Brembo (BRE) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenues reached €909.0 million, down 1.5% year-over-year, with a 17.8% EBITDA margin and net profit up 58.9% to €65.0 million; 9M 2025 revenues were €2,790.0 million, down 4.7% year-over-year, with a 16.6% EBITDA margin and net profit at €162.8 million, down 17.4%.

• Aftermarket segment accounted for 14.8% of 9M 2025 sales and showed ongoing growth.

• Car applications made up 73.3% of sales, falling 6.0%, while motorbike and commercial vehicle applications dropped 12.3% and 12.0%, respectively; racing applications surged 47.7%.

• Expansion of high-tech carbon-ceramic disc production and launch of first caliper made with recycled aluminium.

Financial highlights

• Q3 2025 EBITDA increased 8.2% year-over-year to €161.9 million; EBIT rose 12.4% to €93.5 million.

• 9M 2025 EBITDA was €462.8 million (16.6% of sales), down 7.6% year-over-year; EBIT was €255.9 million (9.2% of sales), down 15.3%.

• Result before taxes for 9M 2025 was €228.97 million (8.2% of sales), down 17.0%.

• Net financial debt as of September 30, 2025, was €847.2 million, up from €637.0 million a year earlier.

• Net investments for 9M 2025 totaled €291.4 million.

Outlook and guidance

• FY 2025 revenues expected to be slightly below FY 2024 (down 2%) at constant exchange rates, with EBITDA margin above 16%.

• Capex guidance confirmed at €400 million; net debt expected at €780 million.