Brembo, revenues and profit grow
Happy start 2023 for Brembo . The group, a group from Bergamo, leader in the production of braking systems and listed on the Euronext Milan closed the first quarter con consolidated net revenues equal to 961.9 million euro, up by 12.2% compared to the first quarter of the previous year. All segments showed a positive trend: the automotive sector grew by 12.9%, motorcycle applications by 3%, those for commercial vehicles by 14% and racing by 23.4%. L’Ebitda for the quarter amounted to 168.3 million (17.5% of revenues), compared to 150.8 million in the first quarter of 2022 (17.6% of revenues). The quarter closes with a Net income of 76.8 million, which compares with 71.7 million in the same period of the previous year (+7.2%).
Double digit growth
“The results for the first quarter 2023, approved by the board of directors, show double-digit revenue growth compared to the first quarter of last year – commented the executive chairman Matteo Tiraboschi – The contribution came from all business segments, demonstrating how Brembo maintains its position as technological leadership in the reference market“. “In the context of an automotive sector undergoing profound transformation, we are investing to strengthen our industrial presence in the world – he added – In Mexico we are completing the doubling of our factory di Escobedo. In China we will expand the Nanjing site between production and research, while in Poland we will build a new technologically advanced foundry. Three important investments to contribute to our growth and consolidate our role as solution provider”.
Germany, France and North America
In detail, geographically, sales grow in Italy by 4%, in Germany by 26.8%, in France by 19.7%, in the United Kingdom by 2.4% (+3.1% at constant exchange rates), while China is in down 9.1% and the North American market (United States, Mexico and Canada) is up 14.1%. Net financial debt as of March 31st stood at 506.4 million, up by 4.4 million compared to last December 31st.
As far as forecasts are concerned, the order book “is confirmed to be solid at a global level also for the coming months”. The company expects that barring significant changes in the current macroeconomic and geopolitical context, revenues are expected to grow by around 10% for the current year and percentage margins in line with the previous year.