Brembo (1 Viewer)

Fleursdumal

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Brembo still growing in the first half: consolidated revenues up 6%, export at 72%, market share increasing in all activity sectors with new products
The Board of Directors of Brembo met today at Curno plant (Bergamo, Italy) to
examine and approve the financial results for the first half of 2002.


In a macroeconomic environment characterised by a strong slump in the demand,
both at worldwide,
European and Italian level, Brembo was able to keep high revenues and
profitability levels, if compared with those of other European companies and
more generally, of the whole Italian industrial sector in the same time frame.


Products and markets

During the first half of 2002 the company has been engaged in the development
of several applications recently introduced on new vehicles or that will be
soon presented. For instance the new top performing ceramic carbon braking
system, recently presented by a prestigious Italian customer, as well as the
brake calipers for the most powerful SUV soon being introduced by a German
customer. During the past months, moreover, the braking systems for light
commercial vehicle came into full production, while the delivery programs for
top-of-the-range-cars continued at high levels. Positive trend also for After
Market discs, while the motorcycle segments showed a rest.


Financial and economic results

Brembo consolidated net revenues during the first six months amount at E 297.2
million, up 6% over the same period of the previous year, 9% on a like-for-like
basis; these numbers compare to the data recently released by ISTAT (the
Italian Institute of Statistics) for the period January-June 2002: Italian
industry turnover down by 7.7% orders down by 4.8%. The portion of the turnover
produced abroad or destined to the export is steady over 70% (72% in the first
six months) up 2 points over last year, going remarkably against the current
compared to the national export level (-5.2%) and to the regional export
(-7.3%) during the first half of 2002. Personnel expenses increased by 9.2%
during the period under examination; the headcount grew by 6.7% over the same
period of last year, thus bringing the total number of employees to 3,452; this
is once more going against the current if compared to the macroeconomic data
about unemployment of the Italian industrial sector (-4% at June 2002).


The net consolidated profit for the period is E 11.2 million, 3.8% of sales.

For further details on the first semester at 30th June 2002, please see the
attached schedules.


Expected trend of activity

The months up to now showed a difficult and complex macroeconomic scenario. In
such an environment the company is keeping a fairly good visibility on the
orders until the end of the year; this consents to foresee the prosecution of
the growth of sales trend occurred since now, even if with diverse trends in
the different segments of activities.


The company also informs that the date for the next Board Meeting has changed
and it will be held on November 11th at 16.00 at the Company's headquarters.


For further information:


Roberto Vavassori Tel. +39 035 605 223 e-mail: [email protected]

Investor Relations Fax +39 035 605 590 web: www.brembo.com






BREMBO: CONSOLIDATED INCOME STATEMENT


30/06/2002 30/06/2001 Change %
(in million of E)

Sales of goods and services 297.2 280.4 16.8 6.0%
Personnel expenses (58.3) (53.4) (4.9) 9.2%
Cost of sales and operating
costs (189.8 ) (177.3) (12.5) 7.1%

Gross operating margin 49.1 49.7 (0.6) (1.2%)
% on sales 16.5% 17.7%

Amortisation and depreciation (22.0) (20.7) (1.3) 6.3%

Operating margin 27.1 29.0 (1.9) (6.6%)
% on sales 9.1% 10.3%

Net financial income (charges) (5.2) (5.4) 0.2
Adjustments of financial assets
value (0.1) 0.2 (0.3)

Income before taxes 21.8 23.8 (2.0) (8.4%)
% on sales 7.3% 8.5%

Taxes (10.5) (9.0) (1.5)

Income before minority interests 11.3 14.8 (3.5) (23.6%)
% on sales 3.8% 5.3%

Minority interests (0.1) (1.3) 1.2

Group net income 11.2 13.5 (2.3) (17.0%)
% on sales 3.8% 4.8%




BREMBO: CONSOLIDATED BALANCE SHEET




30/06/2002 31/12/2001 Change 30.06/31.12
(in million of E) %

Tangible and intangible
fixed assets 204.7 219.8 (15.1)
Financial fixed assets 28.6 27.2 1.4

(a) Total fixed assets 233.3 247.0 (13.7) (5.5%)

Inventories 92.1 90.6 1.5
Current assets 179.5 149.1 30.4
Current liabilities (147.3) (150.4) 3.1
Provision for contingencies
and other charges (10.1) (10.2) 0.1

