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Source: Brembo announcement
STEZZANO, Italy — Brembo’s Board of Directors, chaired by Matteo Tiraboschi, met in mid-November and approved the Group’s results as of Sept. 30, 2022:
In the reporting period, net consolidated revenues amounted to €2,728.2 million, up 33.6 percent (+27.5 percent on a like-for-like exchange rate basis) compared to the first nine months of the previous year.
Brembo Chairman Matteo Tiraboschi stated: “The third quarter of 2022 closed very well for Brembo. In a persistently difficult macroeconomic scenario, the Company continued to record sharp growth in all geographical areas and segments of reference. Brembo’s revenues for the first nine months of the year neared the 2021 FY amount. Our strategies remain focused on Brembo’s medium and long-term development. This has led to the recent formation of Brembo Ventures, the Company’s venture capital unit specialising in more focused investments on technology startups that are able to accelerate the innovation of our solutions. Looking to the future, the very uncertain context which we are facing requires a necessary degree of caution. However, we are confident that Brembo’s capital and financial solidity will enable us to best face the challenges ahead.”
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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 29.8 percent. On a like-for-like exchange rate and consolidation basis, revenues rose by 23.7 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 33.3 percent, motorbike applications by 49.9 percent (+17.5 percent on a like-for-like consolidation basis), applications for commercial vehicles by 20.4 percent and those for racing vehicles by 28.3 percent compared to the first nine months of 2021.
At geographical level, sales rose 14.1 percent in Italy, 35.2 percent in Germany, 17.8 percent in France and 0.6 percent in the United Kingdom (+0.3 percent on a like-for-like exchange rate basis).
The North American market (USA, Mexico and Canada) grew by 53.0 percent (+38.0 percent on a like-for-like exchange rate basis) and the South American market (Brazil and Argentina) increased by 60.4 percent (+38.7 percent on a like-for-like exchange rate basis).
India grew by 44.7 percent (+35.4 percent on a like-for-like exchange rate basis) and China by 36.1% (+24.3 percent on a like-for-like exchange rate basis), while Japan decreased by 12.3 percent (-13.3 percent on a like-for-like exchange rate basis).
To view the entire announcement, click HERE.
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