|Bid||14.00 x 0|
|Ask||14.45 x 0|
|Day's range||14.19 - 14.45|
|52-week range||8.01 - 15.19|
|Beta (5Y monthly)||1.38|
|PE ratio (TTM)||15.67|
|Forward dividend & yield||0.28 (1.97%)|
|Ex-dividend date||22 May 2023|
|1y target est||N/A|
MILAN (Reuters) -Brake manufacturer Brembo on Thursday forecast a significant slowdown in its sales growth this year as the automotive market weakens, denting its share price. The Italian company said the first months of 2023 saw a positive performance in terms of volumes and capacity utilisation and for the full year it expected its revenues to increase in the mid-single digit range. That compares with 31% growth last year, when Brembo's revenues totalled 3.629 billion euros ($3.84 billion).
An accord for Brembo to align voting with Camfin at Pirelli shareholder meetings supports speculation of an eventual merger between the Italian tyre maker and Brembo, analysts said on Wednesday. Camfin is an investment vehicle of Pirelli CEO Marco Tronchetti Provera and has a 14.1% stake in the company with options to buy a further 4.6%. Brembo - controlled by the Bombassei family - has a 6% shareholding.
Italian premium brakes maker Brembo, which supplies Tesla, Ferrari and other car companies, plans to expand one of its factories in the northern Mexican state of Nuevo Leon, government officials said on Thursday. The company has operated since 2015 in Nuevo Leon state, which borders Texas, and where it employs 1,150 people at its Escobedo site, the Nuevo Leon governor's office said in a statement. Brembo now plans to double the size of that factory, aiming to open around the second quarter of 2023, said a person with knowledge of the matter.
MILAN (Reuters) -Brembo sees 2023 as another complicated year but manufacturers are getting used to navigating tricky times, its executive chairman said on Wednesday, as the Italian brakes maker hiked its forecasts for this year's revenues and earnings. "We've seen COVID, crazy raw material prices, the war (in Ukraine) and higher energy costs it caused... unfortunately we're getting used to it," Brembo's Matteo Tiraboschi told Reuters, presenting third quarter results. "Next year will be another complex one, but I hope we can go back to some sort of normality, without further surprises," Tiraboschi said.
Premium brakes maker Brembo said on Wednesday it had set up an internal venture capital unit, called Brembo Ventures, to accelerate the development of technologic solutions to be applied to the automotive industry. The move of the Italian group mirrors similar initiatives by other companies including Stellantis and CNH Industrial with the common purpose to spur innovation in a fast changing environment as the automotive industry moves towards electrification and autonomous driving. A spokesman for the group said Brembo Ventures was a unit and not set up as a proper venture capital fund with an initial financial endowment.