Brembo reports 1H sales of 1.1468 billion, EBIT up 42%

Thursday 28th July 2016 | 0 Comments

 

Leading Italian brake manufacturer, Brembo has reported revenues of 1,146.8 million euros, up 10 per cent compared with the first half of 2015 (+12.2 per cent on a like-for-like exchange rate basis). During the same period, pre-tax profits (EBIT) grew +42.9 per cent to 173.3 million euros.

Chairman Alberto Bombassei stated: “The results achieved in the first six months of the year confirm the effectiveness of Brembo’s global expansion strategy. In fact, the Group continues to grow and strengthen its industrial footprint both in rapidly growing markets, such as China and India, and in the company’s main markets, such as North America and Europe. However, I would like to highlight that Italy continues to be key to Brembo’s plans. This is not only because our Research Centre, which is designing the future of the entire Group, is based in Italy, in the Kilometro Rosso Scientific and Technological Park, but also for the irreplaceable productions of the Curno and Mapello plants.

“Lastly, I would like to recall that in a few days’ time, construction work will start for the new manufacturing plant in Nanjing. Just two months from the finalisation of the acquisition of a 66 per cent stake in Asimco Meilian Braking Systems, the new Chinese plant is a further, tangible sign of our determination to grow in this strategic market, and to position as a top player in this geographical area as well….the Nanjing plant will be completed at a record and will be a centre of excellence in terms of process innovation and vertical integration.”

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Category: International News, Product News