Brembo financial results for the first half of 2018

Compared to H1 2017:

• Revenues grew by 6.1% to €1,339.7 million (+10.1% on a like-for-like exchange rate basis)
• EBITDA margin at 19.4% to €259.9 million; EBIT margin at 13.9% to €186.1 million
• Net investments amounted to €120.8 million
• Net financial debt at €263.1 million

Chairman Alberto Bombassei stated: “We wanted to begin the Board of Directors' session by remembering a man who had a deep impact on the global automotive market. For me, personally, Sergio Marchionne's death is the loss of a friend, as well as of an extraordinary manager.
Brembo’s results for the first six months of 2018 confirm its ability to compete on changing international markets. This encourages us to pursue our recently announced industrial initiatives with renewed enthusiasm. The new plants will help expand our Group’s global production capacity and ensure that we are increasingly better positioned to meet demand from our main clients for products with a rising level of innovative content.
Despite our satisfaction with these results, it is however essential for us to remain highly vigilant with regard to the development of trade tensions and the international geopolitical scenario.”

Executive Deputy Chairman Matteo Tiraboschi stated: “Among the positive elements that emerge from the results approved today, it is important to emphasise the good revenue growth, achieved despite the unfavourable currency scenario. This confirms Brembo’s ability to grasp business opportunities in the various markets and segments in which it operates.
I would also like to stress the significant cash generation attained, which made it possible to reduce our financial debt level compared to the previous reporting period, despite the significant investments undertaken and dividends paid during the first half of the year.
According to plan, the new plants in China, Poland and Mexico are being placed in full operation, which will be reached by the end of this year.”