IN 2012 REVENUES GREW TO ?1,388.6 MILLION (+10.7%), NET PROFIT LEAPED TO ?77.8 MILLION (+81.1%).

Stezzano, 5 March 2013

IN 2012 REVENUES GREW TO 1,388.6 MILLION (+10.7%), NET PROFIT LEAPED TO 77.8 MILLION (+81.1%).
Compared to the 31 December 2011 results: Revenues grew (+10.7% to 1,388.6 million) thanks to the positive contribution of car, motorbike and racing applications. Go o d margin performance: EBITDA +15.3% to 171.6 million; EBIT +21.9% to 89.4 million Net profit grew by 81.1% to 77.8 million Proposal to distribute a dividend of 0.40 per share (+33.3% compared to the 2011 dividend) In the year, investments to complete new industrial plants in Poland, the Czech Republic and China and increase the capacity of other production plants totalled 135.6 million. Net financial Debt amounted to 320.7 million, in line with the previous year. Results at 31 December 2012
( million) Revenues EBITDA
% on revenues

2012 1,388.6 171.6
1 2 .4 %

2011 1,254.5 148.8
1 1 .9 %

Change 1 0 .7 % 1 5 .3 % 2 1 .9 % 5 1 .3 % 8 1 .1 % 5 .7

EBIT
% on revenues

89.4
6 .4 %

73.3
5 .8 %

Pretax profit
% on revenues

82.8
6 .0 %

54.7
4 .4 %

Net profit
% on revenues

77.8
5 .6 %

42.9
3 .4 %

Net financial debt

320.7

315.0

Fourth Quarter 2012 Results
( million) Revenues EBITDA
% on revenues

2012 344.0 43.0
1 2 .5 %

2011 309.5 34.5
1 1 .1 %

Change 1 1 .2 % 2 4 .8 % 3 7 .3 % 180.4% 134.4%

EBIT
% on revenues

20.8
6 .0 %

15.1
4 .9 %

Pretax profit
% on revenues

21.0
6 .1 %

7.5
2 .4 %

Net profit
% on revenues

28.8
8 .4 %

12.3
4 .0 %

The Chairman Alberto Bombassei: "Brembo continued to report an increase in sales and profitability at a global level, thanks to its ability to drive innovation and manage manufacturing plants located throughout the world, despite the crisis which has greatly affected the car market in Italy and Southern Europe. The balanced international growth and the positive order book in early 2013 allow us to be confident of our results also for the first part of the year."

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Group's Consolidated Results for 2012 During the today's meeting, the Board of Directors of Brembo, chaired by Alberto Bombassei, examined and approved Brembo Group's results as of 31 December 2012. Net consolidated revenues amounted to 1,388.6 million, up by 10.7% compared to the previous year (1,254.5 million). Car applications, which grew by 16.2% compared to the previous year, race applications (+6.3%) and motorbike applications (+3.6%) most contributed to the growth of the Group's revenues. Sales of commercial vehicles decreased by 5.1%, reflecting Europe's ongoing weak economic situation. At a geographical level, the areas which most contributed to the growth were Germany, with sales up 20.5% compared to 2011, and North America, up over 30%. Germany reaffirmed its position as Brembo Group's main market, accounting for 23.7% of total revenues, followed by North America (22.5% of revenues) and Italy (15% of revenues). Italy and France were affected by the difficult situation of the European car sector and decreased by 7.1% and 3.4%, respectively, compared to FY 2011. In contrast, the UK market grew by 18.8%. The Indian market dropped by 5% in 2012: on a like-for-like exchange rate basis, it rose by 0.5%. China and Japan also performed well, growing by 9% and 7.7%, respectively. At the end of the year, Brazil declined by 0.9%; however, figures for Q4 2012 only showed an opposing trend (+33.5%) compared to the decrease of the first nine months. The cost of sales and other net operating costs amounted to 939.1 million in 2012, representing 67.6% of revenues, essentially in line with the figure of 67.9% for the previous year. Personnel costs amounted to 277.9 million or 20% of revenues, slightly decreasing compared to the previous year (20.3%). Personnel at 31 December 2012 numbered 6,937, 202 more than 6,735 of the previous year. EBITDA amounted to 171.6 million (12.4% of revenues), up by 15.3% compared to the previous year. EBIT amounted to 89.4 million (6.4% of revenues), up by 21.9% compared to year-end 2011. Net interest expenses were 6.5 million (17.2 million in 2011) and consisted of exchange gains of 5.1 million (compared to exchange losses of 6.3 million in 2011) and other net interest expenses of 11.6 million (10.8 million in the previous year). It should be noted that the exchange differences are mere accounting items generated by the translation in Euro of funding denominated in foreign currencies. Pre-tax profit was 82.8 million (54.7 million at year-end 2011). Based on the tax rates applicable under current tax regulations, estimated taxes amounted to 5.1 million (11.4 million in 2011), with a tax rate of 6.1% compared to 20.8% of the previous year.

