Brembo Group’s revenues for the first quarter of 2011 continued to grow sharply to €312,2 million, up 27,9%. All the Group’s segments of operation contributed to the growth: car applications rose by 30,2%, motorbikes by 22,0% and commercial vehicles by 15.8%. The racing and passive safety segments marked a sharp contrast to the previous months increasing by 38,0% and 52,4%, respectively.

At geographical level, growth is also evenly distributed, both in the Group's traditional and new markets. Germany, which continues to be Brembo's main target market, increased 34.8%, Italy 21.8%, the UK 27.6% and France 55.8%. In the Far East area, China grew 26.9%, India 55.7% and, after several sluggish months, Japan started again to grow sharply by 109.7%. With reference to the Americas, both the NAFTA countries and Brazil grew (+16.6% and +24.8%, respectively).

EBITDA for the quarter was €38.5 million (12.3% of sales) compared to €31.0 million in the first quarter of 2010 (12.7% of sales). After depreciation and amortisation of €18.8 million (€17.2 million for the same period of the previous year), EBIT was €19.7 million compared to €13.8 million for the previous year.

Net interest expenses were €2.6 million (€3.6 million in the first quarter of 2010), broken down as follows: exchange rate gains virtually null (exchange losses of €1.7 million in the first quarter of 2010); interest expenses of €2.6 million (€1.9 million in the same period of the previous year).

Pretax profit amounted to €16.9 million (5.4% of sales), compared to €9.7 million (4.0% of sales) in the first quarter of 2010. Based on tax rates applicable for the year under current tax regulations, estimated taxation amounted to €5.5 million (€3.2 million in the first quarter of 2010). Tax rate was 32.7%, compared to 33.0% of the first quarter of 2010. Net profit for the quarter amounted to €11.2 million, up 68.6%.

Net debt at 31 March 2011 was €263.7 million, compared to €246.7 million at 31 December 2010 and €269.8 million at 31 March 2010. The increase compared to 31 December 2010 was €17.0 million, mainly as a result of the launch of the new production investments already described several times and of the net working capital absorption connected with the revenue increase.