Brembo represents a reliable partner for many businesses in the supply industry, with which they can develop partnerships and grow over time. Therefore it has contributed to strengthening the entrepreneurial fabric in its value chain, creating a network of satellite companies that guarantees additional employment and technological development.
In fact, in 2023 much of the economic value distributed by Brembo went towards remunerating and supporting the system of businesses in the supply chains: overall, the Group made purchases worth over €2,590 million. More than €681 million was distributed to Brembo personnel in the form of salaries, variable remuneration
and social security contributions.
The economic impact of the Group can also be measured in its support for public spending through its contribution to tax revenue and its dividends to Shareholders, thereby encouraging further investments.
ECONOMIC VALUE GENERATED, DISTRIBUTED AND RETAINED (€ THOUSAND)
| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Economic value generated * | 2,887,840 | 3,802,434 | 4,092,885 |
| Economic value distributed | 2,539,452 | 3,386,176 | 3,675,184 |
| Suppliers** | 1,828,581 | 2,458,975 | 2,590,809 |
| Brembo People*** | 506,617 | 616,180 | 681,620 |
| Investors and lenders**** | 138,229 | 205,636 | 290,230 |
| Public Administration | 64,312 | 103,420 | 110,759 |
| Gifts and sponsorships***** | 1,713 | 1,965 | 1,766 |
| Economic value retained | 348,388 | 416,258 | 417,701 |
* The economic value generated consists of revenue from contracts with customers, other revenues and income, income (expense) from non-financial investments, exchange rate gains, interest income and interest income (expense) from investments.
** The item “Suppliers” includes operating costs classified among raw material costs and other operating costs recognised in the consolidated
statement of income.
*** The item “Brembo People” includes personnel expenses for employees and agency workers.
**** The item “Investors and lenders” includes interest expense, exchange gains and dividends paid in the year.
***** The item “Gifts and sponsorships” includes voluntary contributions for the community (including donations).
Community involvement and development
Over the years, the Group has developed a wide and growing programme of projects and initiatives to involve and support local communities, with the aim of bringing concrete support to areas of greatest social need.
In order to guarantee structured and strategic management of social initiatives, Brembo set up a central Social and Cultural Sponsorships and Donations Committee. This body periodically brings together the Heads of the main corporate functions, in order to define criteria, guidelines and priorities on which to focus sponsorships and donations in the social and cultural arena, evaluate initiatives to support, as well as monitor the compliance and efficacy of the projects being promoted.
These projects are conceived and developed in collaboration with the non-profit sector and local institutions, and are focused on the following action areas: education, training and research, environment and sustainability, sport, art and culture, social and child protection, Brembo social projects around the world.
In February 2023, a violent earthquake struck the territory on the border between Turkey and Syria, causing dramatic consequences for the communities involved, as well as incalculable damage to buildings and infrastructure already strained by years of war. Aftershocks spread across the region, forcing millions of people to flee their homes and move to temporary settlements.
To bring concrete support to these people, Brembo created a “Child Friendly Space” dedicated to the most vulnerable, in particular to women and children who were among the most affected by the earthquake and its consequences.
Conceived and developed in collaboration with Foundation CESVI and its local partners, “Child Friendly Space” was a safe and secure space in Hatay, the Turkish province with the highest number of refugee settlements where access to services and aid was severely limited.
The centre provided psychological and emotional support appropriate to the age of the children involved and their needs, as well as offered, under the guidance of specialised operators, recreational and educational activities and light-hearted moments, essential to try to rebuild everyday life together.
A van was also equipped that operated as a mobile “Child Friendly Space”, with a team that provided the necessary flexibility to meet the needs of even the most remote residential areas. In addition to psychosocial support and the distribution of basic necessities, the mobile CFS organised cultural activities, such as the staging of theatrical performances designed for the youngest children.
For adults, the mobile team carried out individual and group awareness-raising and psychological support sessions in safe spaces, identified in different locations in the region to get in touch with beneficiaries and conduct indepth assessments on the needs of the populations.
Project’s activities ended in September 2023. A total of 407 minors and 420 adults participated in the psychosocial support meetings, 59 people benefited from individual counselling and 208 were involved in activities to raise awareness about the possible psychological consequences of such a dramatic event and the actions that could help overcome it.
2023 was the year of Bergamo Brescia Italian Capital of Culture. An example of virtuous collaboration between two urban centres that, for the first time, have been honoured as just one Italian Capital of Culture. An exceptionally important initiative that was committed to gathering energy and listening to the protagonists of the local area in which Brembo has its roots, promoting reflections on the present and possible future.
