Brembo Q4 2020 Results

Q4 2020 results:

• Revenues at +4.5% compared to Q4 of the previous year (+7.8% on a like-for-like exchange rate basis)
• EBITDA at €121.6 million (EBITDA margin: 18.7%), EBIT at €70.5 million (EBIT margin: 10.9%)
• Net profit at €64.8 million (10.0% of sales)
• Net financial debt at €384.7 million (€175.8 million excluding the effect of IFRS 16), improving by €121.0 million compared to 30 September 2020

Results at 31 December 2020:

• Revenues at €2,208.6 million, -14.8% compared to the previous year (-13.3% on a like-for-like exchange rate basis)
• EBITDA at €388.7 million (EBITDA margin: 17.6%); EBIT at €181.1 million (EBIT margin: 8.2%)
• Net investments at €187.8 million

Chairman Alberto Bombassei stated: "The results approved today by Brembo’s Board of Directors are proof that the Company was managed effectively and carefully in a critical year, succeeding in protecting the Group’s profitability by rapidly and incisively containing the negative impact felt by the reference market. Brembo’s performance in 2020 bears witness to the Group's solidity and allows us to resume the distribution of dividends to our shareholders, after the suspension of last year due to the outbreak of the Covid-19 pandemic.

Our performance in the fourth quarter was particularly encouraging: our main markets of operation showed signs of a recovery, particularly China and India which grew at double-digit rates. Although the market scenario continues to be shaped by considerable uncertainty, Brembo began 2021 with solid fundamentals, determined to respond to the impact of the health crisis by continuing to protect the health of its employees and to support its clients in rising to the challenges and taking advantage of the opportunities offered by a rapidly changing automotive industry, thanks to innovative solutions in pursuit of increasingly sustainable mobility.”