Brembo

H1

2025

Results

29 July 2025

Results at 30 June 2025:

• Revenues at €1,881 million (-6.2% compared to H1 2024)
• EBITDA at €300.9 million (EBITDA margin: 16%); EBIT at €162.4 million (EBIT margin: 8.6%)
• Net investments at €199.8 million
• Net financial debt at €935.5 million, up €321.9 million compared to 30 June 2024 due to the Öhlins acquisition for €365.9 million

Brembo Executive Chairman Matteo Tiraboschi stated: “For the automotive industry, the first half of the year was in line with our expectations, proving complex at several levels. The geopolitical scenario remained strongly volatile, and the crisis of the automotive market persisted, particularly in Europe and North America. Within this context, our performance testifies to the solidity of Brembo’s business model. While original equipment applications remained under pressure, the aftermarket segment continued to report positive results, contributing to balancing our portfolio. We are continuing to invest in innovation, as confirmed by our recent entry into the high-performance bicycle segment thanks to our partnership with Specialized. Building on our long-term vision, we are confident that Brembo will be able to emerge stronger from this historical phase of our industry.”

Results at 30 June 2025

Brembo N.V.’s Board of Directors, chaired by Matteo Tiraboschi, examined and approved the Group’s results at 30 June 2025. 
 

Net consolidated revenues amounted to €1,881.0 million, down 6.2% compared to the first half of 2024.

In the reporting period, Brembo Group's car segment declined by 6.6%, that of motorbikes by 17.2% and the commercial vehicle segment by 15.3% compared to the same period of the previous year. The racing segment, which included the revenues from the newly acquired Öhlins, grew by 42.9%.

In the same period, at geographical level, sales remained essentially stable in Italy (+0.5%), whereas they decreased by 6.8% in Germany and rose by 2.2% in France and by 6.9% in the United Kingdom (6.1% on a like-for-like exchange rate basis). The North American market (USA, Mexico and Canada) declined by 10.7% (-9.8% on a like-for-like exchange rate basis), whereas the South American market (Brazil and Argentina) grew by 8.1% (+23.0% on a like-for-like exchange rate basis). Sales decreased by 7.8% in India (-3.7% on a like-for-like exchange basis) and by 6.2% in China (-5.0% on a like-for-like exchange rate basis).

At 30 June 2025, the cost of sales and other net operating costs amounted to €1,192.3 million, with a 63.4% ratio to sales, slightly down compared to the first half of the previous year (64.4% of sales, equal to €1,290.1 million).

Personnel expenses amounted to €393.1 million, with a 20.9% ratio to sales, increasing compared to the same period of the previous year (18.5% of sales, equal to €371.4 million). 
At 30 June 2025, Brembo People numbered 16,059, including the personnel of the newly acquired Öhlins (445), compared to 16,196 at 31 March 2025.

EBITDA amounted to €300.9 million (EBITDA margin: 16.0%) at 30 June 2025 compared to €351.4 million for H1 2024 (EBITDA margin: 17.5%).

EBIT amounted to €162.4 million (EBIT margin: 8.6%) compared to €218.8 million for H1 2024 (EBIT margin: 10.9%).

Net interest expense for the period totalled €21.5 million (net interest expense of €18.0 million at 30 June 2024) and included interest expense amounting to €16.9 million (€13.2 million at 30 June 2024) and net exchange losses of €4.6 million (€4.8 million at 30 June 2024).

Pre-tax profit was €141.1 million compared to €211.9 million at 30 June 2024.
Based on the tax rates applicable under current tax regulations in force in each country, estimated taxes amounted to €40.5 million (€53.7 million at 30 June 2024), with a tax rate of 28.7%.

The period ended with a net profit of €97.9 million compared to €156.3 million at 30 June 2024.

In the reporting period, net investments amounted to €199.8 million, of which €13.9 million due to increases in leased assets.

Net financial debt at 30 June 2025 was €935.5 million, up €321.9 million compared to 30 June 2024; net of the Öhlins acquisition, net financial debt declined by €44.0 million.

Outlook

In a scenario still marked by significant uncertainties and volatility, on a like-for-like exchange rate basis and including Öhlins, Brembo expects revenues in line with the previous year and an EBITDA margin above 16%, assuming a more stable geopolitical context in the second half of the year. Additionally, Brembo confirms investments at €400 million for the full year and a net debt of approximately €780 million.

 

For information:

Luca Di Leo - Chief Communications Officer

E-mail: luca.dileo@brembo.com 

Daniele Zibetti - Corporate Communications Manager

E-mail: daniele.zibetti@brembo.com 

Roberto Grazioli - Chief Investor Relations Officer
E-mail: roberto.grazioli@brembo.com

Laura Panseri - Investor Relations Senior Manager
E-mail: laura.panseri@brembo.com