In addition to supporting the event as a System Partner, Brembo took an active part with the display of its 2004 and 2020 ADI Compasso d’Oro Awards in “The Thinking Factories” and “Bergamo Brescia Business Culture” exhibitions in Bergamo Upper Town. Two important events that retraced the excellence, design and industrial culture of the two protagonist cities.
Also of international importance was the “Yayoi Kusama.
Infinite Present” exhibition which brought one of the most iconic installations by the famous Japanese artist Yayoi Kusama to the heart of the city of Bergamo, also thanks to Brembo’s support as Social Inclusivity Partner.
Bergamo Brescia Italian Capital of Culture was also a new opportunity for the Group to tell the story of Brembo People, putting them at the centre of the “Insiemi di visi e di voci” exhibition, at the Palazzo della Provincia in Bergamo, which brought together the “ordinary excellence” of the Bergamo area in photographic portraits and recorded voices.
Said event celebrated the important cultural and artistic heritage of Bergamo and Bresciaand, at the same time, the inventive, design and implementation capabilities of the people and companies. These same values are part of Brembo’s DNA, which has always been oriented towards innovation and beauty. It is on the basis of these common traits that Brembo enthusiastically shared the objectives of the initiative within a broader view of continuous improvement and shared growth.
Every single tree is oxygen for the planet and a resource for man. It is sustenance and life, a symbol of rebirth and a gaze towards the future.
To celebrate the 60th anniversary of its foundation, in 2021 the Group donated a tree to all of Brembo People worldwide, thus giving life to the first Brembo Forest, namely in Kenya, in the Victoria Lake region.
The initiative, called “Brembo4Earth - A gift for you, our forest for the planet”, was conducted in partnership with Treedom and allowed 14 thousand trees to be planted in a combination of stem and fruit species depending on local area needs.
The Brembo Forest contributes to the achievement of ten of the 17 UN Sustainable Development Goals, bringing both environmental and social benefits. In particular, the project involves local communities in forest management and care, providing them with profitable agricultural alternatives.
In 2023, monitoring of the Brembo Forest and support for the Biodiversity Park in the industrial area of Chakan, India, continued.
This project was developed and implemented in collaboration with the local NGO Bosch & Forest, according to the "Miyawaki method". An afforestation technique, invented by the Japanese botanist Akira Miyawaki, which uses resistant and spontaneous plants for the recovery and reclamation of abandoned land that, as in the case of Chakan, was destined for the illegal dumping of waste and slag.
A decisive phase of the project was the selection of the variety of species to be included in the park to recreate an ecosystem capable of surviving over time and promoting the soil’s ability to retain water and its nutrients, the cooling of the microclimate, and the absorption of pollutants and carbon dioxide.
Today, the biodiversity park is available to the whole community and to the workers of the industrial area who can enjoy a green space where they can reconnect with nature.
In light of the relevance of this project, the Brembo Brake India local team was bestowed in 2023 with the award for the Community Involvement & Development category of the Brembo Sustainability Awards.
Brembo has been present for years with its manufacturing plants in Pune, a large city in western India. The long experience in the country has allowed the Group to acquire an in-depth knowledge of the socio-economic dynamics of the area and the consequent needs of its community.
For this reason, in 2017 Brembo implemented the “House of Smile” project in collaboration with the Foundation CESVI.
With over 5,000 unique beneficiaries reached since its launch, 3 education centres and 1 service centre, the project is implemented in the difficult context of the outskirts of Pune, providing support to highly vulnerable women and children.
Operating within these structures is Swadhar, a local partner that coordinates schemes in the area aimed not only at responding to people’s immediate needs, but also at building a possible tomorrow together. In particular, the House of Smile guarantees a safe and stimulating environment for the care, development and education of the children involved, but also professional start-up programmes, awareness raising and counselling services to families, mostly to young mothers.
In 2023, 345 boys and girls took part in the educational activities designed for different age groups. These include the House of Smile nursery school, which provides training aimed at improving their cognitive, social and fine motor skills, and support and study classes to promote literacy, support with study, civic education and healthy and correct nutrition. In addition, each education centre is equipped with a library and spaces dedicated to e-learning which, during 2023, were upgraded to ensure greater involvement of young people through interactive face-to-face lessons and the necessary training for teachers.
The House of Smile also caters to parents in the community with family counselling activities, both individual and group, for early childhood support, and awareness programmes regarding career guidance, parenting, the importance of education and health and access to public welfare programmes. In 2023, a total of 368 adults benefitted from these services.
