Brembo Q1 operating profit rises on record sales

By Thomson Reuters May 9, 2024 | 6:10 AM

(Reuters) – Italian premium brake maker Brembo posted on Thursday an 8.5% yearly increase in first-quarter operating profit as revenues grew to a record 1 billion euros in the quarter.

Brembo’s January-March operating profit (EBIT) stood at 112.8 million euros ($121.06 million), while its net profit marginally decreased to 75.2 million euros from 76.8 million euros.

The group said in a statement it sees for 2024 moderate revenue growth and margins in line with 2023.

($1 = 0.9318 euros)

(Reporting by Alessandro Parodi in Gdansk; Editing by Tomasz Janowski)