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Our global network serves customers in more than 100 countries. We have controlling ownership interests in companies in 41 countries and agency relationships with companies in additional countries. We employ approximately 64,600 people and our operations include approximately 1,200 facilities and 13,600 vehicles"
More About Brinks (BCO)
The Brink’s Company is the global leader in total cash management, route-based 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 (including central banks), mints, jewelers and other commercial operations around the world. Our global network serves customers in more than 100 countries. We have controlling ownership interests in companies in 41 countries and agency relationships with companies in additional countries. We employ approximately 64,600 people and our operations include approximately 1,200 facilities and 13,600 vehicles
Mission And Vision Of Brinks
Our Mission
• Keep the use of cash as easy, secure and affordable as other payment methods for retailers. • Streamline cash management for financial institutions. • Provide consumers safe, private and convenient payment options in the digital age. • Protect, store and transport high-value assets in a changing world.
Our Strategy
Our strategy has three components: Accelerate Profitable Growth, Close the Gap, and Introduce Differentiated Services. It focuses on: delivering efficiency initiatives, implementing operational excellence, and increasing sales of existing services; continuing to grow by acquiring businesses in our core markets and in adjacent geographies and services; and, creating more value for current and new customers by providing a broader array of high-margin, cost-effective, technology-driven services. We will Accelerate Profitable Growth by:
We have opportunities to grow revenue in higher-margin lines of business such as money processing outsourcing, CompuSafe® services and recyclers, end-to-end ATM service and Brink’s Global Services. Our plan calls for growing revenue and account share with both large and small financial institutions, and increasing penetration of the large and underserved retail market through a strong technology and marketing foundation. We also have the financial flexibility to pursue accretive acquisitions in both core and adjacent markets. We will Close the Gap with operational excellence by:
The third component of our strategy – to Introduce Differentiated Services – is achieved by strengthening and leveraging our IT capabilities. Our IT strategy and systems will drive improved service levels and operational efficiencies. The actions taken to execute the components of our strategy include internal breakthrough initiatives such as more efficient vehicles, one-person crews, route optimization, telematics, device monitoring and management, and more effective IT processes leading to lower operating costs. We also have completed twelve business acquisitions in the last three years.
• Keep the use of cash as easy, secure and affordable as other payment methods for retailers. • Streamline cash management for financial institutions. • Provide consumers safe, private and convenient payment options in the digital age. • Protect, store and transport high-value assets in a changing world.
Our Strategy
Our strategy has three components: Accelerate Profitable Growth, Close the Gap, and Introduce Differentiated Services. It focuses on: delivering efficiency initiatives, implementing operational excellence, and increasing sales of existing services; continuing to grow by acquiring businesses in our core markets and in adjacent geographies and services; and, creating more value for current and new customers by providing a broader array of high-margin, cost-effective, technology-driven services. We will Accelerate Profitable Growth by:
- Growing high-value services
- Growing account share with existing customers
- Increasing our focus on smaller financial institutions
- Penetrating the large, unvended retail market
- Exploring core and adjacent acquisition opportunities
We have opportunities to grow revenue in higher-margin lines of business such as money processing outsourcing, CompuSafe® services and recyclers, end-to-end ATM service and Brink’s Global Services. Our plan calls for growing revenue and account share with both large and small financial institutions, and increasing penetration of the large and underserved retail market through a strong technology and marketing foundation. We also have the financial flexibility to pursue accretive acquisitions in both core and adjacent markets. We will Close the Gap with operational excellence by:
- Exceeding customer expectations • Leading our industry in safety and security
- Continuing to improve productivity in fleet, money processing and sales We are on track in our efforts to improve internal productivity, optimize cost and achieve industry-leading margins. We will Introduce Differentiated Services through:
- Leveraging uniform, best-in-class global technology base for logistics and operating systems
- Offering end-to-end cash supply chain managed services
- Launching a customer portal and app to support value-added, fee-based services
The third component of our strategy – to Introduce Differentiated Services – is achieved by strengthening and leveraging our IT capabilities. Our IT strategy and systems will drive improved service levels and operational efficiencies. The actions taken to execute the components of our strategy include internal breakthrough initiatives such as more efficient vehicles, one-person crews, route optimization, telematics, device monitoring and management, and more effective IT processes leading to lower operating costs. We also have completed twelve business acquisitions in the last three years.
