Brembo Q1 Financial Performance 2024

Brembo reports a solid start to 2024, with Q1 revenues crossing the €1 billion mark, a first for the company in a single quarter. The results showcase a 4.4% increase in revenue to €1,004.6 million. Despite a challenging global market, Brembo continues to expand and invest in key markets, reinforcing its global presence and innovation in brake technology.

Key Highlights:

Revenue Increase: €1,004.6 million in Q1, up 4.4% from the previous year.
EBITDA Growth: Reached €176.8 million, with a margin of 17.6%.
Net Profit: Reported at €75.2 million.
Strategic Investments: Notably in Thailand for a new motorbike manufacturing plant.
Global Sales Expansion: Significant growth in India, China, and Japan.

Brembo’s performance in the first quarter of 2024 displayed resilience and growth across nearly all segments. The company saw car applications rise by 5.5%, motorbike applications increase by 2.0%, and racing applications surge by 6.3%. However, commercial vehicle applications saw a slight decrease of 1.1%.

Geographically, Brembo achieved growth in several key markets. Sales in Italy increased by 3.0%, in Germany by 5.4%, and in France by 3.6%. The UK market showed a robust increase of 18.2%. Notably, the Indian market grew by 22.3%, and China and Japan also posted strong gains.

Despite the increased revenues, the cost of sales and other operating costs were managed effectively, totaling €650.3 million, which is a lower percentage relative to sales compared to the previous year. Personnel expenses rose to €182.2 million, representing an 18.1% ratio to sales.

Matteo Tiraboschi, Brembo’s Executive Chairman, commented on the results: “Brembo began also 2024 with positive results, after the uptrend already reported for 2023. For the first time, we exceeded the €1 billion revenue threshold in just one quarter — a result driven by higher volumes in our key business segments and in the main markets in which we operate worldwide. We are continuing to invest so as to foster our Group’s global expansion strategy: in Thailand we are building our first production plant dedicated to motorbike manufacturers, thus laying the foundations for a further development of Brembo’s business in the Southeast Asia region. In an increasingly complex market context, we stand alongside our customers, developing innovative and sustainable solutions to successfully face the challenges that are shaping the future of the automotive sector.”

Looking ahead, Brembo remains cautious yet optimistic about the future, expecting to continue its trajectory of moderate revenue growth while maintaining stable profit margins akin to those seen in 2023. The strategic investments and expansions indicate Brembo’s commitment to maintaining a competitive edge in the evolving automotive industry.

Yes, sign me up!