Brembo 2023 financial results

Results at 31 December 2023:

• Revenues at €3,849.2 million (+6.1%; +8.0% on a like-for-like exchange rate basis)
• EBITDA at €665.8 million (EBITDA margin: 17.3%); EBIT at €414.1 million (EBIT margin: 10.8%)
• Net investments and increases in leased assets at €432.9 million
• Net financial debt at €454.8 million (€283.6 million prior to the application of IFRS 16), down €47.2 million compared to 31 December 2022

Brembo Executive Chairman Matteo Tiraboschi stated: “Brembo closed 2023 confirming the Company’s uptrend. The results approved today by the Board of Directors recorded revenues exceeding €3.8 billion, with improving margins and, for the first time, net profit at over €300 million. Each of these indicators grew compared to the already significant 2022 figures. In absolute terms, these are the highest results ever in Brembo’s history. We reported an excellent cash generation, further reducing our debt. Investments amounted to an unprecedented level of over €430 million. We have entered the new year announcing the opening of our first production site in Thailand, aimed at seizing growth opportunities in the Southeast Asia region. At the same time, the Company is forging ahead with its digital evolution through the development of the Sensify intelligent braking system and the start of operations of Brembo Solutions, launched in 2023 to provide companies with AI solutions. Our ambition remains to be the leader in our industry and support our customers in the process of deep transformation of the automotive world.”