Brembo’s Board of Directors Approved the Results for the First Half of 2011: Revenues Amounted to €632.7 Million (+19%), ...

Stezzano, 29 July 2011

For immediate release

Brembo's Board of Directors Approved the Results for the First Half of 2011:

Revenues Amounted to 632.7 Million (+19%), Net Profit Amounted to 24.7 Million (+32.6%).
Compared to the first half of 2010: Revenues: 632.7 million (+19.0%). EBITDA: 81.1 million (+19.4%). EBIT: 42.9 million (+34.7%). Net profit: 24.7 million (+32.6%). Net financial debt: 281.4 million, up by 12.6 million due to the investments made during the period Highlights for the first half of 2011: H1 2011 (million) Revenues EBITDA
% on revenues

H1 2010 531.6 67.9
12.8%

11/10 +19.0% +19.4% +34.7% +42.2% +32.6% +12.6

632.7 81.1
12.8%

EBIT
% on revenues

42.9
6.8%

31.8
6.0%

Pretax profit Net profit Net financial debt

37.8 24.7 281.4

26.6 18.7 268.8

Highlights of the second quarter of 2011: Q2 2011 (million) Revenues EBITDA
% on revenues

Q2 2010 287.5 36.9
12.8%

% 11/10 +11.5% +15.3% +28.1% +23.3% +12.6%

320.5 42.6
13.3%

EBIT
% on revenues

23.2
7.2%

18.1
6.3%

Pretax profit Net profit

20.9 13.5

17.0 12.0

G r oup Act ivit i es i n t h e Fir st Half o f 2 011 The Board of Directors of Brembo chai red by Alberto Bombassei met today and approved the Group's results for the first half of 2011: Group's consolidated revenues amounted to 632.7 million, up 19% compared to the same period of the previous year. During the first half of 2011 all businesses showed a positive performance: growth was mainly driven by car applications (+15.6%), commercial vehicles (+31.5%) and motorbikes
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(+22.5%); the passive safety and the racing segments also posted good performances, increasing by 29% and 20%, respectively. At geographical level, growth is also evenly distributed: Germany, which con tinues to be Brembo's number-one market, acc ounting for the 21.6% of total revenues, increased 19.7%, Italy 26.6%, the UK 22.8% and France 39.7%. The NAFTA area, the Group's third reference market afte r Italy, accounting for 18.1% of total revenues for the period, increased 8.1%. Emerging ma rkets c ontinue to show significant incre ases in sales, specifically India grew by 36%, China 14.2% and Brazil 16.7%. Japan increased by 23.5%. In H1 2011, the cost of sales and other op era ting costs amoun ted to 425.4 million, representin g 67.2% of revenues, essentially in line with the figure of 67% for the same period in the previous year. Personnel costs for the first half of 2011 amounted to 126.3 million, with a 20% ratio on revenues, substantially in line with the same period of the previous year. At 30 June 2011, the workforce numbered 6,387 (5,904 at 31 December 2010 and 5,603 at 30 June 2010). The increase was primarily due to the rise in the number of employees required for the higher level of production. EBITDA for the first half was 81.1 million (12.8% of revenues), up 19.4% on the amount of 67.9 million in the first half of 2010 (12.8% of revenues). EBIT amounted to 42.9 million (6.8% of revenues), compared to 31.8 million for the first half of 2010 (6% of revenues), after depreciation and amortisati on of 38.2 million (36.1 million for the same period of 2010). Net interest expenses amounted to 4.5 million, compared to 4.1 million in the first half of 2010. Based on tax ra tes applicable for the year unde r current tax regulati ons, estimated tax ation amounted to 12.6 million (8.1 million in the first half of 2010). The tax rate for the period was 33.4%, compared to 30.5% for the first half of 2010. The period ended with a net profit of 24.7 million, up 32.6% compared to the same period of the previous year. Net debt wen t from 268.8 million at 30 June 2010 to 281.4 million, up by 12.6 million, mainly due to the significant production investments made during the period and the dividend pay-out in May.

