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Italy's Brembo sees 2013 sales growing 8 pct - vice chairman
March 5, 2013 / 4:26 PM / 5 years ago

Italy's Brembo sees 2013 sales growing 8 pct - vice chairman

MILAN, March 5 (Reuters) - Italian brakes manufacturer Brembo expects to post an 8 percent rise in revenues in 2013, the company’s executive vice chairman told Reuters on Tuesday.

The year 2013 “started well, the orders secured and the portfolio offer good hope for the first 6 months and for the whole year,” Matteo Tiraboschi said in a telephone interview.

Tiraboschi said margin on its core earnings should remain at current levels of 12.4-12.5 percent.

Asked about the dividend he said “if all goes as planned this year’s (0.4 euros per share) is a number we can propose again to shareholders in 2014.”

Earlier on Tuesday, Brembo said it would pay a 2012 dividend of 0.40 euros per share, up 33 percent on the year, as profit surged driven by lower tax and higher sales in its main German and North America markets. (Reporting By Stefano Rebaudo, writing by Stephen Jewkes, editing by Danilo Masoni)

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