Brembo's BoD approved the Group's results as of 30 June 2009

STEZZANO, ITALY, Aug 27 (MARKET WIRE) --

Brembo's BoD approved the Group's results as of 30 June 2009.

Margins remained positive despite the decrease in turnover.

Net debt decreased by EUR 42.2 million (-12.2%) compared to 31 March 2009.

- Revenues amounted to EUR 404.2 million (-28.8% compared to H1 2008);

- EBITDA amounted to EUR 48.2 million (11.9% of sales);

- EBIT amounted to EUR 10.1 million (2.5% of sales);

- Net result was EUR -0.8 million;

- Worldwide workforce decreased by 831 (-14%) compared to H1 2008 (on a
like-for-like basis in terms of consolidation area).

Highlights of the half-year
period:

+---------------------+----------+----------+------------+
| (EUR million) | H1 2009 | H1 2008 | Var% 09/08|
+---------------------+----------+----------+------------+
| Revenues | 404.2| 567.9| -28.8%|
+---------------------+----------+----------+------------+
| EBITDA | 48.2| 80.6| -40.2%|
+---------------------+----------+----------+------------+
| EBIT | 10.1| 51.5| -80.4%|
+---------------------+----------+----------+------------+
| Income before taxes| 2.9| 43.6| -93.3%|
+---------------------+----------+----------+------------+
| Net income | (0.8)| 30.6| -102.5%|
+---------------------+----------+----------+------------+
| | 30.06.09| 31.03.09| |
+---------------------+----------+----------+------------+
| Net financial debt | 303.4| 345.6| -12.2%|
+---------------------+----------+----------+------------+
+---------------------+----------+----------+------------+

Group's Consolidated H1 2009 Results

Consolidated revenues of the Brembo Group for the first half of 2009
amounted to EUR 404.2 million, down 28.8% compared to the same period of
the previous year. On a like-for-like basis in terms of consolidation
area, net sales decreased by 32.6%.

All sectors in which the Company operates are showing signs of distress.
In particular, applications for commercial vehicles, following on the long
growth trend that had characterised previous years, declined by 48.2%,
compared to H1 2008. Car applications decreased 28% as they were affected
not only by the difficult market situation, but also by the stock-cutting
policies implemented by sales networks. Declines were also posted, albeit
to a lesser extent, in the motorbike segment (-17.2%) and racing segment
(- 7.7%). The passive safety sector showed growth of 33.4% due to the
change in the consolidation area.

The contraction was widespread in geographical terms, involving both
European countries, particularly the United Kingdom (-35.8%), Germany (-
34.7%), France (-33.4%), and Italy (-32.8%), and Asia (-22.2%) and the
NAFTA area (-22.1%). Germany and the United Kingdom, which had reported
the most significant declines in the first quarter of the year, showed
some signs of improvement, posting smaller losses than in Q1. Brazil
reported a growth of 2.3%.

In the first six months of 2009, the cost of sales and other operating
costs amounted to EUR 261.8 million, representing 64.8% of turnover,
compared to 66% in the previous year.

During the first six months of the year, the Company reported: capital
gains of EUR 3.9 million on the sale of 50% of Brembo Ceramic Brake
Systems S.p.A. (EUR 1.7 million during the previous year, tied to the
disposal of several buildings in Italy); EUR 4 million by way of
compensation from a supplier; and EUR 1.2 million subsidies for research
investments (EUR 1.1 million in 2008).

Personnel expenses amounted to EUR 94.2 million (23.3% of sales) for the
half-year, compared to EUR 112.5 million in H1 2008 (19.8% of sales). The
cost-cutting measures taken by the Company partially offset the decrease
in sales volumes.

The workforce numbered 5,375 at June 30, 2009. On a like-for-like basis in
terms of consolidation area, the number of employees fell by 831 (-14%) at
30 June 2008.

Gross operating income amounted to EUR 48.2 million (11.9% of sales)
during the six months, down by 40.2% compared to the previous year.

The item "Depreciation, amortisation and impairment losses" amounted to
EUR 38.1 million in the first half of 2009, up by 31% compared to H1
2008. The increase in said item was due both to the significant
investments undertaken in the second half of 2008 and to impairment
losses (for an overall amount of EUR 3.8 million) recognised on
development costs, due to the discontinuation of some projects by
clients, and on goodwill following the revision of the forecasts for a
subsidiary.

