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CURNO, Italy – Brembo reported positive results for the first quarter of 2021 with revenues of €675 million – up 106 percent when compared to the same period of 2020 – and net profits of €61.4 million – up 17.2 percent when compared to Q1 2020.
On a like-for-like exchange rate and consolidation basis, as a result of the inclusion into the consolidation scope of the Danish company SBS Friction, acquired effective 1 January 2021 — the revenue increase was 20.2 percent.
Compared to the first quarter of 2019 — a more realistic comparison in light of the effects of the Covid-19 pandemic — revenues for the first quarter of 2021 grew by 1.2 percent.
Brembo Chairman Alberto Bombassei stated: “We have begun Brembo’s 60th year with particularly encouraging results. The figures for the first quarter of 2021 approved by the Board of Directors today indicate a robust recovery and point to a continuation of the trend witnessed in the final three months of 2020.
“Never before in Brembo’s history had we seen revenues this high in the first quarter, up not only on the same period of 2020 but also, and above all, on 2019. Our results were driven by the positive performance of all segments and geographical areas in which we operate. Although the market scenario continues to be marked by uncertainties, these results allow us to look to the coming months with confidence.
We remain focused on the innovation of our solutions thanks to an increasingly integrated and sustainability-oriented product portfolio which has been expanded through the acquisition of SBS Friction in Denmark and will be further enhanced by the recently announced acquisition of J.Juan in Spain.”
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In the reporting quarter, all segments in which the Group operates reported growth: the car segment rose by 13.1 percent, motorbike applications by 40.5 percent (+33.4 percent on a like-for-like consolidation basis), applications for commercial vehicles by 31.6 percent and those for racing vehicles by 3.3 percent compared to the same quarter of 2020.
At geographical level, sales increased by 20.9 percent in Italy, by 6.1 percent in Germany, by 27.6 percent in France and by 6.2 percent in the United Kingdom (+8.0 percent on a like-for-like exchange rate basis).
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India grew by 31.2 percent (+44.3 percent on a like-for-like exchange rate basis), China by 97.4 percent (+100.9 percent on a like-for-like exchange rate basis; +39.6 percent compared to the first quarter of 2019) and Japan by 20.0 percent (+20.9 percent on a like-for-like exchange rate basis). The North American market (U.S., Mexico and Canada) rose by 5.9 percent (+14.4 percent on a like-for-like exchange rate basis), whereas the South American market (Brazil and Argentina) declined by 21.1 percent, but with a 3.3 percent increase on a like-for-like exchange rate basis.
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