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Brembo S.p.A.
Brembo S.p.A.
TABLE OF CONTENTS
TABLE OF CONTENTS
Company Overview..............................................................................................3
Key Facts...............................................................................................................3
Business Description...........................................................................................4
History...................................................................................................................5
Key Employees.....................................................................................................8
Key Employee Biographies..................................................................................9
Major Products and Services............................................................................12
Revenue Analysis...............................................................................................14
SWOT Analysis...................................................................................................16
Top Competitors.................................................................................................21
Company View.....................................................................................................22
Locations and Subsidiaries...............................................................................24
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Brembo S.p.A.
Company Overview
COMPANY OVERVIEW
Brembo S.p.A. (Brembo or "the company") is engaged in the research, design and production of
automotive disc braking systems. The company operates across Europe, the Americas and Asia. It
is headquartered in Bergamo, Italy and employed 7,241 people at the end of December 31, 2013.
The company recorded revenues of E1,566.1 million ($2,079.8 million) during the financial year
ended December 2013 (FY2013), an increase of 12.8% over FY2012. The operating profit of the
company was E121.4 million ($161.3 million) during FY2013, an increase of 35.6% over FY2012.
The net profit was E89 million ($118.2 million) in FY2013, an increase of 14.4% over FY2012.
KEY FACTS
Head Office
Brembo S.p.A.
Kilometro Rosso Science and Technology Park
Viale Europa
2 - 24040 Stezzano
Bergamo
ITA
Phone
Fax
Web Address
http://www.brembo.com
December
Employees
7,241
Brembo S.p.A.
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Brembo S.p.A.
Business Description
BUSINESS DESCRIPTION
Brembo designs, develops, manufactures and markets braking systems for original equipment (OE),
spare parts and racing industries. It supplies high performance braking systems for cars, motorcycles
and commercial vehicles worldwide, as well as clutches, seats, harnesses and other components
for the racing segment. The company operates in 16 countries across three continents, with 22
production and business sites.
The company's manufacturing plants are located in Italy, Spain (Zaragoza), Poland (Czestochowa
and Dabrowa Gornicza), the UK (Coventry), the Czech Republic (Ostrava-Hrabova), the Slovak
Republic (Zilina), Germany (Meitingen), Mexico (Apodaca), Brazil (Betim and Santo Antonio de
Posse), Argentina (Buenos Aires), China (Nanjing), India (Pune) and the US (Homer). Further, it
also operates companies in Spain (Zaragoza), Sweden (Goteborg), France (Levallois Perret),
Germany (Leinfelden-Echterdingen), China (Beijing and Qingdao) and Japan (Tokyo) to carry out
distribution and sales activities.
Brembo primarily operates through two business segments: discs, systems and motorbikes; and
aftermarket and performance group. Brembo markets its products worldwide under Brembo, Brembo
Racing, ByBre, AP, Breco AP Racing, Marchesini and Sabelt brands.
The company operates in both the OE market and the aftermarket. Brembo's range of products for
the car application and the commercial vehicle application includes brake discs, brake calipers and
the side-wheel modules. The company also provides complete braking system, including integrated
engineering services. For the manufacturers of motorbikes, the company offers brake discs, brake
calipers, brake master cylinders, light-alloy wheels and complete braking systems.
In the aftermarket category, Brembo offers brake discs, pads, drums, brake shoes, drum-brake kits
and hydraulic components. The company also specializes in the design and manufacture of clutch
systems for racing vehicles and the passive safety segment that includes seats, seat belts and
accessories. In the racing sector, Brembo Racing offers braking systems for race cars and motorbikes,
AP Racing provides braking systems and clutches for race cars; Marchesini offers magnesium and
aluminum wheels for race motorbikes; and Sabelt provides seats and seat belts.
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Brembo S.p.A.
