Brake maker Brembo's H1 core profit up 2.1% year-on-year, confirms outlook

Brembo NV

30/07/2024 12:05

July 30 (Reuters) - Italian premium brake maker Brembo
 BRBI.MI  posted on Tuesday an 2.1% yearly increase in
first-half core profit as revenues grew to over 2 billion euros
for the first time.
    Brembo's earnings before interest, taxes, depreciation and
amortization (EBITDA) stood at 351.4 million euros ($380.60
million) in the first six months of the year, while its net
profit came in 156.3 million euros, down 6.8% year-on-year.
    The Bergamo-based group - whose clients include automakers
such as Tesla, BMW, and Chinese EV giant BYD - reiterated its
guidance for 2024 of a moderate revenue increase with percentage
margins in line with 2023.
    
    ($1 = 0.9233 euros)

 (Reporting by Enrico Sciacovelli, editing by Cristina
Carlevaro)
 ((Enrico.Sciacovelli@thomsonreuters.com; +48587720309;))