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G r oup ' s R esul t s fo r t he S ec on d Qu ar t er o f 2 011 In the second quarter alon e, revenues amounted to 320.5 million, up 11.5% compared to the same period of 2010. EBITDA amounted to 42.6 million (13.3% of revenues), up by 15.3% compared to the same period of 2010. EBIT was 23.2 million (7.2% of revenues). The quarter ended with a ne t profit of 13.5 million, up 12.6% compared to the same period of the previous year. Significant Events Aft er 30 June 2011 The Board of Directors of Brembo S.p.A. approved today the planned merger of the company Brembo Interna tional S.p.A. into Brembo S.p.A. From early July 2011, Brembo has been official supplier of the Truck Sport team Lutz Bernau at the FIA Eu ropean Truck Championship. The agreement ma rks Brembo's entrance in the segment of racing trucks and is an importan t step, which -- after F1, MotoGP , Superbike, Nascar, among others -- consolidates Brembo's Intern ational leade rship in the production of braking systems for racing vehicles. Outlook The order backlog forecasts c onfirm that sales will con tinue to grow in the rest of the year, across the various business areas in which the Group opera tes, althou gh the ex treme uncertainty of the internati onal macroeconomic scenario con tinues to require grea t prudence. The effort made to simultaneously start ac tivities in the four new p roduction investmen ts and the utmost a tten tion to the c ontainmen t of s tart-up cos ts will con tinue ove r the coming months.

The manager in charge of the Company's financial reports, Matteo Tiraboschi, declares, pursuant to paragraph 2 of Article 154-bis of Italy's Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documented results, books and accounting records. Annexed hereto are the Income Statement, Balance Sheet and Cash Flow Statement for which the auditing process by the independent auditors is currently ongoing. For additional information: Investor Relator Matteo Tiraboschi Tel. +39 035 605 2899 Email: ir@brembo.it www.brembo.com Communications Manager Thanai Bernardini Tel. +39 035 605 2277 Mobile. +39 335 7245418 Email: press@brembo.it Media Relation Consultant: COMMUNITY Consulenza nella comunicazione Tel. +39.02.89404231 Giorgio Maugini Mobile 348 3219 990 Marco Rubino - Mobile 335 6509 552 Pasquo Cicchini Mobile 345 1462429

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CONSOLIDA TED INCOME STA TEMENT - IFRS A 30.06.2011 632.7 5.7 5.9 (317.6) (119.3) (126.3) 81.1 12. 8% (38. 2) 42.9 6.8% (4. 5) (0. 5) 37.8 6.0% (12. 6) 25.2 4.0% (0. 5) 24.7 3.9% 0.38 B 30.06.2010 531. 6 5. 5 5. 8 (270.0) (97.5) (107.6) 67. 9 12.8% (36.1) 31. 8 6.0% (4.1) (1.1) 26. 6 5.0% (8.1) 18. 5 3.5% 0. 2 18. 6 3.5% 0.29 (A - B) CHA NGE 101.1 0.2 0.0 (47.7) (21.8) (18.7) 13.1 C Q2 '11 320.5 3.2 3.1 (158.9) (61.2) (64.1) 42.6 13.3% (19.4) 23.2 7.2% (2.0) (0.3) 20.9 6.5% (7.1) 13.8 4.3% (0.3) 13.5 4.2% 0.20 D Q2 '10 287.5 3.3 2.9 (151.3) (51.6) (53.9) 36.9 12.8% (18.9) 18.1 6.3% (0.5) (0.7) 17.0 5.9% (4.9) 12.0 4.2% (0.0) 12.0 4.2% 0.18 (C-D) CHA NGE 33.0 (0.0) 0.2 (7.5) (9.7) (10.3) 5.7

(euro million)
Sa les o f goo d a nd ser v ices Other reven ues and incom e Co sts for ca pitalise d inter nal wor ks Co st of r aw ma terials, con su mables, go ods and chan ge in invento ries Other oper ating costs f or pr oduction Per sonnel expenses GROSS OPERA TING INCOME % o f sales De preciation, amor tization a nd othe r wr ite- downs NET OPERA TING INCOME % o f sales Ne t financial incom e (char ges) Ne t financial incom e (char ges) fro m investme nts INCOME (LOSS) BEFORE TA XES % o f sales Ta xes INCOME (LOSS) BEFORE MINORITY INTERESTS % o f sales Minor ity inter ests NET INCOME (LOSS) FOR THE PERIOD % o f sales Ba sic e ar ning per Shar e/ dilute d e ar nings per s har e (in eur o)