The three education centres also offer professional training programmes for young women such as tailoring, hair-styling and beautician courses that award a recognised completion certificate. 80 women were involved in these programmes in 2023.
In this context, Brembo Brake India’s team maintains an open and constant dialogue with the CESVI operators for the project’s supervision and with the Swadhar’s local managers to ensure proximity to the women and families of young people benefiting from the House of Smile services.
In June 2023, the House of Smile welcomed the Minister of Education and Merit Giuseppe Valditara. On this occasion, the Minister was able to learn about the reality of the project and get in touch with some of the people involved.
This visit is further confirmation of the excellent results achieved by the House of Smile and provides a fresh impetus for continuing with commitment in such a significant project.
In 2022, Brembo launched a project in the Indian city of Thane, near Mumbai, with the aim of supporting mothers, artisans in the textile sector, in managing and caring for children.
In collaboration with the Foundation CESVI and local partner ProAction, the project established a Day Care Centre (DCC) operating five days a week that offers different socio- educational services, including educational support activities, arts and crafts workshops, sporting activities, interactive learning lessons, specialised support sessions in English and healthcare.
This multi-purpose space allows children to learn, explore and grow in a safe and stimulating environment that contributes to the enhancement of their learning skills and the improvement of their overall wellbeing. During 2023, 54 children participated in arts and crafts workshops, while 14 children attended career guidance sessions.
In addition to educational support, the young people had the opportunity to participate in recreational and sporting activities, such as karate classes and summer camps with chess workshops, outdoor games and theatre, planetarium and fire station visits. A total of 52 young people participated in these moments of leisure. The mothers involved in the project are artisans from the tailoring unit located near the Centre. The project promotes their economic and social emancipation through the provision of medical insurance cover, regular medical check-ups and financial support to combat the phenomenon of early school leaving and manage family emergencies. The project also includes training and awareness-raising sessions aimed at strengthening their competences and skills.
In 2023, the Centre guaranteed health insurance to entire households, covering a total of 146 beneficiaries including adults and children. In addition, 65 women benefited from medical examinations and 81 women were involved in awareness-raising and training sessions, including a first aid course. The two-year Brembo’s project in Thane is thus proving to have a significant impact on the local community.
Thanks to the Day Care Centre (DCC), opportunities have been created to children care, growth and education, while their mothers benefitted from a fundamental support in family management and personal development.
In 2019, Brembo launched the “School on Wheels” project, through a school bus fitted out to serve as a mobile classroom thanks to the collaboration of the local NGO Door Step School. Inside the school bus, there are books, notebooks, computers and interactive teaching materials to support the literacy and study activities of over 550 children.
From Monday to Saturday, “School on Wheels” reaches the outskirts of the city of Pune, involving groups of 20-25 children at each stop.
Door Step School’s team teaches children aged 5 to 10 the reading, writing and math and to take care of personal hygiene.
In addition, the school bus stops in specific areas for about two hours, offering the opportunity for those who wish to use the mobile unit to spend time reading. This initiative has proved to be very useful both for children who are learning to read and for those who already know how to read, but do not have access to books outside of this project.
Within the complex social and economic context of rural China, millions of vulnerable children often have difficulty to access quality education, which is key for acquiring the knowledge and skills necessary to start building one’s future.
In order to positively contribute to the needs and challenges of this area in the said field, since 2019 Brembo has partnered with the Chinese NGO ADream.org as part of the “Dream Center” project.
This project provides not only structural redevelopment of certain schools in peripheral areas of rural China, but also education programmes for teachers aimed at ensuring a better quality education and stimulate the skills and aspirations of students thanks to an innovative, equal and inclusive approach.
There are currently four Dream Centers operating with the support of Adream.org and the local Public Education office: the “Taizhou Experimental Primary School” in the Jiangsu province with 14 classes, 32 teachers and 1,172 students; the “ZiXi Experimental Primary School” in the city of FuZhou, Jiangxi province, with 10 classes, 51 teachers and 2,739 students; the “Jietian Central Primary School” in the Jiangxi province, with 12 classes, 19 teachers and 1,200 students; and the “Muye Township Central Primary School”, in the city of Chongqing, with 10 classes, 21 teachers and 417 students.
In support of the project, there has also been significant engagement of the Brembo China team in the “Tencent 99 Giving Day”, a national fundraising programme through which Brembo People have contributed to the purchase of educational material for the Dream Centres.