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The significant tax rate decrease was mainly attributable to two factors: on the one hand, deferred tax assets arising from the tax benefits obtained in the Polish special economic zone, where the new foundry producing brake discs is located (Dbrowa Górnicza). On the other hand, income was recognised in connection with the application for a refund of corporate income tax (IRES) due to non-deduction of regional production tax (IRAP) pertaining to personnel costs, in accordance with the provisions of the so-called Save-Italy Decree (Italian Legislative Decree 201/2011). Net profit attributable to the Group for 2012 was 77.8 million, up 81.1% compared to 42.9 million for the previous year. Net financial debt at 31 December 2012 was 320.7 million, compared to 315 million for the previous year. Results for the Fourth Quarter 2012 In Q4 2012, the Group's net consolidated revenues amounted to 344 million, up 11.2% compared to Q4 2011. EBITDA amounted to 43 million, up 24.8% compared to Q4 2011, with a ratio of 12.5% to revenues. EBIT amounted to 20.8 million, up 37.3% compared to the same period of 2011, with a ratio of 6% to sales. Taxes for the fourth quarter are in credit due to recognition of deferred tax assets as illustrated in the previous paragraph. Net profit for the quarter was 28.8 million, up 134.4% compared to 12.3 million for Q4 2011. Results of the Parent Company Brembo S.p.A. Revenues of the Parent Company Brembo S.p.A. amounted to 640.5 million for 2012, slightly up compared to the previous year. Net profit was 35.3 million, up 63.4% compared to the previous year. The General Shareholders' Meeting will be called in accordance with the terms established by applicable laws and regulations to approve, inter alia, the following proposal for distributing the profit: a gross dividend of 0.40 per ordinary share outstanding at ex-coupon date, consequently excluding own shares; the remaining amount carried forward. It will also be proposed that dividends should be paid as of 16 May 2013, ex-coupon No. 21 on 13 May 2013. Plan for the Buy-back and Sale of Own Shares Today, the Board of Directors also approved the proposal for a new buy-back plan to be submitted to the forthcoming General Shareholders' Meeting, aimed at: undertaking investments, also with the aim of supporting the liquidity of Company's stock, so as to foster the regular conduct of trading beyond normal fluctuations related to market performance; giving effect to any share-based incentive plans for the directors, employees and collaborators of the company and/or its subsidiaries; and pursuing any swap transactions with equity investments as part of industrial projects.

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Under the proposal, the Board of Directors would be allowed to buy and/or dispose of, on one or more tranches, a maximum of 2,680,000 ordinary shares for a minimum price of 0.52 and a maximum price of 14.00 each. Authorisation will be requested for a period of 18 months from the date of the resolution of the Shareholders' Meeting that grants said authorisation. At present, the Company holds 1,747,000 own shares representing 2.616% of share capital. Outlook Order book forecasts confirm that revenues will continue to rise also in 2013. The gradual saturation of the plants completed in the period 2010-2012 will contribute positively to the growth of margins, as previously announced.

