Le Conseil d'Administration de BREMBO approuve les r?sultats financiers au 30 juin 2007

Résultats du 2ème trimestre 2007 :

- Chiffre d'affaires + 6,7 %
- EBITDA +4,3 %
- Bénéfice net +1,6 %

2ème trimestre 2007

(en millions d’euros)	T2 2007	T2 2006	Var. % 07/06
Chiffres d’affaires	226,5	212,3	+6,7 %
EBITDA	35,1	33,6	+4,3 %
EBIT	22,2	23,8	-6,7 %
Bénéfice avant impôts	21,0	21,0	+0,1 %
Bénéfice net	14,2	12,2	+16,0 %
Endettement financier net	231,9	244,0	-5,0 %

DATA EXPRESSED ACCORDING TO IAS/IFRS.

The results of the quarter

Sales in the quarter amount to € 226.5 million, up 6.7% over the same quarter last year.

Sales of passenger car segment recorded a 3.8% turnover increase, with a downturn compared to the growth of the first quarter that, compared to the same 2006 period, benefited of platforms started in the second quarter 2006.
The good growth of commercial vehicles applications continues (+24.7%) thanks to the continuing positive cycle of road transportation and the progressive ramp up of Daimler platform.
Good performance of motorcycle segment (+15.7% in the quarter) due to the success of models equipped by Brembo that gain shares in a stable market.
Slight increase also in the racing segment (+2.8%).

From a geographic point of view, good growth in the Italian market (+11.1%) and in the German and other UE countries market due to the positive evolution of original equipment sales.
A turnover increase also in the French market (+7.4%) and English market (+3.5%).
Brazil keeps on growing (+23.9%), while sales in Japan decrease (-31.0%) as well as sales in the NAFTA area (-10.0%) that suffered the negative market trend.

In the quarter, the cost of sales and other operative costs amount to € 152.0 million, with an incidence of 67.1% on sales, compared to 65.6% of the same period of the previous year.
The greater incidence is due to several factors: a different sales mix, in comparison with the same period of 2006, and a significant increase of costs of the main raw materials, all positioned around the all time peak.

The personnel expenses amount to € 39.4 million, in line with € 39.3 million of 2006 second quarter, with an incidence on revenues that decreases from 18.5% to 17.4%.

EBITDA is up 4.3% and goes from € 33.6 million (15.8% of revenues) to € 35.1 million (15.5% of revenues), as a result of the above mentioned factors.

Depreciation and amortization in the quarter on approval amount to € 12.9 million, up 30.8% over 2006 second quarter. These are related to both investments made in the last quarters and to capitalized development costs.

EBIT amounts to € 22.2 million (9.8% of sales) compared to € 23.8 million (11.2% of sales) in the same quarter of the previous year.

Net financial charges, amounting to € 1.2 million, are composed by positive exchange rate differences for € 1.3 million (2006 same quarter: negative for € 1.3 million) and financial charges for € 2.5 million (€ 1.3 million in 2006). The increase of financial charges is mainly due to the fact that the previous year included a positive effect of a financial derivative instrument held for trading.

Estimated taxes for the quarter amount to € 6.5 million, or 31.1% of income before taxes (39.6% in 2006 second quarter). The decrease of tax rate compared to 2006 is due to a different country mix of the consolidated taxable income.

The first quarter investments amount to € 23.9 million, mainly to gear up installed capacity in Italy in order to match the increasing demand and in Spain to purchase a going-concern of kits for drum brakes and hydraulic components commercialized in the after market.

Net financial indebtedness rises up to € 231.9 million at 30 June 2007, compared to € 193.3 million at 31 December 2006 (€ 244.0 million at 30 June 2006), due to investment programs and to the good sales growth related to the sales seasonality.

Results as of 30 June 2007

Consolidated revenues of 2007 first half-year amount to € 455.8 million, up 10.1% over the same period last year.
After deducting cost of goods sold for € 304.3 million, up 12.5%, EBITDA amounts to € 68.5 million (+7.6% over 2006 first six months).
Amortization and depreciation amount to € 23.6 million, up 26.2% compared to the same period last year, due to the significant investments in the last quarters and development costs capitalization.
EBIT amounts to € 44.9 million, in line with the value recorded in 2006 first six months.
Net profit is € 26.8 million, up 15.7%.

Significant events after 30 June 2007

In the month of July Brembo has joined Harley-Davidson to supply braking systems for Harley-Davidson's Touring Platform.
With this new agreement, added to the VRSC platform, Brembo becomes the braking systems OEM supplier for over 40% of Harley-Davidson motorbikes.

No further significant events recorded after the closing of 2007 second quarter.

Foreseeable evolution

The orders portfolio for the months to come confirms a good performance of the Group, with revenues and margins growth rates similar to what registered in the first six months of the year.

The raw materials and energy markets are still positioned around all time peaks and show no improvement.

Enclosures:
- income statement and balance sheet schemes, that are not object of audit;
- declaration of the manager in control of company accounting documents, ex art. 154/bis paragraph 2 – part IV, title III, head II, section V-bis, of Legislative Decree dated 24 February 1998, n. 58.

For further information:

Investor Relations

Orsi Corrado
Tel. +39 035 605 2884
Fax +39 035 605 2518

Vavassori Roberto
Tel. +39 035 605 2223
e-mail: [email protected]

Media Relations:

De Marchi Gianfranco
Tel. +39 035 605 2576
Fax +39 035 605 2273
e-mail: [email protected]

www.brembo.com

Graphics available in attachment:
- CONSOLIDATED INCOME STATEMENT - IFRS
- CONSOLIDATED BALANCE SHEET - IFRS
- GROSS SALES BREAKDOWN BY GEOGRAPHICAL AREA AND APPLICATION
- MAIN RATIOS

* * *

DECLARATION

Ex art. 154/bis paragraph 2 – part IV, title III, head II, section V-bis, of Legislative Decree 24 February 1998, n. 58: "Consolidation Act of dispositions in financial intermediation matter, according to articles 8 and 21 of Law 6 February 1996, n. 52"

SUBJECT: Quarterly report at 30 June 2007

The undersigned,

Corrado Orsi, manager in control of drawing up of social accounting documents, of the company BREMBO S.p.A.,

ATTESTS

in accordance with what reported in the second paragraph of art. 154 bis, part IV, title III, head II, section V-bis, of Legislative Decree 24 February 1998, n. 58 that, basis on his own acquaintance, the Quarterly Report at 30 June 2007 corresponds to the outcomes, books and accounts.

Corrado Orsi

Brembo S.p.A.