(Reuters) – Italy’s Brembo sees an increase in sales in the mid-single digit range for 2023 on the back of a positive start to the year in terms of volumes and as it made full use of its production capacity, the brakes maker said on Thursday.
The company also said that revenues totalled 3.629 billion euros ($3.86 billion) last year, up around 31% and slightly higher than the Bergamo-based company’s estimate disclosed last November.
However, Brembo’s earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 625.2 million euros, below its own estimates, while margins stood at 17.2%, down from 18.1% a year earlier.
The group proposed to distribute a dividend of 0.28 euros per share.
($1 = 0.9410 euros)
(Reporting by Romolo Tosiani, editing Federico Maccioni)