Net operating income amounted to EUR 10.1 million, or 2.5% of the Group's
sales.

Interest expenses were EUR 6.9 million during the half-year (EUR 6.4
million in H1 2008) and consist of exchange losses of EUR 0.7 million
(compared to exchange gains of EUR 1.1 million in H1 2008) and net
interest expenses of EUR 6.2 million (EUR 7.5 million in H1 2008). The
latter item benefited from a decrease in interest rates.

Taxes are estimated to come to EUR 4.3 million for the six months of the
year (EUR 13.5 million in H1 2008) due to the effect of IRAP (regional
production tax) in Italy and to the recognition, on a prudential basis, of
deferred tax assets.

The period ended with a loss of EUR 0.8 million.

Net debt amounted to EUR 303.4 million at 30 June 2009, down from EUR
345.6 million at 31 March 2009 and EUR 337.4 million at 31 December 2008.
The improvement in net financial position is the result of the steps
taken to reduce inventories and receivables and the downsizing of the
investment policy in order to react to declining demand and shrinking
margins.

The Second Quarter of 2009

The automotive market remains among those most severely affected by the
recession; the first signs of recovery began to appear in the second
quarter of 2009, though the market continued to post decreases compared to
the same period of 2008.

Sales of goods and services amounted to EUR 208.0 million in the second
quarter, down by 29.4% compared to the previous year. On a like-for-like
basis in terms of consolidation area, the decline was 31.9%.

In the second quarter, although demand remained weak, the Company began to
reap the benefits of its cost-containment measures: gross operating income
amounted to EUR 31.0 million (14.9% of revenues, compared to 8.8% in the
first quarter).

During the quarter, certain non-recurring items, which are discussed above
in the commentary on the half-year, were recognized under the item "Other
revenues and income". Net of the above items, gross operating income was
11.1% of revenues.

Depreciation, amortisation and impairment losses increased sharply during
the quarter to EUR 21.2 million (+42.7% on the previous year), due in part
to the impairment losses on development costs and goodwill discussed
above. Net operating income amounted to EUR 9.8 million (4.7% of revenues,
compared to 0.2% in the first quarter). Net of the foregoing effects, net
operating income was 2.7% of revenues.

The second quarter ended with a net income of EUR 6.5 million (3.1% of
revenues).

Significant Events After 30 June 2009

In July 2009, the Sanluis Group and the Brembo Group reached an agreement
to close arbitration proceedings in the United States. On 19 August,
Brembo International acquired 24% of Brembo Rassini S.A. de C.V.
(currently Brembo Mexico Puebla S.A. de C.V.), in return for the sale of
its equity interest in Fundimak S.A. de C.V. The transaction involved a
net expenditure of $1.4 million.

On 31 July 2009, Brembo and Managing Director Mauro Pessi reached an
agreement as to the consensual termination of the latter's employment
contract, under which he will resign from the position of Managing
Director, as well as all other positions filled with Group companies,
effective 31 August 2009. In connection with the foregoing, on 31 July
2009 the Board of Directors appointed Brembo's Chairman, Alberto
Bombassei, to the position of Managing Director effective 1 September
2009.

Outlook

Brembo continues with its cost-cutting policy and strict management of
operating leverage, in order to limit the effects of the sharp decline in
demand.

The remainder of the year should witness signs of recovery, provided that
the current indications of an improvement in the conditions of the markets
on which the Group operates are confirmed.

However, applications for commercial vehicles will continue to show
distress, with possible recovery visible only in the coming year.

The Group remains strongly committed to continuing with its international
development plans, which focus in particular on China, India and Brazil.

Annexed hereto are the Income Statement, Balance Sheet and Cash Flow
Statement for which the auditing process by the independent auditors is
currently ongoing.

The manager in charge of the Company's financial reports, Matteo
Tiraboschi, declares, pursuant to paragraph 2 of Article 154-bis of
Italy's Consolidated Law on Finance, that the accounting information
contained in this press release corresponds to the documented results,
books and accounting records.

This information is provided by HUGIN

For additional information:

Investor Relations:
Matteo Tiraboschi
Tel. +39 035 605 2899
Tel. +39 035 605 2223
e-mail: Email Contact

www.brembo.com

Media Relations:
Francesca Muratori
Tel. +39 035 505 2576
e-mail: Email Contact

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