assemblea degli azionisti 2015 - brembo · 2 brembo / 23 aprile 2015 "strictly confidential....
TRANSCRIPT
![Page 1: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/1.jpg)
Assemblea degli Azionisti 2015 Stezzano, 23 April 2015
![Page 2: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/2.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 2
Agenda
• RISULTATI FY 2014
• MERCATI
• NUOVI INVESTIMENTI
• IL TITOLO BREMBO
![Page 3: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/3.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Risultati FY 2014 Sintesi del Conto Economico Consolidato
3
Milioni di € FY 14 % sales FY 13 % sales % 14/13
Ricavi 1.803,3 100% 1.566,1 100% 15,1%
EBITDA 279,8 15,5% 213,5 13,6% 31,1%
Ammortamenti (101,4) 5,6% (90,7) 5,8% 11,8%
EBIT 178,4 9,9% 122,8 7,8% 45,3%
Oneri finanziari netti (13,5) 0,8% (18,5) 1,2% -26,7%
Imposte (36,2) 2,0% (15,3) 1,0% 137,1%
Tax rate -22,0% -14,6%
RISULTATO NETTO 129,1 7,2% 89,0 5,7% 45,0%
![Page 4: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/4.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Ricavi FY 2014 (Analisi variazione ricavi - Milioni di €)
4
US $, Brazil. Real,
Argentine Peso
Indian Rupee
Chinese Rmb
![Page 5: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/5.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 5
Ricavi FY 2014 (Milioni di € - Contributo % dei business)
![Page 6: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/6.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Ricavi 2014 per applicazione
Al netto
effetto cambi:
+ 16.4%
+18,6% +15,5% -2,2% +9,2%
6
(€ Mio)
![Page 7: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/7.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 7
Milioni di € FY 14 % sales FY 13 % sales % 14/13
Ricavi 1.803,3 100% 1.566,1 100% 15,1%
EBITDA 279,8 15,5% 213,5 13,6% 31,1%
Ammortamenti (101,4) 5,6% (90,7) 5,8% 11,8%
EBIT 178,4 9,9% 122,8 7,8% 45,3%
Oneri finanziari netti (13,5) 0,8% (18,5) 1,2% -26,7%
Imposte (36,2) 2,0% (15,3) 1,0% 137,1%
Tax rate -22,0% -14,6%
RISULTATO NETTO 129,1 7,2% 89,0 5,7% 45,0%
Risultati FY 2014 Sintesi del Conto Economico Consolidato
![Page 8: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/8.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
EBITDA FY 2014 (€ Mio)
8
![Page 9: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/9.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 9
Milioni di € FY 14 % sales FY 13 % sales % 14/13
Ricavi 1.803,3 100% 1.566,1 100% 15,1%
EBITDA 279,8 15,5% 213,5 13,6% 31,1%
Ammortamenti (101,4) 5,6% (90,7) 5,8% 11,8%
EBIT 178,4 9,9% 122,8 7,8% 45,3%
Oneri finanziari netti (13,5) 0,8% (18,5) 1,2% -26,7%
Imposte (36,2) 2,0% (15,3) 1,0% 137,1%
Tax rate -22,0% -14,6%
RISULTATO NETTO 129,1 7,2% 89,0 5,7% 45,0%
Risultati FY 2014 Sintesi del Conto Economico Consolidato
![Page 10: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/10.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Oneri Finanzari
10
Milioni di € 31.12.14 31.12.13 Δ 14/13
(A) Oneri finanziari netti (12,7) (11,2) (1,5)
Differenze cambio nette (1,0) (7,3) 6,3
Oneri finanziari da partecipazioni 0,1 (0,0) 0,1
Oneri finanziari netti totali (13,5) (18,5) 4,9
(B) Altri proventi/oneri finanziari 0,7 2,1 (1,3)
(A-B) Oneri finanziari netti (13,4) (13,3) (0,1)
Costo dell'indebitamento 2,7% 3,4%
Ricavi 1.803,3 1.566,1 237,2
Oneri fin. netti (A)/ Ricavi -0,7% -0,7%
![Page 11: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/11.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Tax Rate
11
Milioni di € FY 14 FY 13
Imposte correnti 42,7 22,3
Imposte differite (6,5) (7,0)
Totale imposte 36,2 15,3
Pre-tax profit 164,9 104,4
Tax rate -22,0% -14,6%
DTA Rep. Ceca 5,2 0,0
DTA Polonia 3,6 13,0
Altro (0,4) 3,0
Totale imposte teoriche 44,6 31,3
Tax rate esclusi effetti straordinari -27,0% -30,0%
![Page 12: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/12.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Posizione Finanziaria Netta (€ Mio)
12
![Page 13: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/13.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Composizione Indebitamento
13
Milioni di € 31.12.2014 31.12.2013 D 14/13
Attività finanziarie correnti 216,2 116,1 100,1
Passività finanziarie correnti 209,3 177,3 31,9
