Brembo 1Q sales and profits soar
Leading brake manufacturer Brembo has posted first quarter 2013 net consolidated revenues of 371.9 million euros, up 6.3 per cent compared to the first quarter of the previous year. Pre-tax profits grew even faster. EBITDA amounted to 47.3 million euros (12.7 per cent of revenues), up 10.2 per cent compared to first quarter of previous year. Meanwhile EBIT amounted to 26.1 million euros (7 per cent of revenues), up 9.3 per cent compared to the first quarter of 2012.
The sectors that most contributed to first quarter revenues were car applications, up 13.3 per cent compared to the same period of 2012 and motorbike applications, up 3 per cent. According to the company, the latter figure was especially positive considering the sharp decline in motorbike registrations in Europe during in the reporting period.
Sales to commercial vehicles decreased by 11.9 per cent compared to the first quarter of 2012. Racing applications also showed a negative trend in the first quarter of 2013, down by 6.3 per cent compared to 2012, due to the decision of some teams in major championships to postpone purchases of components.
At geographical level, Germany, which continues to be Brembo Group’s main market, showed an increase of 14.5 per cent, followed by the North American market, up by 17.8 per cent. However, the fastest growth was in China where sales grew 50.2 per cent compared to the previous year.
But it wasn’t all rosy. France and Italy dropped by 21.3 per cent and 1.5 per cent, respectively. The exception was represented by the United Kingdom, which reported a 2.8 per cent increase, mainly due the positive results in sales of some major UK car makers. Both the Brazilian and Japanese markets shrank by 2.8 per cent and 13.9 per cent, respectively. Sales in India fell by 5.7 per cent.
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