Is This Brink’s Company’s Response To Activist Jeff Smith?

Page 82 of 90

82 Margin Margin Full First Half 2012 2013 2014 2014 2015 Margin: U.S. 4.5% 1.8% 3.1% 2.0% 4.0% France 7.8% 8.6% 7.6% 4.4% 5.1% Mexico 4.5% 6.3% 2.5% 1.4% 7.3% Brazil 11.0% 11.6% 9.4% 8.5% 5.8% Canada 5.0% 5.5% 7.1% 5.2% 5.2% Largest 5 Markets 6.4% 6.2% 5.5% 3.8% 5.2% Latin America 13.0% 14.6% 13.2% 11.7% 19.6% EMEA 9.0% 8.7% 9.4% 7.7% 7.6% Asia 11.8% 15.6% 16.5% 15.4% 16.0% Global Markets 10.9% 11.8% 11.7% 10.1% 13.4% Payment Services 3.0% 1.8% (5.1%) (1.1%) (7.1%) Corporate Expenses (2.6%) (3.5%) (3.5%) (3.0%) (2.7%) Operating profit – non-GAAP 5.2% 4.4% 3.7% 2.7% 4.7% Other items not allocated to segments (0.6%) (0.1%) (4.5%) (6.3%) (4.8%) Operating profit (loss) GAAP 4.5% 4.3% (0.8%) (3.6%) (0.1%) The Brink’s Company and subsidiaries Segment Results: 2012, 2013, 2014 and 2015 (Unaudited) (In millions, except for percentages)
Page 82 of 90