Indebitamento fin. netto a breve (6,9) 61,3 (68,2)
Attività finanziarie a M/L 0,0 0,0 0,0
Passività finanziarie a M/L 277,3 259,2 18,1
Indebitamento fin. netto a lungo 277,3 259,2 18,1
INDEBITAMENTO FIN. NETTO 270,4 320,5 (50,1)
![Page 14: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/14.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
19.1%
14
Struttura del Debito
![Page 15: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/15.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Struttura Patrimoniale
15
![Page 16: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/16.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Principali Indicatori
16
![Page 17: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/17.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 17
Agenda
• RISULTATI FY 2014
• MERCATI
• NUOVI INVESTIMENTI
• IL TITOLO BREMBO
![Page 18: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/18.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
312,1 372,8
463,1
2012 2013 2014
+ 24,2%
18
+19,4%
Ricavi per area geografica
![Page 19: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/19.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
329,6 376,0
432,8
2012 2013 2014
+ 15,1%
19
+ 14,1%
Ricavi per area geografica
![Page 20: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/20.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
207.7 212.1
242.1
2012 2013 2014
+14,2%
20
+2,1%
Ricavi per area geografica
![Page 21: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/21.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
100,6 114,7
144,6
2012 2013 2014
+ 26,1%
21
+ 14,1%
Ricavi per area geografica
![Page 22: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/22.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
58,2
69,7
81,9
2012 2013 2014
+17,4%
22
+19,9%
Ricavi per area geografica
![Page 23: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/23.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
164,0
173,1
180,7
2012 2013 2014
+4,4%
23
+5,5%
Ricavi per area geografica
![Page 24: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/24.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
88,3 89,2
79,1
2012 2013 2014
-11,3%
24
+1,0%
S/AMERICA
Ricavi per area geografica
![Page 25: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/25.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
34,0 35,2
41,0
2012 2013 2014
+16,6%
25
+3,5%
Ricavi per area geografica
![Page 26: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/26.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
59,9
81,3
93,1
2012 2013 2014
+14,6%
26
+35,8%
Ricavi per area geografica
![Page 27: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/27.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
19,6
21,8
23,2
2012 2013 2014
+6, 6%
27
+ 11,0%
Ricavi per area geografica
![Page 28: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/28.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 28
Ricavi per applicazione – Auto
![Page 29: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/29.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 29
72,2% Auto
Ricavi per applicazione – Auto
![Page 30: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/30.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 30
Ricavi per applicazione – Moto
![Page 31: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/31.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 31
9,6% Moto
72,2% Auto
Ricavi per applicazione – Moto
![Page 32: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/32.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 32
Ricavi per applicazione – Ve.Co.
![Page 33: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/33.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 33
9,6% Moto
10,4% Ve.Co.
Ricavi per applicazione – Ve.Co.
72,2% Auto
![Page 34: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/34.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 34
Ricavi per applicazione – Racing
![Page 35: Assemblea degli Azionisti 2015 - Brembo · 2 brembo / 23 Aprile 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the](https://reader034.vdocuments.mx/reader034/viewer/2022042711/5f6fa07d77895e17d2042093/html5/thumbnails/35.jpg)
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 35
10,4% Ve.Co.
