Brembo posted a 33 p.c rise in first-quarter core earnings on Monday, helped by a sturdy restoration throughout its companies and markets the place it operates.

The corporate, which makes brakes for automakers together with Ferrari and Tesla in addition to a number of System One groups, stated in a statement that earnings earlier than pursuits, taxes, depreciation and amortization (EBITDA) rose to 135.6 million euros ($164.89 million) within the January to March interval, with revenue margins rising to twenty.1 p.c, up from 17.7 p.c a yr in the past.

Revenues rose 17.2 p.c to 675.1 million euros, reaching report ranges for the primary quarter and up 1.2 p.c on the identical interval in 2019, earlier than the outbreak of the coronavirus virus hit the automotive business.

Brembo stated its “order ranges affirm that the yr has begun on a constructive word,” including the affect of the chip scarcity on its purchasers’ provide chain was troublesome to estimate at current.