The manager in charge of the Company's financial reports, Matteo Tiraboschi, declares, pursuant to paragraph 2 of Article 154-bis of Italy's Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documented results, books and accounting records. Annexed hereto are the Income Statement, Balance Sheet and Cash Flow Statement for which the auditing process by the independent auditors is currently underway.

Company contacts:
Investor Relator Matteo Tiraboschi Tel. [phone] Email: [e-mail] www.brembo.com Communications Manager Thanai Bernardini Tel. [phone] [phone] Email: [e-mail]

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CONSOLIDATED IN COME STATEMEN T
(euro mi l l i o n) Sal e s of goods and se rvi c e s Othe r re ve nue s a nd i ncom e Cos ts for c a pi ta l i s e d i nte rna l works Ra w ma te ri a l s , cons uma bl e s a nd goods Othe r ope ra ti ng cos ts P e rs o nne l e x pe ns e s GROSS OPERATING INCOM E % of sal es of goods and servic es D e p r e c i a t i o n, a m o r t i s a t i on a nd i m p a i r m e nt l os s e s NET OPERA TING INCOME % of sal es of goods and servic es Ne t i nte re s t i ncom e (e xpe ns e ) Inte re s t i ncome (e xpe ns e ) from i nve s tme nts RESULT BEFORE TAXES % of sal es of goods and servic es Ta xe s RESULT BEFORE M INORITY INTERESTS % of sal es of goods and servic es Mi nori ty i nte re s ts NET RESULT FOR THE PERIOD % of sal es of goods and servic es BA SIC/DILUTED EA RNINGS PER SHA RE (e uro) 3 1 .1 2 .2 0 1 2 1 ,3 8 8 . 6 14 .9 11 .5 (7 1 5 .4 ) (2 5 0 .1 ) (2 7 7 .9 ) 1 7 1 .6 1 2 .4 % (8 2 .2 ) 8 9 .4 6 .4 % (6 .5 ) (0 .2 ) 8 2 .8 6 .0 % (5 .1 ) 7 7 .7 5 .6 % 0 .1 7 7 .8 5 .6 % 1 .1 9 3 1 .1 2 .2 0 1 1 1 ,2 5 4 .5 1 4 .8 1 1 .9 (6 4 0 .3 ) (2 3 7 .7 ) (2 5 4 .3 ) 1 4 8 .8 1 1 .9 % (7 5 .4 ) 7 3 .3 5 .8 % (1 7 .2 ) (1 .5 ) 5 4 .7 4 .4 % (1 1 .4 ) 4 3 .3 3 .5 % (0 .4 ) 4 2 .9 3 .4 % 0 .6 6 Change 1 3 4 .1 0.1 (0 .4 ) (7 5 .1 ) (1 2 .4 ) (2 3 .6 ) 2 2 .8 (6 .7 ) 1 6 .1 1 0.7 1.3 2 8 .1 6.3 3 4 .3 0.5 3 4 .8 % 1 0 .7 % 0 .9% -3 .1 % 11 .7% 5 .2% 9 .3% 1 5 .3 % 8 .9% 2 1 .9 % -6 2 .4 % -8 5 .7 % 5 1 .3 % -5 5 .4 % 7 9 .2 % -1 1 9 .7 % 8 1 .1 % Q 4 '1 2 3 4 4 .0 6.0 2.6 (1 7 9 .1 ) (6 0 .6 ) (6 9 .9 ) 4 3 .0 1 2 .5 % (2 2 .2 ) 2 0 .8 6 .0 % (0 .6 ) 0.9 2 1 .0 6 .1 % 7.7 2 8 .8 8 .4 % 0.0 2 8 .8 8 .4 % 0 .4 4 Q 4' 1 1 3 0 9 .5 6 .6 3 .3 (1 6 0 .1 ) (5 5 .8 ) (6 9 .0 ) 3 4 .5 1 1 .1 % (1 9 .3 ) 1 5 .1 4 .9 % (6 .4 ) (1 .2 ) 7 .5 2 .4 % 4 .9 1 2 .4 4 .0 % (0 .1 ) 1 2 .3 4 .0 % 0 .1 9 Change 3 4 .5 (0 .6 ) (0 .7 ) (1 9 .0 ) (4 .8 ) (0 .9 ) 8 .5 (2 .9 ) 5 .7 5.8 2.1 1 3 .5 2.8 1 6 .3 0.2 1 6 .5 % 1 1 .2 % -8 .7 % -2 1 .9 % 1 1.9% 8.6% 1.3% 2 4 .8 % 1 4.9% 3 7 .3 % -9 0 .4 % -1 7 1 .1 % 1 8 0 .4 % 5 6.5% 1 3 1 .3 % -1 2 5 .5 % 1 3 4 .4 %

