The General Shareholders’ Meeting of Brembo

The General Shareholders’ Meeting of Brembo was held today and resolved on:

• the approval of the 2019 Financial Statements and the carrying forward of profit;
• the appointment of the Board of Directors and the Board of Statutory Auditors;
• the plan for the buy-back and disposal of own shares;
• the update of the By-laws in accordance with the recent provisions on gender quotas within the governing and control bodies of listed companies (Budget Law No. 160/2019);
• the approval of Section I of “Report on Remuneration Policy and Remuneration Paid for 2020”.

Approval of the Financial Statements and Allocation of Profit

The General Shareholders' Meeting of Brembo, held today under the chairmanship of Alberto Bombassei, approved the Financial Statements for the year ended 31 December 2019 and resolved to carry forward the 2019 profit of the Parent, Brembo S.p.A., net of the portion allocated to reserves.

Brembo Group’s revenues for 2019 amounted to €2,591.7 million, down 1.8% compared to the previous year (-1.3% on a like-for-like consolidation basis). As already announced, in 2019 EBITDA amounted to €515.2 million (EBITDA margin: 19.9%), EBIT to €318.5 million (EBIT margin: 12.3%) and net profit to €231.3 million.

The Parent Brembo S.p.A.’s net revenues for 2019 were €947.7 million, down 1.5% compared to the previous year.

The General Shareholders’ Meeting approved the following allocation of profit, which amounted to €179.2 million:

• €1.1 million to the reserve pursuant to Article 6(2) of Legislative Decree No. 38/2005;

• the remaining amount carried forward.