Italian braking manufacturer Brembo has released its latest financial results. It reported that compared to Q1 2018, revenues grew by 1.4% to €667.1 million (+0.1% on a like-for-like exchange rate basis).
Its net investments for the quarter amounted to €40.4 million, while its net financial debt is at €389.2 million (€212.9 million before IFRS 16 application)
Brembo’s Chairman Alberto Bombassei stated: “The results of the first part of this year, approved by the Board of Directors today, confirm that the Company is able to manage the uncertainties that are hanging over the global automotive market, largely owing to the strategic distribution of the Group’s industrial footprint and an increasingly diversified and innovative product portfolio. During a period of dramatic change in the automotive sector, Brembo remains firmly committed to constant innovation in its production processes, technologies and organisation.”
Brembo’s Executive Deputy Chairman Matteo Tiraboschi stated: “The figures for the first quarter of 2019 underline the continuity of our consistent efforts to achieve growth, solid fundamentals and ongoing profitability, as well as the Company’s intention to focus on performance over the long term.
“Once again, our investment, innovation and market positioning strategies proved successful and allow us to continue to look towards the future with optimism.”
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