Economic Results
| (euro million) | 2019 | 2020 | 2021 | 2022 | 2023 | % 23/22 |
|---|---|---|---|---|---|---|
| Sales | 2,591.7 | 2,208.6 | 2,777.6 | 3,629.0 | 3,849.2 | +6.1% |
Gross operating income % on sales | 515.2
| 388.7
| 502.7
| 625.2
| 665.8
| +6.5% |
| Net operating income % on sales | 318.5 12.3% | 181.1
| 288.0 10.4% | 382.8 10.5% | 414.1 10.8% | +8.2% |
Result before taxes % on sales | 307.7 11.9% | 156.0 7.1% | 286.8 10.3% | 382.2 10.5% | 392.0 10.2% | +2.6% |
Net Result
| 231.3 8.9% | 136.5 6.2% | 215.5 7.8% | 292.8 8.1% | 305.0 7.9% | +4.2% |
Main Ratios
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Net operating income / sales | 12.3% | 8.2% | 10.4% | 10.5% | 10.8% |
| Result before taxes / sales | 11.9% | 7.1% | 10.3% | 10.5% | 10.2% |
| Net Investments / sales | 8.1% | 6.8% | 7.6% | 7.8% | 10.7% |
| Net financial debt / Equity | 24.9% | 26.0% | 22.9% | 25.8% | 21.7% |
| Adjusted net interest expense** / sales | 0.6% | 0.8% | 0.3% | 0.4% | 0.5% |
| Adjusted net interest expense** / net operating income | 4.5% | 9.4% | 3.4% | 3.4% | 4.9% |
| R.O.I. | 18.1% | 9.6% | 12.9% | 15.5% | 16.0% |
| R.O.E. | 17.3% | 9.3% | 12.0% | 15.1% | 14.6% |
* This item does not include exchange gains and losses.
Personnel And Capital Expediture
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Employees at year-end (No.) | 10,868 | 11,039 | 12,225 | 12,956 | 13,654 |
| Turnover per employee (euro thousand) | 238.5 | 200.1 | 227.2 | 280.1 | 281.9 |
| Net Investments* (euro million) | 210.4 | 150.2 | 210.0 | 282.1 | 412.2 |
* Net investments in property, plant, equipment and intangible assets, calculated as the sum total of increases (net of decreases) of property, plant, equipment and intangible assets.
Financial Results
| (euro million) | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Net invested capital | 1,758.6 | 1,891.5 | 2,231.3 | 2,472.8 | 2,590.6 |
| Shareholders' equity | 1,388.0 | 1,481.0 | 1,796.1 | 1,947.0 | 2,099.4 |
| Net financial debt excluding IFRS 16 | 150.2 | 175.8 | 185.3 | 260.8 | 283.6 |
| Net financial debt | 346.2 | 384.7 | 411.8 | 502.0 | 454.8 |
Brembo Structure
The structure of the Brembo Group spans 15 countries across 3 continents, with 32 production sites and commercial offices, relying on the collaboration of over 16,000 people.
Governing Boards and Committees
Internal governance bodies and instruments in place serving to avoid risks in corporate decision making.
Risk Management
Effective risk management is a key factor in maintaining the Group’s value over time.