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Brembo Q3 profit climbs 62.6% YOY

Brembo SpA said its third-quarter normalized net income came to 12 euro cents per share, a gain of 60.7% from 7 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €37.9 million, an increase of 62.6% from €23.3 million in the prior-year period.

The normalized profit margin climbed to 7.4% from 5.3% in the year-earlier period.

Total revenue climbed 16.3% on an annual basis to €513.0 million from €440.9 million, and total operating expenses climbed 12.6% from the prior-year period to €452.4 million from €401.9 million.

Reported net income increased 42.0% year over year to €43.2 million, or 13 cents per share, from €30.4 million, or 9 cents per share.