Brembo, profit drops; annual revenue expected to be in line with 2023

(Alliance News) - Brembo NV reported Thursday that it made a net profit of EUR197.2 million for the first nine months of the year, down 15 percent from EUR231.1 million in the same period of 2023.

Revenues amounted to EUR2.93 billion, up from EUR2.91 billion in the same period of 2023. Automotive grew by 2.0 percent, partly due to the good performance of the parts segment while motorcycle applications dropped by 1.7 percent, commercial vehicle applications by 9.4 percent, and racing by 1.6 percent compared to the nine months of 2023.

Ebitda is in line with the year before, standing at EUR501.2 million from EUR500.2 million.

Ebit drops to EUR302.0 million from EUR312.8 million in the first nine months of 2023.

Net financial debt is EUR637.0 million from EUR454.8 million as of Dec. 31.

"Despite the fact that the geopolitical scenario and the current global automotive market environment show no signs of improvement," the statement reads, "Brembo expects to close the year with revenues in line with the previous year and an Ebitda margin of 17 percent. As for Net Financial Position, the Group expects EUR300 million at year-end, with net investments of EUR400 million.

Brembo gives up 3.3 percent to EUR9.13 per share.

By Chiara Bruschi, Alliance News reporter

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