Brembo reports 12% EBIT growth
Leading Italian brake maker Brembo reports that its revenues increased 10.1 per cent to 1,262.4 million euros in the first half of 2017. During the same period pre-tax profits (EBITDA) grew 12.8 per cent to 255.5 million euros. EBITDA margin was over 20 per cent.
Chairman Alberto Bombassei stated: “I believe that the good results reported for the first half of 2017 and approved today by the Board of Directors are particularly satisfying because they were achieved thanks to a dynamic across-the-board performance of the market segments and geographical areas. Beside the excellent performance of motorbike applications — a business that is growing sharply at global level, driven particularly by India, but back to healthy growth in Europe as well — mention should also be made of the results of the car applications sector, supported by a particularly innovative product portfolio and effective sales and production strategies. In geographical terms, the sustained growth in the Indian and Chinese markets is accompanied by growth in the United States, which still ranks as Brembo’s top world market, good progress in Italy and renewed signs of recovery in South America.”
Executive Deputy Chairman Matteo Tiraboschi added: “In the first half of 2017, we achieved a very healthy set of objectives, including the strengthening of our industrial footprint secured by the rapid progress of works on the new plants in China, Mexico and Poland. An analysis of the results confirms, on the one hand, a two-digit percentage increase in revenues. On the other hand, it is important to note the extraordinary EBITDA margin, above 20 per cent, also achieved thanks to the rapid start-up of plants in the USA and Mexico. Net financial debt remained in line with the first half of 2016, despite the substantial investments in production capacity. All this confirms once again the company’s excellent state of health and the effectiveness of our medium- and long-term strategies.”