Source: Brembo announcement
STEZZANO, Italy – Brembo yesterday announced its first-half 2022 financial results, providing the following information:
Brembo Executive Chairman Matteo Tiraboschi stated: “The significant H1 results approved today by the Board of Directors are the outcome of a long-term method and strategy adopted by the whole Brembo team, which has shown strong commitment even in such a complex context, thereby ensuring performance continuity in line with the first three months of the year. Our Company continues to focus on providing customers with the utmost service quality and on innovating our solutions. This direction is actually reflected in the recently announced joint venture with a leading group in the production of high-tech braking components — a transaction that strengthens our position in an important segment for us such as the aftermarket.
“Although the constantly changing geopolitical and macroeconomic scenario requires us to be cautious, Brembo’s solid position, the significant results achieved so far and the encouraging signals we are receiving from our reference market let us look towards the rest of the year with confidence.”
H1 2022 results
Brembo’s Board of Directors, chaired by Matteo Tiraboschi, approved the Group’s half-year results as of June 30, 2022.
In the reporting period, net consolidated revenues amounted to €1,746.5 million, up 28.3 percent (+23.2 percent on a like-for-like exchange rate basis) compared to the first half of the previous year.
Following the acquisition of the Spanish J.Juan Group, effective Nov. 1, 2021, the consolidation scope changed; on a like-for-like consolidation basis, the increase was 24.4 percent. On a like-for-like exchange rate and consolidation basis, revenues rose by 19.3 percent compared to the same period of the previous year.
In the reporting period, the Group reported a very positive performance across all sectors in which it operates: the car segment rose by 27.6 percent, motorbike applications by 44.3 percent (+12.2 percent on a like-for-like consolidation basis), applications for commercial vehicles by 17.4 percent and those for racing vehicles by 24.2 percent compared to the first half of 2021.
To view the entire announcement, click HERE.