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CONSOLIDATED BALANCE SHEET
(eu ro mi l l i o n ) ASSETS NON-CURRENT ASSETS Prope rty, pl a nt, e qui p me nt a nd othe r e qui pme nt D e ve l o p m e n t c o s t s Goodwi l l a nd othe r i n de fi ni te us e ful l i fe a s s e ts Othe r i nta ngi bl e a s s e ts Sha re hol di ngs va l ue d us i ng the e qui ty me thod Othe r fi na nc i a l a s s e ts (i nc l udi ng i nve s tme nts i n othe r c ompa ni e s a nd de ri va ti ve s ) Re c e i va bl e s a nd othe r non-c urre nt a s s e ts De fe rre d ta x a s s e ts TOTAL NON-CURRENT ASSETS CURRENT ASSETS I n ve n t o r i e s Tra de re c e i va bl e s Othe r re c e i va bl e s a nd c urre nt a s s e ts Curre nt fi na nc i a l a s s e ts a nd de ri va ti ve s C a s h a n d c a s h e q u i va l e n t s TOTAL CURRENT ASSETS TOTAL ASSETS EQ UITY AND L IABIL ITIES GROUP EQ UITY Sha re c a pi ta l Othe r re s e rve s Re ta i ne d e a rni ngs /(l o s s e s ) Ne t re s ul t for the pe ri od TOTAL GROUP EQ UITY TOTAL M INORITY INTERESTS TOTAL EQ UITY NON-CURRENT L IABIL ITIES Non-c urre nt pa ya bl e s to ba nks Othe r non-c urre nt fi n a nc i a l pa ya bl e s a nd de ri va ti ve s Othe r non-c urre nt l i a bi l i ti e s P r o vi s i o n s Provi s i ons for e mpl oye e be ne fi ts De fe rre d ta x l i a bi l i ti e s TOTAL NON -CURRENT L IABIL ITIES CURRENT L IABIL ITIES Curre nt pa ya bl e s to b a nks Othe r c urre nt fi na nc i a l pa ya bl e s a nd de ri va ti ve s Tra de pa ya bl e s Ta x pa ya bl e s Othe r c urre nt pa ya bl e s TOTAL CURRENT L IABIL ITIES TOTAL L IABIL ITIES TOTAL EQ UITY AND L IA BIL ITIES 3 4 .7 1 0 9 .4 1 6 6 .7 7 7 .8 3 8 8 .6 1 0 .5 3 9 9 .1 2 5 5 .3 1 5 .2 0 .6 8 .1 1 9 .6 8 .3 3 0 7 .1 1 7 0 .8 4 .9 2 4 7 .3 4 .8 8 4 .1 5 1 1 .9 8 1 9 .0 1 , 2 1 8 .1 3 4 .7 1 0 1 .8 1 4 4 .1 4 2 .9 3 2 3 .6 1 0 .3 3 3 3 .9 2 3 0 .8 2 3 .8 6 .6 5 .6 1 9 .6 8 .6 2 9 5 .0 1 5 8 .8 7 .1 2 6 6 .6 5 .7 6 5 .7 5 0 3 .8 7 9 8 .8 1 , 1 3 2 .7 0 .0 7 .6 2 2 .6 3 4 .8 6 5 .0 0 .2 6 5 .2 2 4 .5 (8 .6 ) (6 .0 ) 2 .4 0 .1 (0 .3 ) 1 2 .1 1 2 .0 (2 .2 ) (1 9 .3 ) (0 .8 ) 1 8 .4 8 .1 2 0 .2 8 5 .4 0 3 1 .1 2 .2 0 1 2 0 3 1 .1 2 .2 0 1 1 A-C Change

