingprofitable growth and improving capital efficiency,winning with customers and creating a betteremployee experience. We believe our commitmentto continuous improvement, innovation andcollaboration will continue to create value for all ourshareholders for years to come. During 2024, we strengthened our foundationthrough our recently renamed strategic pillars:Partner for Customer Success, Innovate to Grow,Run the Business Better and Win as Team Brink’s.These pillars continue to guide us in deliveringvalue to our customers, investors and employees. We also introduced a renewed purpose—Together,we build partnerships to secure commerce—andrefined our core values to guide our future actions.These principles reflect who we are today andwho we aspire to be as a global team workingtogether to inspire trust, create value and achieveexcellence. On behalf of the entire Brink’s team, thank you foryour continued support – we are looking forward to2025 and executing on the opportunities we see inthe global marketplace. Operationally, we continue to execute on ourstrategy. We are shifting our revenue to higher-margin ATM Managed Services, or AMS, andDigital Retail Solutions, or DRS. These businessesgrew 23% organically in 2024 and now represent24% of our total revenue mix. Supporting ourimproved revenue mix is a more consistent andstreamlined operating model as we continue toaccelerate the Brink’s Business System throughoutour operations. Improved service, qualityproductivity and the benefits of revenue mix drovea profit margin expansion of 40 basis-points year-over-year. Most importantly, margin improvement,capital efficiency and heightened managementfocus on working capital drove $400 million infree cash flow.* Following our capital allocationframework, we returned more than 60% of thatcash to our shareholders through our dividendpolicy and share repurchases. Mark Eubanks President andChief Executive Officer and Director * This non-GAAP financial measure is not presented in accordancewith GAAP. See pages 34 to 38 of the Annual Report on Form 10-Kfor the year ended December 31, 2024 for a reconciliation of freecash flow before dividends to the most directly comparable GAAPfinancial measure. Brink’s at a Glance As of December 31, 2024 2024 Revenue Mix($ in millions) Total RevenueAMS/DRS Organic GrowthCVM Organic GrowthAdjusted EBITDA Margin*Free Cash Flow*$5.012B23%9%18.2%$400M 2024PerformanceHighlights UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORMlO-K (Mark One) 00ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2024OR DTRANSITION REPORT PURSUANT TO SECTION 13 OR lS(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from_ _ _ _ _ _to_ _ _ _ __ Commission file number 001-09148 THE BRINK'S COMPANY (Exact name of registrant as specified in its charter) Virginia(State or other jurisdiction ofincorporation or organization)54-1317776(I.R.S. EmployerIdentification No.) P.O. Box 18100, 1801 Bayberry Court, Richmond, Virginia 23226-8100(Address of principal executive offices) (Zip Code)(804) 289-9600(Registrant's telephone number, including area code) Securities registered pursuant to