Brembo 2021 Financial Results

Results at 31 December 2021:

• Revenues at €2,777.6 million, +25.8% compared to the previous year (+26.2% on a like-for-like exchange rate basis; +25.0% on a like-for-like consolidation and exchange rate basis); +7.2% compared to 31 December 2019
• EBITDA at €502.7 million (EBITDA margin: 18.1%); EBIT at €288.0 million (EBIT margin: 10.4%)
• Net investments at €236.2 million
• Net financial debt decreased by €71.5 million compared to 30 September 2021

Executive Chairman Matteo Tiraboschi stated: “In light of the 2021 results, approved today by the Board of Directors, Brembo closed a challenging year on a positive note. The Company’s revenues exceeded also the 2019 levels and its profitability remained stable, despite a market context impacted by the negative effect of inflation on commodity prices and the shortage of semiconductors. All geographical areas and all segments in which Brembo operates contributed to this result. In particular, the finalisation of two acquisitions in 2021 — SBS Friction in Denmark and J.Juan in Spain — allowed us to complement our high-tech braking system range for the strategic motorbike market. These transactions, together with the inauguration of the first Brembo Inspiration Lab in the Silicon Valley, California, and the introduction of our new, intelligent braking system SENSIFY, confirmed Brembo’s global leadership and its attention to the needs of customers, central in a deeply changing sector. Although the market scenario and the geopolitical situation continue to be complex, we look at the new year with confidence thanks to the solid strategic path we have paved towards ongoing innovation of our solutions, in favour of digitalisation and sustainable development.”