financetom
Business
financetom
/
Business
/
Italy's Brembo posts stable margins in tough market, shares rise
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Italy's Brembo posts stable margins in tough market, shares rise
Jul 30, 2024 6:00 AM

(Reuters) - Brembo posted moderate gains in first-half core earnings and revenue on Tuesday despite a darker outlook for the automotive sector, boosting shares in the Italian premium brake maker.

Brembo's earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 2.1% to 351.4 million euros ($381 million) for the six months to June 30.

Its revenue rose 2.8% to top 2 billion euros for the first time and its EBITDA margin of 17.5% was broadly unchanged from 17.6% a year earlier.

The results show the "group's ability to ensure profitability despite the pressures of the harsh geopolitical and market situation," Executive Chairman Matteo Tiraboschi said in a statement.

Brembo's shares were up 3.8% as of 1150 GMT, reversing earlier losses.

The Bergamo-based group, whose clients include automakers such as Tesla, BMW, and Chinese EV giant BYD, reiterated its full-year forecasts for moderate revenue growth and stable margins.

($1 = 0.9233 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Foxconn says global presence to shield it from Trump tariffs
Foxconn says global presence to shield it from Trump tariffs
Nov 27, 2024
TAIPEI, Nov 27 (Reuters) - Taiwan's Foxconn ( FXCOF ) said on Wednesday it expects any impact of new tariffs from U.S. President-elect Donald Trump to hit it less than its rivals, citing its global manufacturing footprint. Young Liu, chairman of the contract manufacturer and key Apple ( AAPL ) supplier, told reporters after a forum in Taipei that it...
Hyundai to recall over 226,000 vehicles in US over rear view camera display concerns
Hyundai to recall over 226,000 vehicles in US over rear view camera display concerns
Nov 27, 2024
Nov 27 (Reuters) - Hyundai Motor ( HYMTF ) is recalling 226,118 vehicles in the U.S. over concerns the rear view camera image may fail to display, the National Highway Traffic Safety Administration said on Wednesday. ...
Pony AI Prices IPO
Pony AI Prices IPO
Nov 27, 2024
05:18 AM EST, 11/27/2024 (MT Newswires) -- Pony AI (PONY) said Wednesday it priced its initial public offering of 20 million American depositary shares, each representing one Class A ordinary share of the company, at $13 per ADS. The ADS have been approved for listing and are expected to start trading on the Nasdaq Global Select Market on Wednesday under...
Lithuania leans towards technical cause for DHL plane crash
Lithuania leans towards technical cause for DHL plane crash
Nov 27, 2024
VILNIUS, Nov 27 (Reuters) - Lithuania is leaning towards a technical cause for the crash on Monday of a DHL cargo plane as it came in to land at Vilnius airport, the country's National Crisis Management Center said on Wednesday. We are leaning toward the technical version, Vilmantas Vitkauskas, head of Lithuania's National Crisis Management Center told reporters in Vilnius....
Copyright 2023-2026 - www.financetom.com All Rights Reserved