History
HISTORY
Brembo was established in Paladina, Italy in 1961. It started off by specializing in manufacturing of
disc brakes. In 1972, the company became the official supplier of Moto Guzzi. In 1975, Brembo
conducted a study on a braking system to match the power of Maranello's Red Streaks for Enzo
Ferrari, following which it entered the field of car and motorcycle racing competitions.
During the 1980s, Brembo expanded its customer base to include high performance models such
as Porsche, Mercedes, Lancia, Nissan and Chrysler. In 1995, the company made its initial public
offering on the Milan Stock Exchange.
In 2003, the company formed a joint venture with DaimlerChrysler for the production of carbon
ceramic brake discs. After two years, Brembo entered into joint venture with Bosch. In 2007, Hayes
Lemmerz International and Brembo together sold Hayes Lemmerz' Automotive Brake Components
division to Brembo North America in 2007.
Brembo acquired Sabelt, a manufacturer of seat belts for both standard production and racing cars,
in 2008. In the same year, Brembo China Brake Systems, a joint venture company between Brembo
and SIMEST, acquired approximately 42.3% stake in Nanjing Yuejin Automotive Brake System from
Nanjing Automobile (Group).
Further in 2008, the company consolidated its corporate and technical groups from Northville,
Farmington Hills and Costa Mesa, California to a new headquarters in Novi, Michigan. In the same
year, the company entered into a commercial agreement with Magneti Marelli for the distribution of
brake disks in Brazil's independent after-market. In addition, Brembo acquired 50% in carbon ceramic
brake discs company Brembo Ceramic Brake Systems (BCBS) from Daimler. Subsequently, the
company acquired KBX motorbike Products (KBX), based in Pune, India.
During 2009, Brembo and SGL Group (the carbon company), announced the contract closing of a
joint venture, in the area of carbon ceramic brake discs, with each parent company owning a 50%
share in the new entity. For this purpose, the subsidiaries Brembo Carbon Ceramic Brake Systems
and SGL Brakes combined their activities. The joint venture operates under the name 'Brembo SGL
Carbon Ceramic Brakes'. In the same year, as part of a reorganization of its own companies in
Mexico and within the global agreement with Sanluis Brembo's Luxembourg subsidiary, Brembo
International signed an agreement for the acquisition of 24% in Brembo Rassini, thus obtaining 100%
of the company capital.
Later in 2009, Brembo and Hitachi Chemical signed a technical agreement for the production of a
family of friction brake pad material for high-end passenger cars. Under the agreement, Hitachi
Chemical granted an exclusive license for production and sale of friction material for some of the
typical Brembo car applications. Also in 2009, the company signed a preliminary agreement with
Donghua Automotive Industrial, part of China's carmaker Saic Motor, to establish a new manufacturing
hub for brake systems for passenger cars and commercial vehicles in China.
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Brembo S.p.A.
History
During 2010, Brembo finalized agreements with Donghua Automotive Industrial for the purchase of
foundry plants and equipment in Nanjing, eastern China. In the same year, Brembo announced
plans to invest E82 million ($114.4 million) over the next five years in expanding its production facility
in Dabrowa Gornicza, Poland. In addition, the company planned to make its facility at Pune, India
as a global hub for two-wheeler braking products.
Further in 2010, Brembo decided to invest approximately E35 million ($46.5 million) over the next
three years in a new manufacturing facility to be located at Ostrava, in the Czech Republic. Also in
2010, Brembo acquired the remaining 30% stake in Brembo Performance from its minority
shareholders. Subsequently, the company sold 35% of its investment in Sabelt to the previous
minority shareholders of Brembo Performance. Concurrently, Brembo Performance was merged
into Brembo.
Later in 2010, the company signed an agreement with Suzuki to supply brake calipers to Suzuki's
new version of the GSX-R 600 and 750 bikes. Subsequently, the merger of Marchesini into Brembo
was approved by the respective Board of Directors.
In 2011, Brembo agreed to acquire Perdriel, an Argentinian manufacturer of brake discs.