9,6% Moto
72,2% Auto
7,3% Racing
Ricavi per applicazione – Racing
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Agenda
• RISULTATI FY 2014
• MERCATI
• NUOVI INVESTIMENTI
• IL TITOLO BREMBO
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Nuovi investimenti / progetti
€ Million FY 14
Italia 40,3
Polonia 27,7
Rep. Ceca 23,1
USA 15,2
Cina 5,9
Brasile 4,1
Messico 3,2
India 1,7
Argentina 1,4
Altri 0,8
Investimenti netti 123,4
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 38
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 38
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 39
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 39
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 40
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 40
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 41
Nuovi investimenti – Italia Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 41
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 42
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 42
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 43
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 43
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 44
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 44
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 45
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 45
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 46
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 46
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Nuovi investimenti – Italia
brembo/ 27 April 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ 47
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 48
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 48
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 49
Nuovi investimenti – Italia
brembo/ 27 April 2015 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ 49
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 50
Nuovi investimenti – Italia
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo/ 27 April 2015 50
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 51
Nuovi investimenti
USA
• Investimento: $ 100 mio
• Tons: 80.000
• S.O.P: 2017
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 52
Nuovi investimenti
Messico
• Investimento: € 32 mio
• Tons: 14.000
• Output: 2.000.000 pinze AL
• S.O.P: 2016
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 53
Agenda
• RISULTATI FY 2014
• MERCATI
• NUOVI INVESTIMENTI
• IL TITOLO BREMBO
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Azionisti Brembo
54
2015 2014
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Maggiori Azionisti
n. azioni
possedute
% su Cap.
Sociale
NUOVA FOURB SRL 35.744.753 53,523%
BREMBO S.P.A (OWN SHARES) 1.747.000 2,616%
GOODMAN INV. COUNSEL LTD (CAN) 1.658.090 2,483%
GAMCO INVESTORS INC. (US) 1.565.000 2,343%
GOVERNMENT OF NORWAY 1.189.815 1,782%
MORGAN STANLEY (UK) 1.081.500 1,619%
CACEIS BANK FRANCE (FR) 988.628 1,480%
MONTANARO (IRL.) 918.824 1,376%
SFF MALTA HOLDING 795.500 1,191%
JP MORGAN FUNDS (LUX) 581.249 0,870%
FCP GROUPAMA (FR) 536.770 0,804%
N. totale azioni in circolazione 66.784.450
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Total Shareholder Return 2014
• Brembo (1.1-31.12.2014) : + 36.6%
• Brembo T.S.R. : + 39.1%
• FTSE MIB (1.1.-31.12.2014) : + 0.4%
• FTSE It.Star (1.1.-31.12.2014) : + 8.5%
56
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Le raccomandazioni degli analisti
• 7 positivi
• 5 neutrali
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Performance Brembo vs. indici (anno 2014)
58
FTSEMIB +0,4%
EURO STOXX TOTAL
MARKET VALUE
SMALL (EUR) INDEX +4,7%
BLOOMBERG EMEA
AUTO PARTS &
EQUIPMENT INDEX -6,0%
B R E M B O +36,6%
+8,5% ITSTAR
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015
Performance Brembo vs. indici (gennaio/aprile 2015)
59
+15,3% BLOOMBERG EMEA
AUTO PARTS &
EQUIPMENT INDEX
+18,6% EURO STOXX TOTAL
MARKET VALUE
SMALL (EUR) INDEX
+22,0% FTSEMIB
+34,9% B R E M B O
+34,4% ITSTAR
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20 anni di quotazione
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 62
20
x11,3 anni di quotazione
il valore del titolo
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 63
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 64
32
x8,2 età media collaboratori
numero delle nostre persone
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 65
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 66
87 % ricavi realizzati all’estero
incremento fatturato
x11
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 67
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 68
1.800
x8 brevetti depositati nel mondo
numero dischi venduti ogni anno
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 69
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19
x10 insediamenti produttivi nel mondo
incremento investimenti annui
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"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R. as well as copying and passing on to third parties“ brembo / 23 Aprile 2015 71
20 anni di quotazione Dividendi serie storica