% 19.0% 3.5% 0.5% 17.7% 22.4% 17.4% 19.4%

% 11.5% - 0.6% 6.6% 5.0% 18.8% 19.0% 15.3%

(2.1) 11.0

5.8% 34.7%

(0.6) 5.1

3.1% 28.1%

(0.4) 0.6 11.2

10.4% - 55.6% 42.2%

(1.5) 0.4 3.9

309.8% -54.1% 23.3%

(4.5) 6.7

55.7% 36.3%

(2.2) 1.8

44.0% 14.7%

(0.6) 6.1

-399.4% 32.6%

(0.3) 1.5

647.5% 12.6%

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C ONS OLID ATED BAL ANC E SHEET - IF RS A B 31 .12 .20 10 C 3 0.0 6. 20 10 A-B CHANGE A-C C HAN GE

(e ur o milli on) ASS ETS N ON-CU RRENT ASS ETS Pr operty , plant, equipment and other equipment Dev elopment cost s Goodwil and ot her undefined useful life assets Other intangible assets Inv estments accounted for using the equity method Other financial assets (inv estment s in ot her companies and der iv ativ es) Other non- cur rent asset s Deferred tax assets TOTAL NO N-CU RRENT ASS ETS
C UR REN T AS SETS Inv entories T rade receiv ables and receiv ables fr om other Group companies Other receivables and current assets Financial cur rent asset s and deriv at iv es Cash and cash equiv alents TOTAL C URR EN T AS SETS N ON-CU RRENT ASS ETS HELD F OR SALE AND DISC ONTINUED O PERATIONS TOTAL ASS ETS EQU ITY AND L IABILITIES G ROU P EQU ITY Share capit al Other reserv es Retained earnings Pr of it / (loss) for t he period TOTAL G ROUP EQUITY MIN ORITY INTERESTS TOTAL EQUITY N ON-CU RRENT L IABILITIES Non-current payables to banks Other non- cur rent financial pay ables Other non- cur rent pay ables Pr ov isions for contingencies and charges Long term pr ov isions for employ ee benef it s Deferred tax liabilities TOTAL NO N-CU RRENT L IABILITIES C UR REN T LIABIL ITIES Current pay ables to banks Other current f inancial payables T rade pay ables and payables t o other Gr oup companies T ax pay ables Other current pay ables TOTAL C URR EN T LIABIL ITIES TOTAL EQ UITY AND L IABIL ITIES

30 .0 6.2 01 1

3 59 .1 39 .9 40 .4 19 .6 21 .8 0 .1 0 .4 20 .6 5 01 .9

32 3.0 3 9.2 4 4.8 2 0.2 2 2.5 0.2 0.5 2 0.8 47 1.2

3 14 .1 40 .7 45 .7 24 .0 23 .4 0 .2 1 .5 18 .1 4 67 .6

36 .1 0 .7 (4 .3) (0 .6) (0 .7) (0 .0) (0 .1) (0 .3) 30 .7 6 .5% 25 .3 20 .7 (0 .2) 0 .0 8 .5 54 .4 11 .0 % 0 .0 0 .0% 85 .0

45 .0 (0.8 ) (5.3 ) (4.4 ) (1.6 ) (0.0 ) (1.1 ) 2 .4 34 .3 7.3 % 46 .2 (3.5 ) 3 .4 (0.2 ) 13 .9 59 .8 1 2.2 % 0 .0 0.0 % 94 .0

2 07 .0 2 22 .0 36 .3 0 .5 84 .8 5 50 .6 0 .0 1 ,0 52 .4

18 1.7 20 1.3 3 6.5 0.4 7 6.3 49 6.2 0.0 96 7.4

1 60 .8 2 25 .5 32 .9 0 .7 70 .9 4 90 .8 0 .0 9 58 .4

34 .7 1 07 .0 1 48 .7 24 .7 3 15 .1 8 .3 3 23 .4

3 4.7 12 0.9 13 0.1 3 2.3 31 8.0 7.8 32 5.9

34 .7 1 29 .5 1 21 .6 18 .7 3 04 .4 7 .8 3 12 .3

0 .0 (13 .9) 18 .6 (7 .5) (2 .9) (0 .9 %) 0 .4 5 .4% (2 .5)