Subsequently, the company was selected as the official supplier of Truck Sport Lutz Bernau (TSB)
team at FIA European Truck Championship. The agreement signed with TSB team marks Brembo
entrance in the segment of racing trucks races.
Further in 2011, Brembo was named the exclusive supplier of brake systems for the new IZOD
IndyCar Series car, which debuted in 2012. The agreement would run until at least 2015.
In 2012, the company expanded its production facility which manufactures calipers in Homer, the
US. In the same year, the company introduced RB340 to RB350 Ceramic Basic pads. In addition,
the company expanded its product offering for the V-Twin market with the introduction of LED-body
radial master cylinder and two new .484 calipers.
Further in 2012, Brembo opened its new manufacturing center in Nanjing, China. In the same year,
the company signed a new agreement with team MKR Technology and renewed its association with
TSB. Additionally, the company introduced the new PF 2x28 floating caliper for brake systems of
small and medium displacement scooters and motorcycles.
In June 2013, the company announced plans to invest E115 million ($147.9 million) to expand in
the US and Brazil. During August 2013, Brembo acquired the remaining 30% stake in Brembo
Nanjing Brake Systems from its Chinese partner Donghua Automotive Industrial for E11 million
($14.1 million) making it a wholly owned subsidiary.
During September 2013, the company in partnership with Daimler launched a 10-15% lighter brake
disc which reduces fuel consumption and lowers the impact on the environment.
In May 2014, Brembo planned to expand its North American manufacturing operations in Homer,
Michigan with an investment of more than $115 million dollars (E83 million) through the end of 2015.
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Brembo S.p.A.
History
In July 2014, Brembo planned for the construction of a cast iron foundry near its Homer facilities in
Michigan, beginning in 2015 which is expected to be completed in 2017, with an investment of E74
million ($100 million).
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Brembo S.p.A.
Key Employees
KEY EMPLOYEES
Name
Job Title
Matteo Tiraboschi
Executive Board
Cristina Bombassei
Executive Director
Executive Board
Alberto Bombassei
Chairman
Pasquale Pistorio
Barbara Borra
Independent Director
Giovanni Cavallini
Independent Director
Giancarlo Dallera
Independent Director
Gianfelice Rocca
Independent Director
Independent Director
Umberto Nicodano
Non-Executive Director
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Board
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Brembo S.p.A.
Key Employee Biographies
Matteo Tiraboschi
Board: Executive Board
Job Title: Executive Deputy Chairman
Since: 2011
Mr. Tiraboschi has been the Executive Deputy Chairman at Brembo since 2011. He has been a
Director at the company since 2002. From 1993 to 1996, Mr. Tiraboschi worked at an auditing firm.
In 2005, he was appointed as an Executive at Brembo. From 2005 to 2011, Mr. Tiraboschi was a
Director of foreign subsidiaries within Brembo, and in 2009 he was also appointed the Chief Financial
Officer.
Cristina Bombassei
Board: Executive Board
Job Title: Executive Director
Since: 2008
Ms. Bombassei has been the Executive Director at Brembo since 2008. She has been a Director at
the company since 1997. Ms. Bombassei has been the Corporate Development Manager at the
company since 2003. She is a Director at Banca Popolare di Bergamo, Kilometrorosso and
Fondazione Cariplo Comunita Bergamasca. Ms. Bombassei is also a Member of the Steering
Committee at Confindustria Bergamo. In 2013, she was appointed the CSR Officer at Brembo.
Alberto Bombassei
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Brembo S.p.A.
Key Employee Biographies
Pasquale Pistorio
Board: Non Executive Board
Job Title: Lead Independent Director
Mr. Pistorio currently serves as a Lead Independent Director at Brembo. He has been a Director at
the company since 2008. In 1978, Mr. Pistorio was appointed the General Manager at Motorolas
International Semiconductor Division. In 1980, he became the President and Chief Executive Officer
at SGS Group, which changed its name to ST Microelectronics after the merger with Thomson
Semiconductors in 1987; Mr. Pistorio served at ST Microelectronics as the President and Chief
Executive Officer up to retirement in 2005, when he was appointed its Honorary Chairman. Mr.