Services Provided By Brinks
We design customized services to meet the cash and valuables supply chain needs of our customers. We enter into contracts with our customers to establish pricing and other terms. Cash-in-transit and ATM contracts usually cover an initial term of at least one year and in many cases one to three years, and generally remain in effect thereafter until canceled by either party. Contracts for cash management services are typically longer. Following are descriptions of our service offerings:
Core Services (53% of total revenues in 2019)
Cash-in-transit ("CIT") and ATM services are core services we provide to customers throughout the world. We charge customers per service performed or based on the value of goods transported. Revenues are affected by the level of economic activity in various markets as well as the volume of business for specific customers. Core services generated approximately $2.0 billion of revenues in 2019 ($1.7 billion in 2018 and $1.6 billion in 2017).
Cash-in-transit services – Serving customers since 1859, our success in CIT is driven by a combination of rigorous security practices, high-quality customer service, risk management and logistics expertise. Cash-in-transit services generally include the secure transportation of:
We manage approximately 113,100 ATMs worldwide. We provide customers who own and operate ATMs a variety of service options. Basic ATM management services include cash replenishment and first and second line maintenance. We also provide comprehensive services for ATM management including cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation services, and first and second line maintenance.
High-Value Services (43% of total revenues in 2019)
Our Core Services, combined with our brand and global infrastructure, provide a broad platform from which we offer additional high-value services, which generated approximately $1.6 billion of revenues in 2019 ($1.6 billion in 2018 and $1.5 billion in 2017).
Global services - Brink’s Global Services ("BGS") is the leading global provider of secure transport of highly-valued commodities including diamonds, jewelry, precious metals, securities, banknotes, currency, high-tech devices, electronics and pharmaceuticals. Our specialized diamond and jewelry operations have offices in the world’s major diamond and jewelry centers. Serving customers in more than 100 countries, BGS provides secure transportation services including pick-up, packaging, customs clearance, secure vault storage and inventory management. BGS uses a combination of armored vehicles and secure air and sea transportation.
Cash management services - We offer a variety of cash management services, depending on customers’ unique needs. These include:
Retail and bank customers use Brink’s to count and reconcile coins and currency, prepare bank deposit information and replenish coins and currency in specific denominations.
Other Security Services (4% of total revenues in 2019)
Guarding – We protect airports, offices, warehouses, stores, and public venues with or without electronic surveillance, access control, fire prevention and trained patrolling personnel. Other security services generated approximately $0.1 billion of revenues in 2019 ($0.2 billion in 2018 and 2017). We offer security and guarding services in Luxembourg, Greece and Brazil. A portion of this business involves long-term contracts related primarily to security services at airports and embassies. Generally, guarding contracts are for a one-year period, and the majority of contracts are extended.
Commercial security systems – We provide commercial security system services in designated markets in Europe. Our security system design and installation services include alarms, motion detectors, closed-circuit televisions, digital video recorders, and access control systems, including card and biometric readers, electronic locks, and turnstiles. We may also provide monitoring services after systems have been installed.
Core Services (53% of total revenues in 2019)
Cash-in-transit ("CIT") and ATM services are core services we provide to customers throughout the world. We charge customers per service performed or based on the value of goods transported. Revenues are affected by the level of economic activity in various markets as well as the volume of business for specific customers. Core services generated approximately $2.0 billion of revenues in 2019 ($1.7 billion in 2018 and $1.6 billion in 2017).
Cash-in-transit services – Serving customers since 1859, our success in CIT is driven by a combination of rigorous security practices, high-quality customer service, risk management and logistics expertise. Cash-in-transit services generally include the secure transportation of:
- cash between 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
- new currency, coins, bullion and precious metals for central banks and other customers ATM services
We manage approximately 113,100 ATMs worldwide. We provide customers who own and operate ATMs a variety of service options. Basic ATM management services include cash replenishment and first and second line maintenance. We also provide comprehensive services for ATM management including cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation services, and first and second line maintenance.
