Brembo Clears Major Financial Milestone in 2024
Brembo, the Italian brakes manufacturer, has announced that it has exceeded €1 billion in revenue for the first time in Q1 2024
The Italian brakes company Brembo has published its financial figures for the first quarter of 2024, in which it broke a major milestone for the first time.
Specifically, Brembo made more than €1 billion in revenue for the first time in its history, with a total revenue for Q1 2024 of €1,004.6 million. That equates to around £900 million, which is quite a lot for a company that’s all about getting things slowed down.
This marks a 4.4 per cent increase in revenue compared to Q1 2023, and Brembo’s pre-tax profit is up 0.6 per cent to €105.6 million (£90 million), too.
Brembo has become perhaps the most prominent brake manufacturer in the world, thanks to its supply of numerous F1 teams, and - for the last 14 years or so - the entire MotoGP grid. Being a major player in both the two- and four-wheeled worlds is not something that many companies can claim, and no doubt that has been a factor in Brembo’s success.
On the other hand, though, Brembo reported an increase in financial debt of €23.1 million £20 million) to €529.5 million (£450 million), and a 2.2 per cent reduction in net profit (profit after tax), which fell to €75.2 million (£65 million).
Brembo Executive Chairman Matteo Tiraboschi said: “Brembo began also 2024 with positive results, after the uptrend already reported for 2023. For the first time, we exceeded the €1 billion revenue threshold in just one quarter - a result driven by higher volumes in our key business segments and in the main markets in which we operate worldwide. We are continuing to invest so as to foster our Group’s global expansion strategy: in Thailand we are building our first production plant dedicated to motorbike manufacturers, thus laying the foundations for a further development of Brembo’s business in the Southeast Asia region.
“In an increasingly complex market context, we stand alongside our customers, developing innovative and sustainable solutions to successfully face the challenges that are shaping the future of the automotive sector.”
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