Italian braking specialist Brembo has reported impressive financial results for the fourth quarter of 2020, despite the on-going difficulties in the automotive world created by the COVID-19 pandemic.

The company posted an 18% rise in fourth-quarter net profit to €64.8 million and a revenue increase of 4.5% to €648.7 million. These figures were boosted by double digit sales growth in India and China.

Chairman Alberto Bombassei commented, "The results are proof that the Company was managed effectively and carefully in a critical year, succeeding in protecting the Group’s profitability by rapidly and incisively containing the negative impact felt by the reference market. Brembo’s performance in 2020 bears witness to the Group's solidity.”

Bombassei added, “Although the market scenario continues to be shaped by considerable uncertainty, Brembo began 2021 with solid fundamentals, determined to respond to the impact of the health crisis by continuing to protect the health of its employees and to support its clients in rising to the challenges and taking advantage of the opportunities offered by a rapidly changing automotive industry, thanks to innovative solutions in pursuit of increasingly sustainable mobility.”