About The Brink's

The Brink’s Company (Brink’s) provides cash and valuables management, digital retail solutions, and ATM managed services. The company’s customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations around the world. The company’s global network serves customers in more than 100 countries. The company has controlling ownership interests in companies in 53 countries and agency relationships with companies in additional countries. Segments The company manages its business in the following four segments: North America – operations in the U.S. and Canada, including the Brink’s Global Services (BGS) line of business, Latin America – operations in Latin American countries where the company has an ownership interest, including the BGS line of business, Europe – total operations in European countries that primarily provide services outside of the BGS line of business, and Rest of World – operations in the Middle East, Africa and Asia. This segment also includes total operations in European countries that primarily provide BGS services and BGS activity in Latin American countries where it does not have an ownership interest. Strategy Over the past several years, the company’s business has evolved significantly. The company has a much larger footprint and new digital capabilities. The company’s strategy is to grow Brink’s by providing a superior customer experience and driving continuous improvement. The key elements of the company’s strategy include placing customers at the center of everything it does and understanding their current and future needs to better define its value proposition; leveraging technology to drive product and business innovation to maintain its competitive advantage and increase revenue; sharing infrastructure and best practices across its operations to increase scale and profitability; and establishing a workplace and employer brand that attracts, develops, and empowers diverse talent to ensure it has the best people and perspectives to achieve its goals. The company will prioritize Growth and Customer Loyalty by creating a consistent and exceptional experience across all service lines and deploying sales fundamentals and standardized processes. The company will pursue Innovation by using tech-enabled solutions to introduce new value propositions and optimize operations, challenging convention to differentiate its services and reshape its business. The company will achieve Operational Excellence by driving a continuous improvement culture focused on customer experience and by building scale by sharing activities, infrastructure and knowledge. The company will develop its Talent by attracting, developing, and empowering the best people, by strengthening core competencies across the company and by fostering an inclusive culture that inspires excellence. In its strategic plan, the company focuses on the implementation of the strategic pillars across its traditional (cash and valuables management) and emerging (Digital Retail Solutions and ATM Managed Services) service lines. Services The company designs customized services to meet the cash and valuables supply chain needs of its customers. The company enters into contracts with its customers to establish pricing and other terms. Contracts for cash management services, digital retail solutions, and ATM managed services are typically longer. Cash and Valuables Management (84% of total revenues in 2022) Cash and valuables management services are provided to customers throughout the world. Revenues are affected by the level of economic activity in various markets, as well as the volume of business for specific customers. Valuables management includes the transportation and storage of banknotes, precious metals and other valuables across the world. Cash-In-Transit Services – Cash-in-transit services include the secure transportation of cash between retail businesses and financial institutions, such as banks and credit unions; cash, securities and other valuables between commercial banks, central banks and investment banking and brokerage firms; and new currency, coins, bullion and precious metals for central banks and other customers. Basic ATM services – The company provides customers who own and operate ATMs a variety of service options. Basic ATM management services include cash replenishment, treasury management and first and second line maintenance. Brink's Global Services (BGS) – Serving customers in more than 100 countries, BGS is the leading global provider of secure transport of high-value commodities, including diamonds, jewelry, luxury goods, precious metals, securities, banknotes, currency, high-tech devices, electronics, pharmaceuticals and fine art. Additional BGS services include pick-up, packaging, customs clearance, secure storage and inventory management. BGS also has specialized diamond and jewelry operations in the world’s major diamond and jewelry centers. Cash Management Services – The company offers a variety of cash management services, depending on customers’ unique needs. These include money processing (e.g., counting, sorting, wrapping, checking condition of bills, etc.), check imaging services and other cash management services (e.g., cashier balancing, counterfeit detection, account consolidation and electronic reporting). Vaulting Services – Vaulting services combine cash-in-transit services, cash management services, vaulting and electronic reporting technologies to help banks expand into new markets while minimizing investment in vaults and branch facilities. In addition to providing secure storage, the company processes deposits, provides check imaging and reconciliation services, perform currency inventory management, process ATM replenishment orders and electronically transmit banking transactions. Other Services – Guarding services, commercial security systems services, and payment services. Digital Retail Solutions (DRS), and ATM Managed Services (AMS) (16% of total revenues in 2022) DRS and AMS are technology enabled services provided to customers throughout the world. Digital Retail Solutions – DRS includes services that facilitate faster access to cash deposits leveraging Brink’s tech-enabled sales and software platforms and enable enhanced customer analytics and visibility. DRS offers businesses of all sizes a cost-effective solution that simplifies cash acceptance and enables merchants to access their cash without visiting a bank. In addition, DRS allows more small and mid-size retailers to safely and affordably accept and receive cash quickly. DRS includes the company’s patented Brink’s Complete and CompuSafe services. ATM Managed Services – The company provides comprehensive services for ATM management beyond basic ATM services, including cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, and installation services. AMS provides an economical solution for financial institutions, retailers and independent ATM owners to outsource day-to-day operation of ATMs. For certain customers, the company takes ownership of ATM devices as part of its managed services offering. Competition The company’s largest multinational competitors are Loomis AB (Sweden); Prosegur, Compania de Seguridad, S.A. (Spain); and Garda World Security Corporation (Canada). Seasonality The company’s revenues and earnings are typically higher in the second half of the year (year ended December 31, 2022), particularly in the fourth quarter, due to generally increased activity associated with the holiday season. Service Mark and Patents BRINKS is a registered service mark in the U.S. and certain foreign countries. Brink's name and marks are of material significance to the company’s business. The company owns patents for safes, cash devices and related processes, including Brink’s Complete, CompuSafe, iDeposit, and Daily Credit. Brink's patents will expire between 2023 and 2040. The company has licensed the Brink’s name to a limited number of companies, including a company that provides residential smart home and home security services and a distributor of security products (padlocks, door hardware, etc.) to customers through major retail chains. Government Regulation The company’s permits and licensing requirements vary by jurisdictions based on the scope of business conducted and applicable laws and regulations. In addition, in the U.S., Brink’s Capital LLC has federally registered as a Money Services Business in anticipation of offering money transmission and payment services to customers. Business Acquisitions On October 3, 2022, the company acquired 100% of the capital stock of NoteMachine Limited and Testlink Services Limited. At the acquisition date, these two entities directly owned 100% of the ownership interests in three additional entities (collectively, the five entities are referred to as NoteMachine). NoteMachine is based in the United Kingdom and manages a portfolio of ATMs. History The company was founded in 1859. It was incorporated in 1930 under the laws of the state of Delaware. The company was formerly known as The Pittston Company and changed its name to The Brink's Company in 2003.