(b) Net working capital 114.2 79.1 35.1 44.4%

(c) NET INVESTED CAPITAL (a+b) 347.5 326.1 21.4 6.6%

(d) Shareholders'equity 159.4 168.3 (8.9)

(e) Employees' leaving
entitlements 15.9 14.9 1.0

Net medium and long-term
financial indebtedness 106.1 68.4 37.7
Net short-term financial
indebtedness 66.1 74.5 (8.4)

(f) Net indebtedness 172.2 142.9 29.3 20.5%

(g) COVER (d+e+f) 347.5 326.1 21.4 6.6%








GROSS SALES BREAKDOWN BY GEOGRAPHICAL AREA AND APPLICATION


Change
Gross sales as % Gross sales as % 30/06/02- %
GEOGRAPHICAL AREA at 30/06/02 at 30/06/01 30/06/01

in million of E

Italy 85.2 28% 86.4 30% -1.2 -1%
Germany 66.7 22% 59.9 21% 6.8 11%
France 19.9 7% 26.1 9% -6.2 -24%
United Kingdom 25.4 8% 21.9 8% 3.5 16%
Other EU countries 29.1 10% 28.6 10% 0.5 2%
Nafta countries 49.0 16% 38.6 14% 10.4 27%
Japan 11.1 4% 9.9 3% 1.2 12%
Brasil 4.6 2% 5.9 2% -1.3 -22%
Other countries 11.1 3% 8.0 3% 3.1 39%
Total 302.1 100% 285.3 100% 16.8 6%







Change
Gross sales as % Gross sales as % 30/06/02- %
APPLICATION at 30/06/02 at 30/06/01 30/06/01

in million of E

Cars 180.0 60% 169.4 60% 10.6 6%
Motorbikes 44.0 15% 49.8 17% (5.8 ) -12%
Commercial vehicles 40.0 13% 29.2 10% 10.8 37%
Racing 32.8 11% 32.7 11% 0.1 0%
Miscellaneous 5.3 1% 4.2 2% 1.1 26%
Total 302.1 100% 285.3 100% 16.8 6%





Copyright Prline Italia


Per la cronaca Brembo sta perdendo l'8,30% a 4,33 :-o
 

abele

Nuovo forumer
Registrato
27 Giugno 2002
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144
..anche oggi scende, continua a predere terreno: cosa c'è sotto?...qualcuno sa qualcosa?
 

Fleursdumal

फूल की बुराई
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questa è uscita ieri:

Brembo smentisce voci accordo con Bradi
MILANO, 25 settembre (Reuters (Londra: RTR.L - notizie) ) - Brembo (Milano: BRBI.MI - notizie - bacheca) dice in una nota che le voci diffusesi sul mercato di un possibile accordo con Bradi "sono destituite di qualsiasi fondamento".
Il cda di ieri ha valutato i contatti preliminari con la Bradi di Levate (Bergamo) per valutare le ipotesi di un possibile ingresso di Brembo e altro intervento finanziario, ed ha ritenuto "che allo stato non sussistano i presupposti per procedere ulteriormente", dice una nota Brembo./RED
 

abele

Nuovo forumer
Registrato
27 Giugno 2002
Messaggi
144
..seconde te questo può giustificare la forte discesa di questi ultimi tempi, visti in fondamentali che appaiono solidi ?..si è deprezzata molto
 

Fleursdumal

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abele ha scritto:
..seconde te questo può giustificare la forte discesa di questi ultimi tempi, visti in fondamentali che appaiono solidi ?..si è deprezzata molto
mah non saprei dirtelo , dopo l'aumento di capitale mi sembra essere scesa in linea con il Mibtel, cmq il 24 ha fatto il minimo, ieri l'ha ritestato ed è rimbalzata e oggi è scesa ancora nei paraggi per risalire nel pomeriggio. E' da verificare la tenuta in caso di nuove discese degli indici. Certo operarci su intraday è difficile data la scarsa liquidità ma non impossibile
 

abele

Nuovo forumer
Registrato
27 Giugno 2002
Messaggi
144
..ah non sapevo dell'aumento di capitale , grazie: beh allora le cose cambiano....

avresti i coefficenti di normalizzazione del titolo??
 

abele

Nuovo forumer
Registrato
27 Giugno 2002
Messaggi
144
..grazie lo stesso: forse sul sito di borsa spa ci dovrebbero essere


saluti
 

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