0 .0 (2 2.5 ) 27 .1 6 .1 10 .7 3.5 % 0 .4 5.5 % 11 .1

2 32 .9 23 .4 4 .7 5 .8 19 .7 9 .6 2 96 .1

19 9.7 2 5.7 2.4 5.0 2 0.2 1 1.2 26 4.3

1 50 .4 26 .8 1 .1 7 .1 20 .9 10 .5 2 16 .7

33 .1 (2 .3) 2 .3 0 .8 (0 .5) (1 .6) 31 .8 12 .0 % 14 .2 (1 .8) 34 .4 6 .0 2 .9 55 .7 14 .8 % 85 .0

82 .4 (3.4 ) 3 .6 (1.3 ) (1.2 ) (0.9 ) 79 .3 3 6.6 % 1 .0 (5 3.8 ) 50 .6 2 .6 3 .2 3 .6 0.8 % 94 .0

1 03 .7 6 .3 2 58 .4 8 .6 56 .1 4 33 .0 1 ,0 52 .4

8 9.5 8.1 22 4.0 2.5 5 3.1 37 7.3 96 7.4

1 02 .7 60 .1 2 07 .8 5 .9 52 .9 4 29 .4 9 58 .4

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CA SH-FLOW ST A T EMENT - IFRS
(eur o million)
Cash and ca sh eq uivalent s at be ginning of per iod Net income for t he p er io d bef or e t axes Depreciation, amortis ation/Impairm ent loss es Gains/ Los s es f rom dis posal of f ixed as sets Write- ups/ Write- dow ns of shar eholdings Financial portion of funds r elating to payables for per sonnel Long- term pr ovis ions for employee benef its Other provisions net of utilisations Cash flows g ener at ed by op er atio ns Paid curr ent taxes Us es of long- term pr ovis ions f or employee benef its (Increas e) r eduction in curr ent ass ets : inventories financial ass ets tr ade receivables and receivables fr om companies valued us ing the equity method r eceivables f rom other s and other as sets Incr ease ( reduction) in curr ent liabilities : tr ade payables and payables to companies valued us ing the equity m ethod payables to others and other liabilities Trans lation dif ferences on cur rent as sets Net cash flow f ro m (for ) oper at ing activit ies 30.06.2011 40.6 37.8 38.2 ( 0.4) 0.5 0.4 0.8 0.8 78.1 ( 6.5) ( 1.6) ( 25.3) ( 0.0) ( 20.7) ( 1.2) 34.4 5.3 ( 2.7) 59.7 ( 10.1) ( 67.2) 0.0 0.2 1.1 (76.0) ( 19.6) 71.7 ( 30.6) 21.6 5.3 45.9 30.06.2010 (34.4) 26.6 36.1 ( 0.1) 1.1 0.5 ( 0.3) 1.5 65.4 ( 5.5) ( 1.6) ( 17.0) ( 0.6) ( 65.0) ( 6.5) 48.5 10.3 7.3 35.4 ( 9.5) ( 15.9) ( 10.0) 0.0 1.3 (34.2) ( 14.7) 85.8 ( 22.6) 48.5 49.7 15.3

Inves tments in: intangible as sets pr operty, plant and equipment Bus iness combination China (* ) Capital incr eas e in consolidated companies by minorities Price for dis posal, or reimburs ement value, of fixed as sets
Cash flow f ro m (for ) invest ment s Dividends paid in the period Loans and financing gr anted by banks and other financial institutions in the per iod Repayment of long-term loans Cash flow f ro m (for ) financing act ivit ie s Tot al cash f low Cash and ca sh eq uivalent at t he end o f pe riod (* ) Tr anslated us ing the exchange r ate at 30 June 2010.

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NET SA LES BREA KDOWN BY GEOGRA PHICA L A REA A ND A PPLICA TION A 30.06.2011 B % 30.06.2010 C Q2 ' 11 D Q2 '10

