Brembo : Results that do not warrant a premium
>Q4 results in line, no 2022 guidance - Brembo published Q4 results yesterday during trading hours which came in line with expectations. In detail, sales beat consensus estimates, still driven by the group’s exposure to outperforming markets (premium segment, China, motorcycles). However, the group disappointed once again on the margin, which came out stable vs Q3 despite the increase in sales, and was still far below H1 levels, reflecting rising inflationary pressure...Brembo operates in the field of components for the motor vehicle industry, designing, manufacturing and marketing disc braking systems. The product ranges includes performance brake calipers, brake discs, wheel side assemblies, complete braking systems and integrated engineering services that accompany the development of new vehicle models marketed by car and motorbike manufacturers. Co.'s products and services are employed on cars, commercial vehicles, and motorbikes, as well as in racing. Co. is divided into several manufacturing and marketing units which Co. coordinates.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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