Brembo annual report 2018

Compared to 2017 results:

• Revenues grew by 7.2% to €2,640.0 million (+9.6% on a like-for-like exchange rate basis)
• EBITDA at €500.9 million (EBITDA margin: 19.0%), EBIT at €345.1 million (EBIT margin: 13.1%)
• Net profit was €238.3 million
• Net investments amounted to €285.6 million
• Net financial debt decreased significantly to €136.9 million
• Proposal to distribute an ordinary dividend of €0.22 per share

Chairman Alberto Bombassei stated: "Brembo's 2018 operating results approved today demonstrate — despite the severe uncertainty that began to weigh on the global automotive industry near year-end — the Group's ability to pursue its growth objectives thanks to its comprehensive planned investments in technology, processes, products and, above all, people. The determination to rise to the new challenges and constant changes we face in our business with new ideas — and the ability to turn them into best-in-class applications on ever tighter schedules — has always been at the heart of how business is done at Brembo and by all those who work with us worldwide. Our new production hubs — including our Nanjing plant, which is already operating and will be inaugurated less than a month from now — are scaling up to full production as planned. Within the framework of our local-based production approach, our facilities will ensure that we are able to meet the needs of our clients where they operate, while also retaining strong competitive adaptability against the background of the frequent changes in global economic and legislative scenarios. These are the sound foundations on which we have begun to build in order to face the current year with a vigilant, determined attitude, out of an awareness that we must take the unquestionably negative signs from the economy and international politics as a further driver of development."

Executive Deputy Chairman Matteo Tiraboschi stated: “Our 2018 results confirmed the effectiveness of the strategic growth plans that Brembo has conceived and implemented in recent years, as well as the consolidation and sustainability of its business. The Group's solidity is reflected in its fundamentals — among which I would like to emphasize organic growth (+9.6% increase in revenues on a like-for-like exchange rate basis) and solid cash generation — as well as in the positive production performances of our new investments in China, the United States, Poland and India. The investments we have made up to now and our constant product and process innovation — implemented to all the countries where the Group operates — allow us to face with determination the complex scenarios that are impacting the automotive industry."