GEOGRA PHICA L A REA

%

A -B

%

%

%

C-D

%

(euro million)
Ita ly Ge rm any F r ance Unite d Kingdom Othe r EU c ountr ies India China Ja pa n Othe r Asi a Countr ies Br azil NAF T A Countr ie s Othe r Countr ie s Tot al 121.3 136.5 32.4 38.7 92.9 17.2 28.3 8.9 3.4 36.4 114.4 2.2 632.7 A 30.06.2011 19.2% 21.6% 5.1% 6.1% 14.7% 2.7% 4.5% 1.4% 0.5% 5.8% 18.1% 0.3% 100.0% 95.8 114.1 23.2 31.5 80.7 12.7 24.7 7.2 2.4 31.2 105.8 2.3 531.6 18.0% 21.5% 4.4% 5.9% 15.2% 2.4% 4.7% 1.4% 0.5% 5.9% 19.9% 0.4% 100.0% 25. 5 22. 5 9. 2 7. 2 12. 3 4. 6 3. 5 1. 7 1. 0 5. 2 8. 6 (0. 1) 101.1 26. 6% 19. 7% 39. 7% 22. 8% 15. 2% 36. 0% 14. 2% 23. 5% 42. 8% 16. 7% 8. 1% - 4. 9% 19.0% 64.3 69.6 16.8 18.7 46.4 8.5 14.3 3.5 1.8 18.5 57.3 0.9 320.5 C Q2 ' 11 20.0% 21.7% 5.3% 5.8% 14.5% 2.6% 4.5% 1.1% 0.6% 5.8% 17.9% 0.3% 100.0% 49.0 64.4 13.2 15.8 44.0 7.0 13.7 4.6 0.8 16.8 56.8 1.2 287.5 D Q2 '10 17. 0% 22. 4% 4. 6% 5. 5% 15. 3% 2. 5% 4. 8% 1. 6% 0. 3% 5. 9% 19. 8% 0. 4% 100.0% 15. 3 5. 2 3. 6 2. 9 2. 4 1. 4 0. 6 (1. 2) 1. 0 1. 7 0. 4 (0. 3) 33.0 31. 2% 8. 1% 27. 5% 18. 2% 5. 4% 20. 3% 4. 0% -25. 1% 124. 5% 9. 8% 0. 8% -25. 8% 11.5%

A PPLICA TION

B % 30.06.2010

%

A -B

%

%

%

C-D

%

(euro million)
Auto Motor bike Commer cia l Ve hicle s Ra cing Pass ive S a fe ty Misce lla ne ous Tot al 402.3 73.4 97.1 43.8 13.3 2.8 632.7 63.6% 11.6% 15.4% 6.9% 2.1% 0.4% 100.0% 348.0 59.9 73.9 34.0 11.1 4.7 531.6 65.5% 11.3% 13.9% 6.4% 2.1% 0.9% 100.0% 54. 2 13. 5 23. 3 9. 8 2. 2 (1. 9) 101.1 15. 6% 22. 5% 31. 5% 29. 0% 20. 0% - 41. 3% 19.0% 207.1 36.6 50.6 19.3 6.0 1.1 320.5 64.6% 11.4% 15.8% 6.0% 1.9% 0.3% 100.0% 198.1 29.7 33.7 16.2 6.3 3.6 287.5 68. 9% 10. 3% 11. 7% 5. 6% 2. 2% 1. 2% 100.0% 8. 9 6. 8 16. 9 3. 1 (0. 3) (2. 5) 33.0 4. 5% 23. 0% 50. 3% 19. 2% - 5. 0% -70. 7% 11.5%

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MAIN RATIOS Net operating incom e/Sales Res ult before tax es /Sales Capital Ex penditure/Sales Net Financial indebtedness /Shareholders' equity Financial charges/Sales Financial charges/Net Operating I ncom e ROI ROE

30.06.2007

30.06.2008

30.06.2009

30.06.2010

30.06.2011

9.9% 9.0% 7.6% 81.8% 0.9% 9.6% 16.8% 19.4%

9.1% 7.7% 12.1% 102.7% 1.1% 12.4% 15.4% 18.9%

2.5% 0.8% 7.0% 110.2% 1.7% 68.0% 3.4% -0.8%

6.0% 5.0% 6.4% 86.1% 0.8% 12.9% 10.7% 11.9%

6.8% 6.0% 12.2% 87.0% 0.7% 10.6% 13.8% 15.7%

No t e s: ROI: Ne t o pe rat in g in co me / Ne t inv est ed c apit al mu lt iply by ye ar d ays/ pe riod days. ROE : Re su lt b ef ore min orit y int e re st s/ S h are ho lde rs eq uit y mu lt ip ly b y ye ar d ays/ pe rio d day s.

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