Brembo financial results for the third quarter of 2023

Results at 30 September 2023:

• Revenues at €2,919 million (+7%; +8.8% on a like-for-like exchange rate basis)
• EBITDA at €500.2 million (EBITDA margin: 17.1%); EBIT at €312.8 million (EBIT margin: 10.7%) 
• Net investments and increases in leased assets at €252.4 million
• Net financial debt at €454.1 million (€282.4 million prior to the application of IFRS 16), down €176.6 million compared to 30 September 2022

Executive Chairman Matteo Tiraboschi stated: “The results for the first nine months of 2023, approved today by the Board of Directors, reflect Brembo’s uptrend in an increasingly challenging global context. Despite the general and marked worsening of the macroeconomic and geopolitical scenario, Brembo’s revenues neared €3 billion, up 7%, consolidating the already significant results reported in the first nine months of 2022. The Company confirms its ability to generate positive cash flows and reducing debt, while forging ahead with its ambitious investment plans. We continue to focus on innovating our solutions and, thanks to our customers’ constant appreciation, we look to the future with confidence, passion and determination.”