4 7 5 .4 4 3 .8 4 1 .8 1 7 .6 2 0 .5 0 .2 4 .0 3 5 .5 6 3 8 .8 2 0 7 .1 2 0 2 .3 4 4 .5 9 .9 1 1 5 .6 5 7 9 .3 1 , 2 1 8 .1

4 0 6 .6 4 1 .4 4 2 .3 1 9 .1 2 0 .8 0 .2 2 .8 2 3 .5 5 5 6 .6 2 2 5 .0 2 0 8 .3 3 7 .2 9 .8 9 5 .7 5 7 6 .1 1 , 1 3 2 .7

6 8 .8 2 .4 (0 .5 ) (1 .5 ) (0 .3 ) 0 .0 1 .1 1 2 .1 8 2 .1 (1 7 .9 ) (6 .0 ) 7 .2 0 .1 1 9 .9 3 .2 8 5 .4

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CONS OLIDATED CAS H-FLOW S TATEMEN T

(euro mi l l i on) Cash and c ash e qui vale nts at be gi nni ng of pe ri od Re sult for the pe riod be fore taxe s D e pre c i a ti on, a mort i s a ti on/Impa i rme nt l os s e s Ca pi t a l ga i ns /l o s s e s Wri te -ups /Wri t e -downs o f s h a re hol di ngs Fi na nc i a l port i o n of de fi ne d fun ds a nd pa ya bl e s for p e rs o nne l L o ng-t e rm provi s i on s fo r e mpl o ye e be n e fi t s Ot he r provi s i ons ne t of u ti l i s a t i ons Ne t c ash fl ow ge ne rate d by ope rations P a i d c u r re n t t a x e s Us e s of l ong-t e rm provi s i ons for e mpl oye e be ne fi t s (Inc rea se) reduc t i on i n c u rrent a sset s: i n v e n t o ri e s fi na nc i a l a s s e t s tra de re c e i va bl e s a nd re c e i va bl e s from c o mpa ni e s va l u e d u s i ng the e qui t y me t hod re ce i va bl e s from ot he rs a nd o the r a s s e t s Inc rease (red uc ti on) i n c u rrent l i abi l i ti es: tra de re c e i va bl e s a nd re c e i va bl e s from c o mpa ni e s va l u e d u s i ng the e qui t y me t hod p a ya b l e s t o o t h e r s a n d o t h e r l i a b i l i t i e s Tra ns l a t i o n di ffe re nc e s on c u rre nt a s s e t s Ne t c ash fl ows from/(for) ope rating ac ti vi ti e s Invest ment s i n: i nt a ngi bl e a s s e t s prope rt y, p l a nt a nd e qui pme nt fi na nc i a l a s s e t s (s ha re hol di ngs ) B u s i n e s s Co m b i n a t i o n Ch i n a Bus i ne s s Combi na t i on Bre mbo Arge nti na S.A. D i s po s a l of 4 0 % So ft i a S.r.l . C a p i t a l i n c r e a s e i n c o n s o l i d a t e d c o m p a n i e s b y m i n o ri t y s h a r e h o l d e r s P ri c e for di s pos a l , or re i mburs e me nt va l ue of fi xe d a s s e t s Ne t c ash fl ows from/(for) inve sti ng ac tivi tie s D i vi d e n d s p a i d i n t h e p e r i o d Ac qui s i t i on of own s ha re s L o a n di s burs e m e nt Cha nge i n fa i r va l ue va l ua ti on L o a ns a nd fi na n c i ng gra nt e d by ba nks a nd ot he r fi na nc i a l i ns ti t ut i on s i n t he pe ri od Re pa yme nt of l ong-t e rm l oa n s Ne t c ash flows from/(for) fi nanc i ng ac tivi tie s Total c ash fl ow C ASH AND CA SH EQ UIV AL ENTS AT END OF THE PERIOD

