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In a challenging 2024 for the automotive industry, particularly in Europe, Brembo maintained stable revenues of €3,840.6 million, up slightly by 0.1% on a like-for-like exchange rate basis from 2023. The Italian automotive giant weathered market difficulties with a resilient car segment, growing 1.4% due to a robust aftermarket, despite declines in commercial vehicles and racing sectors.
Growth shone in regions like the UK, India, China, and Japan, though Italy, France, and North America lagged. Brembo bolstered its strategic position by acquiring Öhlins, a suspension technology leader, partnering with Michelin for innovation, and opening a new plant in Thailand. Sustainability efforts advanced, with renewable energy use climbing to 83% and CO₂ emissions per cast tonne dropping 13.74%. The company proposed a steady €0.30 per share dividend and plans a share buy-back program, signaling confidence amid a tough year.
Key Highlights:
- Financials: Revenues at €3,840.6M; EBITDA at €661.1M (17.2% margin); Net profit at €262.6M.
- Dividend: Proposed at €0.30 per share, matching 2023.
- Strategic Moves: Acquired Öhlins; partnered with Michelin; launched Thailand plant.
- Sustainability: Renewable energy at 83%; CO₂ emissions cut by 13.74%; waste recycling at 93%.
- Shareholder Plans: Proposes share buy-back at April 29, 2025, General Shareholders’ Meeting.
- 2025 Outlook: Expects 5% revenue decline on like-for-like basis; anticipates stability with Öhlins and geopolitical calm.
Despite a turbulent year, Brembo’s adaptability shone through. The Öhlins acquisition, its largest ever, enhances its market edge, while the Michelin deal aims to elevate vehicle safety and comfort. The Thailand facility expands its global reach, supporting long-term growth. Financially, net investments hit €497.5 million, reflecting bold moves to secure future gains. Net financial debt fell by €94.4 million to €360.4 million, showing fiscal discipline.
Looking to 2025, Brembo braces for a revenue dip but expects Öhlins’ integration to offset losses if geopolitical tensions ease. Executive Chairman Matteo Tiraboschi emphasized resilience, stating, “Thanks to our ability to innovate, we face every challenge with courage and long-term vision.” This blend of stability, strategy, and sustainability positions Brembo to navigate ongoing industry headwinds with confidence.
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