Brembo’s 9-Month 2023: Turnover Grows, Debt Declines

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The geopolitical and macroeconomic scenarios are constantly changing, but Brembo feels safe from excessive disruption. The board of directors of the company chaired by Matteo Tiraboschi approved the group’s results as of 30 September this year. The main points are: growth in turnover to 2,919 million euros (+7%, +8.8% at constant exchange rates), EBITDA to 500.2 million (17.1% of revenues), EBIT to 312.8 million (10.7% of
revenues), net investments and increases in leased assets 252.4 million, net financial debt 454.1 million (282.4 million before IFRS16 application), down by 176.6 million compared to 30 September 2022.

A note from the Group underlines that in the period under review the car sector is growing by 7.9%, commercial vehicles are growing by 6.9% and competitions by 15.3% compared to the nine months of 2022; applications for motorcycles are decreasing
by 1.0%. At a geographical level, sales grew in Italy by 2.2%, in Germany by 13.8%, in France by 7.2% and in the United Kingdom by 1.3% (+0.5% at constant exchange rates) . The North American market (United States, Mexico and Canada) is growing by 7.5% (+9.3% at constant exchange rates), while the South American market (Brazil and Argentina) is growing by 30.6% (+29.6% at constant exchange rates). India grew by 6.8% (+15.6% at constant exchange rates), China fell by 5.3% (+1.9% at constant exchange rates), while Japan grew by 3.2% (+ 7.0% at constant exchange rates).

Matteo Tiraboschi commented: «The results of the first nine months of 2023, approved today by the Board of Directors, reflect Brembo’s growth trend in an increasingly challenging global context. Despite the general and significant worsening of the macroeconomic and geopolitical scenario, Brembo records revenues of almost 3 billion euros, an increase of 7%, consolidating the already significant results of the first nine months of 2022. The Company confirms its ability to generate cash flows cash positive, while reducing debt, while continuing with its ambitious investment programs.
We remain focused on the innovation of our solutions and, strengthened by the continuous appreciation of our customers, we look to the future with confidence, passion and determination”.

This article is originally published on bergamo.corriere.it

 

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