March 5, 2015 / 4:10 PM / 4 years ago

UPDATE 1-Brembo sees 2015 sales growing, looking at M&A

(Adds details, quotes, shares)

MILAN, March 5 (Reuters) - Italian brakes maker Brembo is targeting slower sales growth of close to 10 percent and a stable EBITDA margin in 2015 as it invests in two new plants in the United States and Mexico, its deputy chairman said on Thursday.

The family-controlled company, which supplies brakes to car makers including Ferrari and Porsche, grew sales by 15 percent last year to 1.8 billion euros, while net profit increased by 45 percent to 129.1 million euros ($143 million).

“We expect continued growth in 2015, but not in double digits, we see revenues rising close to 10 percent,” Matteo Tiraboschi told Reuters.

“We will also try to keep our EBITDA margin in line with 2014, although it won’t be easy.”

Brembo’s EBITDA margin stood at 15.5 percent last year.

Tiraboschi said he expected growth in the United States, Europe and Asia, while its business in South America would remain under pressure.

He said the company was in a strong financial position and was on the lookout for assets to grow, either in the automotive sector or in aviation, an area where it already has made some initial investments.

“From a financial position this is the right moment to evaluate opportunities for non-organic growth,” he said. “There is nothing on the table at the moment but we are looking around with determination.”

Shares in the company, which have risen more than 20 percent so far this year, were up 3.9 percent at 34.7 euros by 1516 GMT, outperforming a 1.1 percent rise in Italy’s All-Share index .

Reporting by Agnieszka Flak; Editing by Vincent Baby

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