3 1 .1 2 .2 0 1 2 2 6 .6 8 2 .8 82.2 (2 .6 ) 0.2 1.0 1.1 3.8 1 6 8 .4 (2 3 .5 ) (2 .5 ) 16.8 0.0 5.6 (0 .4 ) (2 0 .0 ) 7.1 (6 .2 ) 1 4 5 .3 (1 9 .2 ) (1 2 1 .4 ) 0.0 (2 .5 ) 0.0 0.0 0.4 7.6 (1 3 5 .1 ) (1 9 .5 ) 0.0 (0 .3 ) 0.5 121.3 (9 7 .7 ) 4 .3 1 4 .5 4 1 .1

3 1 .1 2 .2 0 1 1 4 0 .6 5 4 .7 7 5 .4 (1 .4 ) 1 .5 0 .8 0 .9 1 .5 1 3 3 .4 (1 5 .0 ) (2 .3 ) (4 4 .4 ) 0 .0 (3 .9 ) (4 .7 ) 4 0 .1 2 0 .1 (2 .5 ) 1 2 0 .9 (1 9 .0 ) (1 4 6 .3 ) 0 .0 0 .0 (0 .8 ) 0 .3 0 .5 2 .2 (1 6 3 .2 ) (1 9 .6 ) (2 .0 ) (9 .0 ) 0 .3 1 2 2 .2 (6 3 .5 ) 2 8 .3 (1 4 .0 ) 2 6 .6

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N ET SALES BREAKDOW N BY GEOGRAP HICAL AREA AN D BY APPLICATION
(euro m i l l i o n) GEOGRA PHICA L A REA Ita l y Ge r m a n y Fra nce Uni te d K i ngdom Othe r EU c ountri e s I nd i a Ch i n a J a pa n Othe r As i a Countri e s Bra zi l North Ame ri ca (US, Ca na da & Me xi co) Othe r Countri e s Total (euro m i l l i o n) A PPLICA TION Ca r s Motorbi ke s Comme rci a l a nd Indus tri a l Ve hi cl e s Ra ci ng Mi s ce l l a ne ous Total 9 39 .5 1 41 .4 1 84 .5 1 15 .6 7 .7 1 ,3 8 8 . 6 67 .7% 10 .2% 13 .3% 8 .3% 0 .5% 1 0 0 .0 % 80 8.1 13 6.5 19 4.4 10 8.7 6.8 1 , 2 5 4 .5 64 .4% 10 .9% 15 .5% 8 .7% 0 .5% 1 0 0 .0 % 13 1.3 4.9 (9 .9 ) 6.9 0.9 1 3 4 .1 16 .2% 3 .6% -5 .1 % 6 .3% 13 .9% 1 0 .7 % 25 0.3 3 2.5 3 7.4 2 2.6 1.1 3 4 4 .0 7 2.8% 9.5% 1 0.9% 6.6% 0.2% 1 0 0 .0 % 20 6.8 3 0.5 4 8.0 2 1.4 2.8 3 0 9 .5 6 6.8% 9.8% 1 5.5% 7.0% 0.9% 1 0 0 .0 % 4 3 .5 2 .1 (1 0 .6 ) 1 .3 (1 .7 ) 3 4 .5 2 1.0% 6.8% -2 2 .1 % 5.9% -5 9 .2 % 1 1 .2 % 2 07 .7 3 29 .6 58 .2 1 00 .6 1 64 .0 34 .0 59 .9 19 .6 8 .5 67 .1 3 12 .1 27 .5 1 ,3 8 8 . 6 3 1 .1 2 .2 0 1 2 15 .0% 23 .7% 4 .2% 7 .2% 11 .8% 2 .4% 4 .3% 1 .4% 0 .6% 4 .8% 22 .5% 2 .1% 1 0 0 .0 % % 22 3.7 27 3.4 6 0.2 8 4.6 17 4.9 3 5.8 5 4.9 1 8.2 8.6 6 7.7 23 9.4 1 3.1 1 , 2 5 4 .5 3 1 .1 2 .2 0 1 1 17 .8% 21 .8% 4 .8% 6 .7% 13 .9% 2 .9% 4 .4% 1 .5% 0 .7% 5 .4% 19 .1% 1 .0% 1 0 0 .0 % % (1 6 .0 ) 5 6.2 (2 .1 ) 1 5.9 (1 1 .0 ) (1 .8 ) 5.0 1.4 (0 .2 ) (0 .6 ) 7 2.8 1 4.4 1 3 4 .1 Change -7 .1 % 20 .5% -3 .4 % 18 .8% -6 .3 % -5 .0 % 9 .0% 7 .7% -2 .1 % -0 .9 % 30 .4% 1 10 .4% 1 0 .7 % % 4 8.6 8 1.5 1 0.0 2 5.9 3 3.5 8.5 1 7.4 4.8 2.4 1 6.6 8 7.0 7.7 3 4 4 .0 Q 4 '1 2 1 4.1% 2 3.7% 2.9% 7.5% 9.7% 2.5% 5.1% 1.4% 0.7% 4.8% 2 5.3% 2.3% 1 0 0 .0 % % 5 0.9 6 9.7 1 2.7 2 2.8 3 9.3 9.0 1 2.2 4.5 3.0 1 2.5 6 6.6 6.3 3 0 9 .5 Q 4 '1 1 1 6.5% 2 2.5% 4.1% 7.4% 1 2.7% 2.9% 3.9% 1.5% 1.0% 4.0% 2 1.5% 2.0% 1 0 0 .0 % % (2 .3 ) 1 1 .8 (2 .7 ) 3 .1 (5 .7 ) (0 .5 ) 5 .2 0 .3 (0 .6 ) 4 .2 2 0 .4 1 .4 3 4 .5 Change -4 .5 % 1 6.9% -2 1 .3 % 1 3.8% -1 4 .6 % -6 .0 % 4 2.7% 5.7% -1 8 .9 % 3 3.5% 3 0.6% 2 2.1% 1 1 .2 % % 3 1 .1 2 .2 0 1 2 % 3 1 .1 2 .2 0 1 1 % Change % Q 4 '1 2 % Q 4 '1 1 % Change %

