Embed Size (px)
Citation preview
BREMBOmore than brakes
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Brembo at a glance
Sustainable growth
Q1 2006 results
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
• Passengers Cars: Top 10% of world production
Brembo at a glance
• World leader in luxury and top of the range automotive applications
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Brembo at a glance
• Motorcycle: Powered two wheels >500 cc.
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Brembo at a glance
• Commercial vehicles: light and medium trucks
up to 6.5 tons
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Brembo at a glance
• Racing : 100% top teams equipped with
group products
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Brembo at a glance
• Aftermarket: the widest range of product offered
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Brembo at a glance
• State of the art technology
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
• A unique selling proposition:
Brembo at a glance
PerformanceService
Style
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Focused on market …
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006Over 4,400 employees are working for Brembo in 16 plants, 9 countries, 3 continents
… with a global attitude
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Strategy: the results tell the story
181243
297353
454
530566
634678
712
0
200
400
600
800
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
Millions of €
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Brembo at a glance
Sustainable growth
Q1 2006 results
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Sustainable growth
• Growing with the right partner
• Increasing importance of Original Equipment
vs. After Market
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Sustainable growth – Passenger cars
VW Touareg
RenaultSport
Alfa 159
Alfa Brera
Audi Q7
Jeep Gran Cherokee SRT8
Range RoverSport
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Sustainable growth – Comm. vehicles
WorkhorseMotorhome
Mitsubishi Canter
Mercedes Vito
Mercedes Sprinter
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Sustainable growth – Motorcycles
Harley D. -Night Rod
Harley D. -Street Rod
Harley D. -V Rod
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Sustainable growth – Racing
Nascar
Ferrari Challenge
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Poland : new foundry and machining plant
• Opening ceremony : 20 February 2006
• Ramp-up until July 2006; full capacity: Jan. 2007 (depending on speed of parts homologation)
• Total investment : € 45 million
• Expected sales : € 120-130 million
Sustainable growth – The efficiency road
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Italy : Restructuring of disc production plants
• Maintenance and transfer of machines by end 2006 (3 to 6 months delay compared to the original time schedule due to high demand).
• New machining plant integrated with existing foundry: SoP July 2006, full capacity end 2006.
Sustainable growth – The efficiency road
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
India : 50/50 JV with Bosch
• Start of activity of the JV: 4 February 2006
• Total investment: € 6.5 million
• JV not consolidated
• Location: Pune (Bombay)
• Applications: motorcycles
Sustainable growth – Getting ready for the future
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Sustainable growth – Getting ready for the future
China : greenfield plant
• Total investment: € 15 million
• JV with SIMEST as financial partner
• Expected sales: € 20 million (2008)
• Location: Beijing
• Application: pass. cars and light commercial vehicles
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Sustainable growth – M & A
Looking for :
• New compentencies and know-how
• Economies of scale
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Brembo at a glance
Sustainable growth
Q1 2006 results
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Sales growth – Q1 2006
€ MlnQ1 05 Q1 06
176.4 201.5
+ 14.2%+ 25,1
Prices-0.9 %
Vol/Mix+ 13.1%
Forex+2.0%
Scope/
Business+12.2%
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Gross sales business segment – Q1 2006
Comm.vehicle
Car +11.8%
+15.4%
Total + 14.2%
+10.9%
Racing +28.4%
Motorbike
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Cost structure evolution
% of sales Q1 06
Personnel expenses
Cost of goods sold
EBITDA
Q1 05
Sales (€ mio) 176.4
20.0% 20.0%
65.1% 64.8%
14.9% 15.2%
201.5
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
EBITDA margin evolutionQ1 06
1.0%2.0%
0.9%
0.3%
15.2% 14.9%
8%
10%
12%
14%
16%
18%
1 2 3 4 5 6EbitdaQ105
SellingPrices
RawMaterialsVol/Mix Operations Ebitda
Q106
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
Cost structure evolution
% of sales Q1 06
D&A 4.4%
Financial charges (1.3%)
EBIT
Q1 05
5.4%
10.5% 9.8%
Net income 5.4% 5.2%
(1.3%)
Tax rate 39.2% 38.4%
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
193.1 222.3
28.0
9.1
22.130.0
100
120
140
160
180
200
220
NFP 31/12/05
Ebitda Investments NWC Fin. Charges+ tax
NFP 31/3/06
Cash-flow Q1 2006
€ millions
"Str
ictly
Conf
iden
tial.
©Br
embo
S.p
.A. r
eser
ves
allr
ight
sof
use
and
disp
osal
, un
der
the
prot
ectio
nof
the
law
, al
soin
con
nect
ion
with
I.P.
R., a
sw
ella
sco
pyin
gan
d pa
ssin
gon
to
third
part
ies"
Paris, 16th May 2006
