|Bid||10.92 x 0|
|Ask||11.16 x 0|
|Day's range||10.95 - 11.18|
|52-week range||8.01 - 13.52|
|Beta (5Y monthly)||1.38|
|PE ratio (TTM)||12.30|
|Earnings date||01 Mar 2023 - 06 Mar 2023|
|Forward dividend & yield||0.27 (2.40%)|
|Ex-dividend date||23 May 2022|
|1y target est||11.88|
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.
Brembo Executive Chairman Matteo Tiraboschi told Reuters the company had a positive start in 2022, with a "robust" performance in January and February. But he said that the Russian invasion of Ukraine was putting a "huge question mark" on the business outlook. The company, with operations in 15 countries including Russia, said in a statement the direct impact of the Russia-Ukraine crisis on the group was limited as it has no production sites in the area, but it was nonetheless closely monitoring the impact on commodity supplies and production costs.