Source : EuropeanMarkets
Chairman Alberto Bombassei:
“We are very satisfied with the results we have achieved and confident about the closing months of the year. In terms of geographical distribution, it is important to highlight that a significant contribution to the results for the first nine months of the year came from non-European markets such as North America - where Brembo is constantly growing and the United States have now solidly become the largest market of reference for the Group - and Asia, where Brembo reported an ongoing rise in India, Japan and China. With regards to the following periods, we are consciously prudent, also in light of the recent events in the German car market. I believe that the impact on the Italian components market of the events regarding the largest European automotive group can be significant yet not dramatic. For Brembo in particular, we can reasonably expect the possible consequences to be modest, considering that our products are targeted to a premium market.”
Third quarter highlights
Brembo Group’s net consolidated revenues for the third quarter of 2015 amounted to €510.2 million, up 16.3% compared to the same period of the previous year.
Amortisation, depreciation and impairment losses amounted to €28.8 million, increasing by 16.9% due to the sizeable investments of the previous periods.
EBIT amounted to €63.1 million (EBIT margin: 12.4%), up 53.7% compared to Q3 2014.
Cumulative results year to 30 September 2015
In the nine month-period ended at 30 September 2015, net consolidated revenues of the Brembo Group amounted to €1,549.1 million, up 15.6%. On a like-for-like exchange rate basis, revenues increased by 9.3%.
EBITDA for the period amounted to €266.8 million (EBITDA margin: 17.2%), up by 28.4% compared to the same period of 2014.
EBIT amounted to €184.4 million (EBIT margin: 11.9%), up 37.1% compared to the first nine months of 2014.
The period ended with a net profit of €132.1 million, up 40.0% compared to €94.4 million for the same period of the previous year.
Order book projections confirm that revenues and margins will show a good growth for the remainder of the year.
