Brembo financial results for the first quarter of 2020

Compared to Q1 2019:

• Revenues to €575.9 million (-13,7% or -13.3% on a like-for-like consolidation basis)
• EBITDA margin at 17.7% to €102.0 million; EBIT margin at 8.7% to €50.3 million
• Net investments for the quarter amounted to €39.5 million
• Net financial debt at €450.4 million (€254.7 million prior to the application of IFRS 16), up €61.2 million compared to 31 March 2019

Brembo Chairman Alberto Bombassei stated:

“Brembo's results for the first quarter of the year were impacted by the crisis triggered by a pandemic without equal in contemporary history.

In a context of global emergency, Brembo's reaction was based on four key drivers, and, of course, on ensuring the total safety of human capital that has faced this moment with a sense of responsibility:

• increasing innovation investments through new technologically advanced and eco-friendly products and services based on Artficial Intelligence (AI);
• keeping daily and constructive collaboration relationships with all the customers and suppliers worldwide;
• strengthening the Net Financial Position, through reduced characteristic investments and the suspension of dividends;
• a long-term, growth-oriented vision, also including M&As.

Although the sector where we operate is one of the most impacted by the general uncertainty, we are confident we will resume growth, with even greater strength and determination, in the medium/long-term.”