High-Value Services (43% of total revenues in 2019)
Our Core Services, combined with our brand and global infrastructure, provide a broad platform from which we offer additional high-value services, which generated approximately $1.6 billion of revenues in 2019 ($1.6 billion in 2018 and $1.5 billion in 2017).
Global services - Brink’s Global Services ("BGS") is the leading global provider of secure transport of highly-valued commodities including diamonds, jewelry, precious metals, securities, banknotes, currency, high-tech devices, electronics and pharmaceuticals. Our specialized diamond and jewelry operations have offices in the world’s major diamond and jewelry centers. Serving customers in more than 100 countries, BGS provides secure transportation services including pick-up, packaging, customs clearance, secure vault storage and inventory management. BGS uses a combination of armored vehicles and secure air and sea transportation.
Cash management services - We offer 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.) and other cash management services
- services related to deploying and servicing “intelligent” safes and safe control devices, including our patented CompuSafe® service
- check imaging services Other cash management services include cashier balancing, counterfeit detection, account consolidation and electronic reporting.
Retail and bank customers use Brink’s to count and reconcile coins and currency, prepare bank deposit information and replenish coins and currency in specific denominations.
Other Security Services (4% of total revenues in 2019)
Guarding – We protect airports, offices, warehouses, stores, and public venues with or without electronic surveillance, access control, fire prevention and trained patrolling personnel. Other security services generated approximately $0.1 billion of revenues in 2019 ($0.2 billion in 2018 and 2017). We offer security and guarding services in Luxembourg, Greece and Brazil. A portion of this business involves long-term contracts related primarily to security services at airports and embassies. Generally, guarding contracts are for a one-year period, and the majority of contracts are extended.
Commercial security systems – We provide commercial security system services in designated markets in Europe. Our security system design and installation services include alarms, motion detectors, closed-circuit televisions, digital video recorders, and access control systems, including card and biometric readers, electronic locks, and turnstiles. We may also provide monitoring services after systems have been installed.
Industry And Competition Of Brinks
We maintain a product development department, which develops new and improved menu items either in response to shifts in customer preferences or to create customer interest. We use a formal development and testing process, which includes guest research and in-store market tests to ensure products brought to market have a greater likelihood of meeting our goals. Menu-driven growth is built through three areas: enhancements to our current core menu offerings, the addition of new core menu offerings and limited time offer promotions we call seasonal events. 9 Our merchandising department selects and develops products for our gift shop. We are focused on driving retail sales by converting those customers who come to us for a restaurant visit. Our assortment includes core and seasonal themes. Our seasonal themes are designed to create interest and excitement in our stores by providing our guests with additional choices
Seasonality Of Brinks Earnings
Our revenues and earnings are typically higher in the second half of the year, particularly in the fourth quarter, due to generally increased activity associated with the holiday season.
Service Marks And Patents Of Brinks
BRINKS is a registered service mark in the U.S. and certain foreign countries. The BRINKS mark, name and related marks are of material significance to our business. We own patents for safes and related services, iDeposit and Daily Credit processes, including our integrated CompuSafe® service, which expire between 2022 and 2033. These patents provide us with important advantages. However, we are not dependent on the existence of these patents. We have 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.
Employees Of Brinks
At December 31, 2019, our company had approximately 64,600 full-time and contract employees, including approximately 11,600 employees in the United States (of whom approximately 600 were classified as part-time employees) and approximately 53,000 employees outside the United States. At December 31, 2019, Brink’s was a party to nine collective bargaining agreements in Canada with various local unions covering approximately 1,300 employees. The agreements have various expiration dates from 2020 to 2023. Outside of Canada, approximately 51% of employees are represented by trade union organizations. We believe our employee relations are satisfactory.
Brinks (BCO) stock price chart over the last 5 years
The image below shows the stock price chart of Brinks (BCO) over the last 5 years. And its been a good time for Brinks stockholders. Over the last 5 years the stock of Brinks (BCO) increased by 136%. No investor would say no to those kind of returns.
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