(Reuters) – Brembo posted moderate gains in first-half core earnings and revenue on Tuesday despite a darker outlook for the automotive sector, boosting shares in the Italian premium brake maker.
Brembo’s earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 2.1% to 351.4 million euros ($381 million) for the six months to June 30.
Its revenue rose 2.8% to top 2 billion euros for the first time and its EBITDA margin of 17.5% was broadly unchanged from 17.6% a year earlier.
The results show the “group’s ability to ensure profitability despite the pressures of the harsh geopolitical and market situation,” Executive Chairman Matteo Tiraboschi said in a statement.
Brembo’s shares were up 3.8% as of 1150 GMT, reversing earlier losses.
The Bergamo-based group, whose clients include automakers such as Tesla, BMW, and Chinese EV giant BYD, reiterated its full-year forecasts for moderate revenue growth and stable margins.
($1 = 0.9233 euros)
(Reporting by Enrico Sciacovelli and Giulio Piovaccari, editing by Cristina Carlevaro)
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