Brembo financial results for the first quarter of 2018

Compared to Q1 2017:

• Revenues grew by 4.0% to €657.9 million (+8.7% on a like-for-like exchange rate basis)
• EBITDA margin at 19.2% to €126.6 million; EBIT margin at 13.9% to €91.6 million
• Net investments for the quarter amounted to €45.9 million
• Net financial debt was €275.7 million, up €48.8 million compared to 31 March 2017

Chairman Alberto Bombassei stated: “The figures for Q1 2018, approved today by the Board of Directors, confirm that the Company kicked off the new year with dynamism and a strong order book, stimulated not only by the introduction of innovative products but above all by the production growth reported by our new plants located in strategic markets and geographical areas, such as the USA, Mexico, Europe and India. These promising results were accompanied by the first, significant signs of easing in commercial tensions between the United States and Europe as, a few days ago, U.S. President Donald Trump's government decided to extend the exemption from steel and aluminium tariffs for EU, to the benefit of the whole automotive industry.”

Executive Deputy Chairman Matteo Tiraboschi commented: “The results for the first three months of 2018 are reassuring from the standpoint of the Group’s global growth and solidity in terms of acquisition of market shares and productivity of our plants, most of which are already fully operational, and with a production capacity that the recently built plants will meet by the end of the year. The promising performance of our industrial fundamentals was however impacted by a markedly negative exchange rate effect, which nearly halved our revenue growth and is expected to persist throughout the year.”