The Board of Directors of Brembo chaired by Alberto Bombassei approved the Group’s results for the first half of 2011: Group’s consolidated revenues amounted to €632.7 million, up 19% compared to the same period of the previous year.

During the first half of 2011 all businesses showed a positive performance: growth was mainly driven by car applications (+15.6%), commercial vehicles (+31.5%) and motorbikes (+22.5%); the passive safety and the racing segments also posted good performances, increasing by 29% and 20%, respectively.

At geographical level, growth is also evenly distributed: Germany, the Brembo's number-one market (accounting for the 21.6% of total revenues) increased 19.7%, Italy 26.6%, the UK 22.8% and France 39.7%. The NAFTA area, the Group’s third reference market after Italy, accounting for 18.1% of total revenues for the period, increased 8.1%. Emerging markets continue to show significant increases in sales, specifically India grew by 36%, China 14.2% and Brazil 16.7%. Japan increased by 23.5%.

EBITDA for the first half was €81.1 million (12.8% of revenues), up 19.4% on the amount of €67.9 million in the first half of 2010 (12.8% of revenues). EBIT amounted to €42.9 million (6.8% of revenues), compared to €31.8 million for the first half of 2010 (6% of revenues), after depreciation and amortisation of €38.2 million (€36.1 million for the same period of 2010).

In the second quarter alone, revenues amounted to €320.5 million, up 11.5% compared to the same period of 2010. EBITDA amounted to €42.6 million (13.3% of revenues), up by 15.3% compared to the same period of 2010. EBIT was €23.2 million (7.2% of revenues). The quarter ended with a net profit of €13.5 million, up 12.6% compared to the same period of the previous year.

Net interest expenses amounted to €4.5 million, compared to €4.1 million in the first half of 2010.

Based on tax rates applicable for the year under current tax regulations, estimated taxation amounted to €12.6 million (€8.1 million in the first half of 2010). The tax rate for the period was 33.4%, compared to 30.5% for the first half of 2010.

The period ended with a net profit of €24.7 million, up 32.6% compared to the same period of the previous year.

Net debt went from €268.8 million at 30 June 2010 to €281.4 million, up by €12.6 million, mainly due to the significant production investments made during the period and the dividend pay-out in May.