MILAN: Brembo could consider expanding its investment in a newly announced joint venture in China with Gold Phoenix, its executive chairman told Reuters after the Italian brakes maker posted a 13 per cent rise in first-half core earnings.
In the first half of the year Brembo's earnings before interest, taxe, depreciation and amortisation rose to 305 million euros, helped by a 28 per cent jump in sales and strong performance across all sectors.Shares in the company rose as much as 6.6 per cent after results were published and were up 3 per cent by 1505 GMT.
"We are recovering part of the higher costs of raw materials, energy and logistics, which have hugely increased since the beginning of the year," Tiraboschi said."But they keep rising, so we're somehow trailing".