Brembo N.v. · MIL:BRE

Brembo — Q1 2009 Earnings Presentation

21 slides from Brembo's earnings presentation, May 14, 2009

  1. Slide 1: Q1 2009 Analyst's presentation

    "Strictly Confiden ntial. © Brembo S.p.A.. reserves all rights of u use and disposal, under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" Q 1stt Quarter Milan, 14 May 2009 t 2009 BREMBO - 14 May 2009 – Analyst’s presentation Pag. 1

  2. Slide 2: Q1 2009: revenues and margins down

    Q1 2009: revenues and margins down (Summary of Consolidated Income Statement) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" € Million Q1 09 % sales Q1 08 % sales % 09/08 Sales use and disposal, 196.2 100% 273.2 100% -28.2% EBIT

  3. Slide 3: Sales variance analysis

    "Strictly Confiden ntial. © Brembo S.p.A.. reserves all rights of u use and disposal, under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" (Sales variance analysis – € Million) - 14 May 2009 – Analyst’s presentation KBX Nyabs 5.2 Bras

  4. Slide 4: Q1 2009 revenues: all sectors decline except passive safety

    "Strictly Confiden ntial. © Brembo S.p.A.. reserves all rights of u use and disposal, under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" (Euro million) -31.3% -14% - 14 May 2009 – Analyst’s presentation -46.3% that grows due to cons

  5. Slide 5: Q1 2009 revenues: overall decline

    "Strictly Confiden ntial. © Brembo S.p.A.. reserves all rights of u use and disposal, under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" -27.6% (Euro Million) -37.1% -27.4% -41.8% - 14 May 2009 – Q1 2009 revenues : overall decline A

  6. Slide 6: Income Statement

    Income Statement (Summary of Consolidated Income Statement) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" € Million Q1 09 % sales Q1 08 % sales % 09/08 Sales use and disposal, 196.2 100% 273.2 100% -28.2% EBITDA 17 3 17.3 40 0

  7. Slide 7: Q1 2009 EBITDA variance analysis

    Q1 2009 EBITDA: negative impact of vol/mix and operations, partially offset by prices, cost reductions and Zloty (Euro Million) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" ntial. © Brembo S.p.A.. reserves all rights of u "Str

  8. Slide 8: Income Statement

    Income Statement (Summary of Consolidated Income Statement) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" € Million Q1 09 % sales Q1 08 % sales % 09/08 Sales use and disposal, 196.2 100% 273.2 100% -28.2% EBITDA 17 3 17.3 40 0

  9. Slide 9: Financial charges

    under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" Financial charges € Million Q1 09 Q1 08 Δ 09/08 Net financial charges 6.3 3.7 2.5 use and disposal, Financial charges 42 4.2 35 3.5 06 0.6 ntial. © Brembo S.p.A.. reserves all right

  10. Slide 10: Tax rate

    under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" Tax rate € Million Q1 09 Q1 08 use and disposal, Current taxes (incl. IRAP) 4.0 8.7 Deferred taxes (incl (incl. IRAP) (2 3) (2.3) (2 0) (2.0) ntial. © Brembo S.p.A.. reserves all ri

  11. Slide 11: Net debt increases due to capex and Brazilian acquisition

    Net debt increases due to capex and Brazilan acquisition, partially offset by stock reduction (Euro Million) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" ntial. © Brembo S.p.A.. reserves all rights of u "Strictly Confiden use

  12. Slide 12: Working Capital

    under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" Working Capital € Million Q1 09 days Q1 08 days 12M 08 days use and disposal, Inventories 185.6 69 181.1 69 197.6 68 ntial. © Brembo S.p.A.. reserves all rights of u Trade receivabl

  13. Slide 13: Free operating cash flow is positive in the quarter

    Free operating cash flow is positive in the quarter Q1 09 Q1 09 under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" € Million EBITDA 17 3 17.3 40 0 40.0 use and disposal, Investments (13.4) (22.5) ntial. © Brembo S.p.A.. reserves all

  14. Slide 14: Financing mix mainly on medium/long term

    under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" Financing mix mainly on medium/long term € Million 31.03.2009 31.12.2008 Δ 09/08 Current financial assets 46.5 45.6 0.9 use and disposal, Current financial liabilities (185.0) (189.

  15. Slide 15: Net debt structure at March 2009

    "Strictly Confiden ntial. © Brembo S.p.A.. reserves all rights of u use and disposal, under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" 31 March 2009 Net debt structure at - 14 May 2009 – Analyst’s presentation 27 3% 27.3% 72.7% Ne

  16. Slide 16: Covenants

    Covenants VALUE LOAN COVENANTS LIMIT COUNTERPART under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" RATIO AMOUNT NOTE Net Debt/ Equity <=1,2 INTESA S.PAOLO 1,26 4,6 WAIVER FROM BANK use and disposal, Net Debt/ Ebitda <=2,75 INTESA S

  17. Slide 17: The Group balance sheet maintains a sound financial profile

    under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" The Group balance sheet maintains a sound financial profile € Million 31.03.2009 31.12.2008 31.12.2007 Investments 16.8 148.3 116.9 use and disposal, Net invested capital 643.0 651.

  18. Slide 18: Main financial ratios

    under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" Main financial ratios € Million 31.03.2009 31.12.2008 31.12.2007 ROI * 7 7% 7.7% 11 5% 11.5% 15 5% 15.5% use and disposal, ROE * 4.9% 12.5% 19.6% Gearing 125 9% 125.9% 116 0% 116.0%

  19. Slide 19: Performance of Brembo stock and its international peers

    "Strictly Confiden ntial. © Brembo S.p.A.. reserves all rights of u use and disposal, under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" - 14 May 2009 – Analyst’s presentation Performance of Brembo stock and its international peers

  20. Slide 20: Performance of Brembo stock and its international peers

    under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" Performance of Brembo stock and its international peers Ultimi 18 mesi Ultimi 12 mesi Dal 1/1/2009 use and disposal, BREMBO -62,6% -47,9% 16% VALEO -49 49,1% 1% -38 38,6% 6% 56 8% 5

  21. Slide 21: Declaration of the financial reporting manager

    under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" ntial. © Brembo S.p.A.. reserves all rights of u "Strictly Confiden use and disposal, DECLARATION The manager responsible for preparing the company’s financial reports CORRADO ORSI

Brembo — Q1 2009 Earnings Presentation on 6ix