Pistorio was a Director at FIAT Auto from 2004 to 2012, and a Director at Telecom Italia from 2004
to 2007 and also served as the President at Telecom Italia in 2007. In addition to its role in Brembo,
he currently serves as Director at Atos, Stats ChipPac, and XiD).
Giovanni Cavallini
Board: Non Executive Board
Job Title: Independent Director
Since: 2005
Age: 64
Mr. Cavallini has been an Independent Director at Brembo since 2005. From 1978 to 1987, he
worked at Boston Consulting Group, where he served as the Vice President and Partner for three
years. Mr. Cavallini served as the Chief Executive Officer from 1996 to 2005 and as the Chairman
from 2005 to 2013 at Interpump Group. In 2009, he was also appointed a Director at Migros Turk.
Mr. Cavallini has been the Chairman at ISI (Industrial Stars of Italy), a special-purpose acquisition
company since 2013.
Giancarlo Dallera
Board: Non Executive Board
Job Title: Independent Director
Since: 2003
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Brembo S.p.A.
Key Employee Biographies
Mr. Dallera has been an Independent Director at Brembo since 2003. He also serves as a Director
at CRE-LO.VE and was the President at the Industrial Entrepreneur Association of Brescia. Mr.
Dallera also served as the Vice President at Federmeccanica and the President at CROMODORA
WHEELS. From 1991 to 2003, he was the President at Hayes Lemmerz International.
Gianfelice Rocca
Board: Non Executive Board
Job Title: Independent Director
Since: 2011
Mr. Rocca has been an Independent Director at Brembo since 2011. He is the Chairman at Techint
Group and also serves as a Director at Allianz and Buzzi Unicem. In the 1990s, Mr. Rocca founded
the Istituto Clinico Humanitas in Milan. Since 2013, he has been the President at Assolombarda.
From 2004 to 2012, Mr. Rocca was the Vice President at Confindustria, where he was responsible
for Education.
Umberto Nicodano
Board: Non Executive Board
Job Title: Non-Executive Director
Since: 2000
Mr. Nicodano has been a Non-Executive Director at Brembo since 2000. He is a Partner at the law
firm Bonelli Erede and Pappalardo. Mr. Nicodano is the President at the Valentino Fashion Group,
and a Director at several other companies, including Industrie Ilpea and Roberto Cavalli.
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Brembo S.p.A.
Major Products and Services
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Brembo S.p.A.
Major Products and Services
Brembo Racing
AP Racing
Marchesini
Sabelt
ByBre
AP
Breco
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Brembo S.p.A.
Revenue Analysis
REVENUE ANALYSIS
Overview
The company recorded revenues of E1,566.1 million ($2,079.8 million) during the FY2013, an
increase of 12.8% over FY2012. In FY2013, Germany, Brembo's largest geographical market,
accounted for 24% of the total revenues.
Brembo primarily operates through two business segments: discs, systems and motorbikes (84.5%
of the total revenues, including interdivision and non-segment data in FY2013) and aftermarket,
performance group (15.5%).
Revenues by segment
During FY2013, the discs, systems and motorbikes segment recorded revenues of E1,337.7 million
($1,776.4 million), an increase of 13.9% over FY2012.
The aftermarket and performance group segment recorded revenues of E245.7 million ($326.3
million) in FY2013, an increase of 4.4% over FY2012.
Revenues by geography
Germany, Brembo's largest geographical market, accounted for 24% of the total revenues in FY2013.
Revenues from Germany reached E376 million ($499.3 million) in FY2013, an increase of 14.1%
over FY2012.
Italy accounted for 13.5% of the total revenues in FY2013. Revenues from Italy reached E212.1
million ($281.7 million) in FY2013, an increase of 2.1% over FY2012.