A further proof to which extent commitment, when shared, not only contributes to reducing geographical and social gaps, but also creates new opportunities for change. For the “Dream Center” project this happens respecting the diversity and personality of every individual, ensuring that anyone is left behind
As of 2014 Brembo makes an annual contribution to the Giocamico project at the Papa Giovanni XXIII hospital in Bergamo. In the Hospital paediatric wards, Giocamico supports and prepares young patients for the most delicate surgeries and diagnostic tests through play.
In this way the operating theatre may become a space ship and the operation an adventurous journey with sounds, images and simulations.
Thanks to the excellent results achieved, the project was extended to the Radiology Operating Unit where a specific day of the week is dedicated to the examinations of the youngest patients. The goal is to create a space for listening and discussion, with the support of a psychologist, to help children learn about the examination they have to face, simulating it and explaining the steps involved.
With the aim of further developing it within the Hospital, Giocamico has also been introduced in the Nuclear Medicine Unit, so as to involve patients between the ages of three and thirteen in a process that is not only intended to be one of care, but also of emotional processing and greater awareness.
Since 2014, 12,261 children benefitted from the Giocamico project. In 2023, it has also been the subject of a lecture to trainee doctors at the Pope John XXIII Hospital in Bergamo and the subject of a training course aimed at all psychologists at Padua Hospital.
In addition, in order to ensure that the journey of young patients is more consciously integrated into each one’s personal history, it is essential that their family members can be closely involved and supported.
For this reason, Brembo has decided to support the project of the “Friends of Paediatrics” association. The collaboration stems from the need for temporary accommodation for families with specific needs related to distance from home and the pathology of the child being treated in Bergamo Hospital’s paediatric wards, recognised as outstanding in the European healthcare landscape. However, the reception capacity at local level is often insufficient to adequately cope with the growing demand for accommodation.
In collaboration with “Friends of Paediatrics”, Brembo has provided hosted families with a welcoming and functional apartment, where they can live everyday life and, at the same time, share their experiences with other guests in the external communal areas.
Brembo’s strong propensity for innovation leads it to pay particular attention to specialised education and training programmes aimed at young people, as well as to support advanced scientific research projects in areas of application not only in the automotive sector.
An example of this is FROM, the Research Foundation of Pope John XXIII Hospital in Bergamo, set up in 2008 with the aim of fostering the development of research projects within the Bergamo Hospital, ensuring the possibility of maintaining an active role in national and international clinical research. The intent is to enhance, optimise and extend the research potential to all hospital sectors, thus trying to improve the quality of care and health.
Brembo also supports the activities of the Mario Negri Institute, one of the largest centres of biomedical and pharmacological research in Italy. The institute contributes to disseminating scientific research and information through various initiatives and tools: it continuously informs the scientific community of new developments and breakthroughs; maintains a close relationship with citizens (especially patients) by sharing information on the use of pharmaceuticals and updates them regularly on matters involving scientific research and health.
During the Covid-19 pandemic, Brembo’s support to these communities and to the Pope John XXIII Hospital in Bergamo allowed to finance over 20 research projects conducted jointly to study the virus and its medium- and long-term consequences. The results of the research projects have been published in the most prestigious scientific and medical journals worldwide
Sport is an extraordinary tool for personal and collective growth, favouring inclusion and participation and enhancing talent.
Brembo supports the social role of sport and shares with Atalanta the educational and cultural values that young athletes can not only consolidate on the playing field, but also transfer to other life contexts. These values include loyalty, team spirit, sacrifice, training, merit, a love of challenges, support for talent and constant improvement, all qualities which also have something in common with academic education.
It is on the basis of this common vision that Brembo and Atalanta, two of Bergamo’s outstanding achievements belonging to different worlds, have been collaborating since 2018, involving the new generations. In particular, since that year Brembo has been Top Partner of the Atalanta Bergamasca Calcio’s Youth Sector.
One of the key elements of this collaboration is the Brembo Prize, by which the Group annually awards the most deserving boys and girls in each team, from the Under 15 to the Primavera categories on the basis of criteria that consider not only strictly sporting aspects, but also and above all educational results and behaviour.
Now in its fifth edition, in 2023 the Award was conferred by Cristina Bombassei, Director and Chief CSR Officer of Brembo, during the ceremony held at the headquarters of the Atalanta Youth Sector in Zingonia, in the presence of 400 young male and female football players, staff and managers of the team.
Brembo also supports the “School at the Stadium” project, a social and educational programme for students that aims to promote knowledge, respect for rules and the fair play, and prevent episodes of discrimination, not only on the field but also in everyday life.
Lastly, Brembo’s commitment also extends to the summer Football Camps promoted by Atalanta Bergamasca Calcio football team for children aged 7–14, which attract large numbers of participants every year.
