Italy's Brembo targeting 2014 EBITDA margin of 14 percent

MILAN Mon May 13, 2013 12:45pm EDT

Related News

MILAN May 13 (Reuters) - Italian brakes manufacturer Brembo expects margins to grow in 2014 after a flat performance this year, helped by its exposure to emerging markets, Deputy Chairman Matteo Tiraboschi said on Monday.

Brembo is targeting EBITDA margin to remain stable at 12.4 percent this year, compared to 2012, before growing to 14 percent in 2014, Tiraboschi told Reuters in an interview.

He also confirmed a 2013 target of a 7-9 percent rise in revenues in spite of slowing car sales on its main German market and predicted a further increase next year.

Earlier in the day, the Italian firm posted a slight fall in first-quarter net profit to 20.6 million euros ($26.7 million), while revenues rose 6.3 percent on the year to 371.9 million euros. ($1 = 0.7703 euros) (Reporting By Stefano Rebaudo, writing by Danilo Masoni)