The UK accounted for 7.3% of the total revenues in FY2013. Revenues from the UK reached E114.7
million ($152.3 million) in FY2013, an increase of 14.1% over FY2012.
China accounted for 5.2% of the total revenues in FY2013. Revenues from China reached E81.3
million ($107.9 million) in FY2013, an increase of 35.8% over FY2012.
France accounted for 4.5% of the total revenues in FY2013. Revenues from France reached E69.7
million ($92.6 million) in FY2013, an increase of 19.9% over FY2012.
Brazil accounted for 4.2% of the total revenues in the fiscal year 2013. Revenues from Brazil reached
E66.2 million ($87.9 million) in FY2013, a decrease of 1.3% as compared to FY2012.
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Brembo S.p.A.
Revenue Analysis
India accounted for 2.2% of the total revenues in FY2013. Revenues from India reached E35.2
million ($46.7 million) in FY2013, an increase of 3.5% over FY2012.
Japan accounted for 1.4% of the total revenues in FY2013. Revenues from Japan reached E21.8
million ($28.9 million) in FY2013, an increase of 11% over FY2012.
North America accounted for 23.8% of the total revenues in FY2013. Revenues from North America
reached E372.8 million ($495.1 million) in FY2013, an increase of 19.4% over FY2012.
Other European countries accounted for 11% of the total revenues in FY2013. Revenues from other
European countries reached E173.1 million ($229.8 million) in FY2013, an increase of 5.5% over
FY2012.
Other Asian countries accounted for 0.6% of the total revenues in FY2013. Revenues from other
Asian countries reached E9.4 million ($12.5 million) in FY2013, an increase of 11.3% over FY2012.
Other countries accounted for 2.3% of the total revenues in FY2013. Revenues from other countries
reached E33.9 million ($45 million) in FY2013, an increase of 23.2% over FY2012.
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SWOT Analysis
SWOT ANALYSIS
Brembo is engaged in the research, design and production of automotive disc braking systems. A
prominent customer base not only ensures a steady flow of revenue, but also enhances the companys
brand equity. However, intense competition from global and regional parts manufacturers, and
industry consolidation could force the company to reduce prices, which could strain its margins.
Strengths
Weaknesses
Opportunities
Threats
Strengths
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Brembo S.p.A.
SWOT Analysis
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Brembo S.p.A.
SWOT Analysis
Thus, strong geographic spread of operations allows Brembo to have a presence in leading and
developing markets, thereby enabling the company to spread its risks across markets.
Weaknesses
Opportunities
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Brembo S.p.A.
SWOT Analysis
largest market for disc brakes is the European region as it is also the second largest market for
automobile production in terms of volume. Germany is the leader in the European disc brake market
and also holds its leadership for being the largest automobile market in the region. It is followed by
Russia, which holds the second position in European disc brake market. The European disc brake
market was valued at $2.8 billion in 2013 and is expected to grow at a CAGR of 5.8% annually. It
is projected to reach $3.7 billion by 2018.
North American region is projected to surpass Europe in terms of vehicle production in the coming
future. The growing demand for luxury and performance vehicles along with the safety norms for
stopping of a vehicle is said to boost the disc brake market in the North American region. The North
American disc brake market is projected to reach $1.7 billion by 2018 from an estimated value of
$1.2 billion in 2013, growing at a CAGR of 6.9% annually. Other factors for the growth of disc brakes
market on a global scale are the growing demand for higher performing vehicles and longer service
intervals are the major factors that drive the market.
Brembo primarily manufactures and markets braking systems for OE, spare parts and racing industries
across the globe, Therefore, the company can leverage the flourishing disc brake market and enhance
it revenues and profits.
