10 May 2024
10 May 2024
Italian premium brake maker Brembo has posted an 8.5% yearly increase in first quarter operating profit as revenues grew to a record EUR1bn.
Reuters said Brembo's January-March operating profit (EBIT) was EUR112.8m while net profit marginally decreased to EUR75.2m from EUR76.8m.
The group said in a statement cited by the news agency it saw for full year 2024 moderate revenue growth and margins in line with 2023.
A number of global companies had slowed their investments into autonomous driving
EBT margin was 11.4% versus 13.9% and above the >10% full year target.
The market had been in sharp decline since Daihatsu was ordered at the end of December to halt production
The deal followed a similar agreement signed last month with Malaysia’s Sime Darby group to distribute its vehicles in Hong Kong
Automaker achived double digit growth for both revenue and profits despite stable car deliveries
Merging industry-leading business intelligence & award-winning journalism, this is an unrivalled opportunity for engagement with B2B professionals across a network of 40+ leading media websites.
Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.
Give your business an edge with our leading industry insights.
