The third quarter also makes you smile Brembo, with growing profits and revenues. Paradoxically, one of the queens of the car and motorcycle brake market is not braking at all; yet even in these parts there semiconductor crisis it made itself felt, influencing the results and consequently the financial statements.
President Alberto Bombassei he has declared: “The results show that the company has been able to generate growing revenues, doing better than the market. Fundamentals remain solid. However, after a robust first half, the impact of raw materials and the shortage of semiconductors is on the accounts, even if the demand for vehicles remains high“. The vice president, Matteo Tiraboschi, goes into more detail, talking about a complicated moment on the Chinese market: «it was slowed down by some micro-lockdowns that made us lose efficiency. Until June we had no problems with the chips being positioned on the top of the range. But the shortage will not end at the end of the year, it will accompany us at least for the entire first half of 2022. The question, however, is there: when the problem is solved, the market can face a growth season of 12-18 months“.
Brembo closed the first nine months of the year with a jump in revenues (+ 30.9%) and profit (+ 135%). The company achieved a net profit of 168.7 million euros, more than double compared to 71.7 million in the same period last year. Revenues rose to 2.04 billion, compared to 1.56 billion in the same period of 2020 and up by 3.6% compared to 2019. Revenues in the third quarter also increased, reaching 681 million (+11 , 9%). The profit of the group amounted to 41.7 million. The auto sector recorded a growth of 26.3%, that of motorcycles by 64%, commercial vehicles have experienced an increase of 35.3% and competitions have also improved, obtaining 29.6%.
“For the future, Brembo expects revenues to grow between 20% and 25% for 2021 while slightly reducing the estimated EBITDA between 18% and 19%. “We are following the trend of raw materials: this causes an increase in cost that we have not yet paid to customers and dilutes the margin”, says Tiraboschi“, Reports the newspaper La Stampa. It should be noted, among the opposing forces, growth, too the sharp increase in production costs for ferrous metals, energy and logistics.
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