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Ohlins Racing acquisition to finalise in early 2025

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Guided for FY EBITDA margin of 17%, flat revenue

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EBITDA little changed in 9M at 501 mln euros

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Shares up after results

(Recasts after chairman interview)

Nov 7 (Reuters) - Brembo's acquisition of suspension

technology manufacturer Ohlins Racing, its biggest ever, will

not prevent the Italian premium brake maker from assessing

further and larger M&A deals, its top executive said on

Thursday.

Brembo, which earlier on Thursday presented

broadly stable results for the first nine months of this year,

in October announced the $405 million cash purchase of

Swedish-based Ohlins in a deal expected to be finalised in early

2025.

Before that the company moved its legal headquarters to the

Netherlands to strengthen its loyalty share scheme and increase

its ability to capitalise on M&A opportunities.

Executive Chairman Matteo Tiraboschi said that after the

headquarters move, Brembo had all the tools needed for potential

M&A deals of any size, although it had no specific targets.

"We continue to carefully observe what happens on the

market. If we find opportunities that fit with Brembo, we don't

want to be constrained by the financial side of the deal,"

Tiraboschi told Reuters in a post-earnings interview.

Brembo, which is controlled by the Bombassei family with a

stake of around 70%, in the past said it was looking for

opportunities for an acquisition of "significant size", even as

big as the company itself.

FORECAST TRIMMED

The Bergamo-based company trimmed forecasts for its

full-year revenues and core profit margin only slightly, despite

ongoing "sever difficulties" faced by the wide automotive

industry.

Earlier on Thursday Nissan Motor said it would cut

9,000 jobs and 20% of its global manufacturing capacity, adding

to a similar cost-cutting move by European rival Volkswagen

and a string of profit warnings from automakers.

Brembo, whose clients include premium automakers such as

Tesla, BMW and Ferrari ( RACE ), guided for

a margin on its adjusted earnings before interest, tax,

depreciation and amortization (EBITDA) of 17% in 2024, versus a

previous forecast "in line" with that of 2023, when the margin

came in at 17.3%.

Its Milan-listed shares were up 2.6% by 1625 GMT.

Brembo also said its full-year revenue would be in line with

that of 2023, versus a previous forecast for a "moderate"

growth.

In the January-September period, its EBITDA amounted to

501.1 million euros ($540.8 million), from 500.2 million euros a

year earlier, with margin coming in at 17.1%.

($1 = 0.9266 euros)