Growing Chinese automotive market
The Chinese auto market is expected to record continuous growth in the near future. According to
industry sources, the world's biggest auto market will likely sustain the momentum it regained in
2013, helped by an anticipated array of economic stimulus measures and robust demand for cars
in smaller cities of China's interior regions. In the previous 10 years, auto demand in China often
surged 30%-40% annually. According to the China Association of Automobile Manufacturers, sales
in China during 2013 rose 13.9% to approximately 22 million vehicles. According to industry estimates,
by 2020, China auto market will increase to 31 million vehicles.
As the company is into the manufacture of automotive braking systems and having a considerable
presence in Chinese market, Brembo can further drive its sales volume and expand its market share
in the Chinese as well as Asian markets.
Threats
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Brembo S.p.A.
SWOT Analysis
Many of these competitors operate with lower overall cost structures, which are more flexible than
the cost structure of the company. Further, the trend of consolidation among worldwide suppliers is
expected to continue as suppliers seek to achieve operating synergies and streamline efficiencies
through business combinations. Additionally, vehicle manufacturers are experiencing rapid
consolidation, which affects customer/supplier relationships and provides opportunities and risks,
as suppliers attempt to secure global supply contracts across broader vehicle platforms. Thus,
intense competition from global and regional parts manufacturers, and industry consolidation could
force the company to reduce prices, which could strain its margins.
Environmental regulations
The company is subject to the requirements of federal, state, local and international environmental
and occupational safety and health laws and regulations. These include laws regulating air emissions,
water discharge and waste management. Brembo is also subject to environmental laws requiring
the investigation and cleanup of environmental contamination at properties it currently owns or
operates and at third-party disposal or treatment facilities to which these sites send or arranged to
send hazardous waste.
These regulations could have a material adverse impact on the company and any other proposed
changes in applicable laws or regulations will adversely influence its business or financial condition
in the future. Further, a failure to comply with these regulations could result in fines or other penalties,
which could adversely affect the company's business, financial condition and results of operations.
Poor economic conditions in Europe
Europe, where many countries, including the companys home base Italy, are still in the throes of
the Eurozone crisis, proved unable to emerge from what is now a persistent recessionary period, in
spite of a few mild encouraging signs in 2013. The economic scenario of the Eurozone continues
to pose the highest concerns for the company. According to the International Monetary Funds (IMF)
most recent report, in 2013 this areas GDP declined further. In addition, the IMF expects that the
Eurozone might emerge from the recessionary phase but with very slight GDP growth in 2014,
estimated to reach +1%. The economic crisis characterizing Europe, which remains Brembos main
market of operation, continued to influence the performance of the automotive industry in 2013.
Overall, in the 28 European Union member states, car registrations decreased for the sixth consecutive
year in 2013, although the reduction (-1.7%) was milder than in the past, owing to a considerable
recovery in the second half of 2013. Europes car market might expand 2% in 2014 as demand
gradually recovers from a two-decade low, but it is still a long way before the market regains
momentum.
Therefore, the continuing poor economic conditions in Europe particularly weak automotive industry
might lead to decline in revenues and profits of the company.
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Brembo S.p.A.
Top Competitors
TOP COMPETITORS
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Company View
COMPANY VIEW
A statement by Alberto Bombassei, the Chairman at Brembo is given below. The statement has
been taken from the company's 2013 annual report.
Shareholders,
The eagerly awaited global economic recovery did not take place during the year that has just come
to an end, which instead saw a slight slowdown of global growth. Throughout 2013, we were
confronted with a world travelling at different speeds. Europe, where many countries and Italy
amongst them are still in the throes of the crisis, proved unable overall to emerge from what is
now a persistent recessionary period, in spite of a few mild encouraging signs late in the year. The
United States and Japan appear to have embarked upon the path to a recovery that nonetheless
still seems uncertain and uneven. Emerging countries and China and India foremost amongst
them continued to drive the rest of the world, although they showed increasing signs of deceleration.
