Brembo (BRE) Q4 2025 earnings summary

Executive summary

• FY 2025 revenues were €3,702.7 million, down 3.6% year-over-year, with EBITDA at €612.1 million and a margin of 16.5%.

• Net result for FY 2025 was €209.3 million, a 20.3% decrease compared to FY 2024.

• Q4 2025 revenues were stable at €912.7 million, with EBITDA margin at 16.4%.

• Market conditions were challenging, especially in Europe and North America, with China showing growth in lower segments.

• Strategic partnership signed with JAC Group and focus on integrated technology, digitalization, and sustainability.

Financial highlights

• FY 2025 EBITDA declined 7.4% to €612.1 million (16.5% margin); EBIT dropped 14.5% to €336.5 million (9.1% margin) year-over-year.

• Net financial charges increased to €40.8 million from €27.4 million in FY 2024.

• Total capex/net investments for FY 2025 was €440.7 million, including €33.6 million in leased assets.

• Net financial debt rose to €719.2 million at year-end 2025, up from €360.4 million.

• R&D (cost + capex) accounted for 6.1% of sales.

Outlook and guidance

• FY 2026 revenues and EBITDA margin expected to be in line with FY 2025 on a like-for-like exchange rate basis.

• Total capex/investments for 2026 projected at approximately €350 million.

• Net financial debt expected below €700 million.

• Market outlook for 2026 remains cautious due to geopolitical and sector challenges.