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MAIN RATIOS
Ne t ope ra t i ng i ncome /Sa l e s of goods a nd s e rvi c e s Re s ul t be fore t a xe s /Sa l e s of goods a nd s e rvi ce s Ca pi t a l Expe ndi ture /Sa l e s of goods a nd s e rvi ce s Ne t Fi na nc i a l i nde bt e dne s s /Sha re hol de rs ' e qui ty Ne t fi na nc i a l cha rge s /Sa l e s of goods a nd s e rvi c e s Ne t fi na nc i a l cha rge s /Ne t Ope ra t i ng Inc ome ROI ROE

Q 4' 1 1 4 .9 % 2 .4 % 1 4 .6 % 9 4 .3 % 2 .1 % 4 2 .4 % 9 .0 % 1 4 .8 %

Q 1' 12 6 .8 % 6 .8 % 9 .3 % 9 6 .4 % -0 .1 % -2 .1 % 1 3 .2 % 2 3 .2 %

Q2 ' 12 7 .2 % 5 .8 % 1 0 .4 % 9 8 .0 % 1 .3 % 1 8 .5 % 1 4 .0 % 1 6 .4 %

Q3 ' 12 5 .7 % 5 .1 % 7 .8 % 9 3 .2 % 0 .5 % 8 .2 % 1 0 .3 % 1 4 .1 %

Q4 '1 2 6 .0 % 6 .1 % 1 3 .0 % 8 0 .4 % 0 .2 % 2 .9 % 1 1 .2 % 2 8 .6 %

Note s : ROI: Ne t ope ra t i ng i ncome / Ne t i nve s te d c a pi t a l mul ti pl y by ye a r da ys /pe ri od da ys . ROE: Re s ul t be fore mi nori t y i nt e re s t s / Sha re hol de rs e qui t y mul ti pl y by ye a r da ys /pe ri od da ys .
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