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Brembo Q1 operating profit rises on record sales

Published 09/05/2024, 12:10
Updated 09/05/2024, 12:11
© Reuters. A technician works on brake disc components in the Brembo factory in Curno, Italy June 19, 2017. Picture taken June 19, 2017.    REUTERS/Alessandro Garofalo/File Photo
BRBI
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(Reuters) - Italian premium brake maker Brembo posted on Thursday an 8.5% yearly increase in first-quarter operating profit as revenues grew to a record 1 billion euros in the quarter.

Brembo's January-March operating profit (EBIT) stood at 112.8 million euros ($121.06 million), while its net profit marginally decreased to 75.2 million euros from 76.8 million euros.

© Reuters. A technician works on brake disc components in the Brembo factory in Curno, Italy June 19, 2017. Picture taken June 19, 2017.    REUTERS/Alessandro Garofalo/File Photo

The group said in a statement it sees for 2024 moderate revenue growth and margins in line with 2023.

($1 = 0.9318 euros)

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