The economic crisis characterizing Europe, which remains Brembos main market of operation,
continued to influence the performance of the automotive industry in 2013. Overall, in the 28 European
Union member states, car registrations decreased for the sixth consecutive year, although the
reduction (-1.7%) was milder than in the past, owing to a considerable recovery in the second half
of the year. In the U.S., Brembos number-two market by revenues, over 15.5 million light vehicles
were registered, an increase of 7.6% compared to the previous year, while they declined in Japan,
Russia and Brazil. Once more, the lions share was attributable to China, which for several years
has been the worlds largest car market, with nearly 22 million new vehicles registered and an annual
growth rate in excess of 14%.
For Brembo, 2013 closed once more for the fourth consecutive year since the start of the global
economic crisis with positive, if not brilliant, results, considering the general and specific situation
in our industry. Revenues exceeded 1,566 million, an increase of nearly 13% compared to the
previous year, with net income of almost 90 million (+14.4%) and gross operating income of over
212 million, up by 23.5%. The internationalization strategy that the Group has pursued in recent
years, and which it still continues to implement, is one of the fundamental elements of this success.
In fact, our growth goes hand-in-hand with the expansion of Brembos production in those markets
that are showing the greatest development potential in the international scenario. Our presence on
the more traditional markets is also being consolidated. In 2013, investments exceeded 133 million.
They were mostly concentrated in Italy (28%), Eastern Europe (23%), China (15%) and, above all,
the United States and Brazil (30%).
In China, investments continued for the completion of the new integrated manufacturing hub in
Nanjing, which has been operational since 2012 and includes a foundry and a facility for processing
brake calipers and discs for cars and commercial vehicles, as well as a Technical Development
Centre.
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Company View
In Eastern Europe, investments aimed at increasing production capacity are still underway in the
integrated industrial hubs in Dabrowa Gornicza (Poland) and Ostrava-Hrabova (Czech Republic),
devoted respectively to the casting and processing of brake discs for cars and commercial vehicles,
and the casting, processing and assembly of brake calipers and other aluminum components.
Investments in Italy chiefly referred to the purchase of production plant, machinery and equipment.
In the American region, where significant investments were made in the past, Brembo will invest
about 115 million in the United States and Brazil during the three financial years between 2013
and 2015. These investments aim at meeting the Groups increasing production needs following the
acquisition of new important orders.
The second element underlying our success is the high level of technology and reliability of Brembos
products. This is what has allowed our Group to achieve and maintain for several years now
the position of global leader and recognized innovator in the area of disc braking systems technology
for vehicles, as well as of supplier of the worlds most prestigious manufacturers of cars, motorbikes
and commercial vehicles. As many as five Formula 1 teams (Ferrari, Mercedes, Red Bull, Sauber
and Toro Rosso) used Brembo technology in 2013, as did most of the motorbike teams that took
part in the MotoGP. Leadership in competitions translates into leadership of the market, but this did
not cause Brembo to become complacent with its results.
At our Research and Development Centers, work proceeds on the study and design of increasingly
challenging systems from the standpoint of technology and innovation. Reducing the weight and
environmental impact of its brake systems by cutting atmospheric particulate emissions is one of
the goals which Brembo is committed to. To achieve this objective, the Group has just launched a
four year research program, involving an investment of 116 million, to be conducted at its Research
and Development Centre at the Kilometro Rosso Science and Technology Park.
Since 2009, the second year after the start of the global economic crisis, Brembo has increased its
revenues by nearly 90% (+89.6%), more than doubled its gross operating income (+109.6%) and
increased its yearly net income by 7.5 times (+745.4%). If it is true, as some say, that the crisis is
nearly over, we have overcome it with renewed vigor. And we are poised to aim for even more
ambitious goals. Thanks to the commitment of all those who work at Brembo, in Italy and around
the world, day after day, with dedication, passion and intelligence.
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Locations and Subsidiaries
BREMBO S.P.A.
Via Brembo 25 24035
Curno Bergamo
ITA
Brembo UK LTD.
London
GBR
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