Brake maker Brembo trims core profit margin forecast

Brembo NV

07/11/2024 12:34

Nov 7 (Reuters) - Italian brake maker Brembo  BRBI.MI 
has trimmed its core profit margin projection for 2024 to 17%
from 17.3% on revenue expected to remain flat year on year, it
said after posting nine-month results on Thursday.
    The group, clients of which include premium automakers such
as Tesla  TSLA.O , BMW  BMWG.DE  and Ferrari  RACE.MI , reported
net profit of 197.2 million euros ($212.17 million) for the nine
months to Sept. 30, down 14.7% year on year, citing weakness in
the wider automotive market.
($1 = 0.9295 euros)

 (Reporting by Romolo Tosiani
Editing by David Goodman)
 ((Romolo.Tosiani@tr.com; X:@RomoloTosiani;))