Brembo has recorded first-half revenue down 1.2% to EUR1.32bn (US$1.47bn).

“Despite reflecting the company’s ability to firmly maintain its market shares at a global level and even to gain further ground in some countries, Brembo’s results for the first half of 2019, as approved by the board, highlight the difficult situation that has continued to characterise the automotive sector for some time,” said Brembo chairman, Alberto Bombassei.

“It is precisely when the markets are struggling, that constant process and product innovation, which for Brembo has always been an absolute value, plays a fundamental role in ensuring competitive success.

“In light of this, Brembo will continue to invest in manufacturing technologies, as well as research and development and to rely on top professionals to help support our growth.”

For his part, Brembo executive deputy chairman, Matteo Tiraboschi added: “I think it is very important — above all at a time when markets are stagnant as they are today — to underline our essentially stable fundamentals and in particular our sound level of profitability thanks to the performances of our production plants even though they are not yet operating at full capacity.

“On the strength of its cutting-edge product portfolio, but also of geographical distribution strategies driven by a desire to actively collaborate with our customers wherever they operate.”