Brembo N.v. · MIL:BRE
Brembo — 9M 2010 Earnings Presentation
19 slides from Brembo's earnings presentation, Nov 12, 2010
Slide 1: 3Q 2010 Results
"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" R lt 3Q 2010 Results BREMBO Pag. 1
Slide 2: 9M 2010: Revenues +30.3%
9M 2010: Revenues +30.3% (S (Summary off Consolidated C lid t d Income I St t Statement) t) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" € Million 9M 10 % sales % 10/09 3Q 10 % sales % 10/09 1H 10 % 10/09 Sales 800.5 100% 30.3
Slide 3: Q3 2010: Revenues +28%
Q3 2010: Revenues + 28% (S (Summary off Consolidated C lid t d Income I St t Statement) t) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" € Million 3Q 10 % sales 3Q 09 % sales % 10/09 Sales 268.9 210.1 use and disposal, 100% 100
Slide 4: Revenues growth due to vol/mix and favoured by ex. rates
Revenues growth due to vol/mix and favoured by ex.rates. Like-for-like +28.8% (S l variance (Sales i analysis l i – € Million) Milli ) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" use and disposal, 9.6 -4 1 -4.1 12 5 12.5 ntia
Slide 5: Q3 2010 revenues by application
Q3 2010 revenues by application (€ Million) Milli ) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" +36.9% 3Q 10 yoy 6M 10 use and disposal, 181.5 +27.6% ntial. © Brembo S.p.A.. reserves all rights of u +42.3% +40.9% 40 9% "Stric
Slide 6: Q3 2010 revenues by area
Q3 2010 revenues by area (€ Million) Milli ) 3Q 10 +41.8% under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" 6M 10 +11.2% yyoyy yoy +32.9% yoy +44.7% +28.7% use and disposal, 58.9 +27.7% % +8.7% 8.7% ntial. © Brembo S.p.A.. reserves
Slide 7: 9M 2010 results
9M 2010 results (S (Summary off Consolidated C lid t d Income I St t Statement) t) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" € Million 9M 10 % sales % 10/09 3Q 10 0 % sales % 10/09 1H 10 % 10/09 Sales 800.5 268.9 531.6 use
Slide 8: EBITDA 9M 2010: positive vol/mix
"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" 73.5 (€ Million) EBITDA 9M 09 37.8 VOL/MIX -4.8 PRICES -0.6 EBITDA 9M 2010: positive vol/mix OP
Slide 9: 9M 2010 results
9M 2010 results (S (Summary off Consolidated C lid t d Income I St t Statement) t) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" € Million 9M 10 % sales % 10/09 3Q 10 % sales % 10/09 1H 10 % 10/09 use and disposal, Sales 800.5
Slide 10: Decrease in net financial charges resulted from reduction of interest rates
Decrease in net financial charges resulted from reduction of interest rates applied (S (Summary off Consolidated C lid t d Income I St t Statement) t) under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" € Million 9M 2010 9M 2009 Δ 10
Slide 11: Tax rate
"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" Tax rate Pre Pre-tax Tax rate € Million tax profit Total taxes Current taxes Deferred taxes 9M
Slide 12: Net debt at 30.9.10
"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" 31.12.09 (€ Million) Milli ) 255.0 NET DEBT EBITDA 100.9 Net debt at 30.9.10 43.0 INVESTMENTS N
Slide 13: Operating cash flow is positive
under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" Operating cash flow is positive € Million 9M 10 9M 09 EBITDA 100.9 73.5 use and disposal, Investments ((43.0)) ((32.1)) ntial. © Brembo S.p.A.. reserves all rights of u Net working
Slide 14: Debt structure
under the protection of the law, allso in connection with II.P.R., as well as copying and passing on to third parties" Debt structure € Million 30.09.2010 31.12.2009 Δ 10/09 Current financial assets 45.2 64.7 (19.5) use and disposal, Current financial liabilities 136.6 197.1 (60.4) ntial. © Brembo S
Slide 15: Debt structure
"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" Debt structure 66.6% 33.4% 33 4% At 30.9.10 M/L TERM SHORT TERM Current 83.0% 17.0% Pag. 15
Slide 16: 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 30.09.2010 31.12.2009 31.12.2008 Investments 53.1 47.5 149.4 use and disposal, Net invested capital 613.0 568.4
Slide 17: Main 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 ratios € Million 30.09.2010 31.12.2009 31.12.2008 ROI 10.3% 4.0% 11.5% use and disposal, ROE 11.5% 3.3% 12.4% ntial. © Brembo S.p.A.. reserves all rights of u Gearing 85.9% 87.
Slide 18: Brembo stock performance vs 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" 60 80 100 120 140 160 180 200 VALEO NISSIN SOGEFI PIRELLI AKEBONO BRAKE IND. BREMBO MICHELIN FA
Slide 19: under the p rotection of the law, al lso in connection with I I.P.R.,
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 use and disposal, The manager in charge of the Company’s financial reports. Matteo Tiraboschi, declares, pursuant to paragraph 2 of