(Corrects: Operation in Russia is removed)

(Reuters] – Brembo’s shares rose 3.8% after it posted a 11.2% growth in its first-quarter core earnings despite inflation and geopolitical tensions.

Earnings before interest taxes, depreciation, and amortization (EBITDA), in the first 3 months of this year, rose to 150.8million euros ($159.03m) from the 135.6 million euros for the same period last 2021.

The core profit margin of the group, which produces brakes for many Formula One and MotoGP teams (NYSE:), was 17.6%. This is a decrease from the previous quarter.

With operations in China and 15 other countries, the company said that it is difficult to forecast the future given current geopolitical conditions as well as the complicated supply situation.

($1 = 0.9482 euros)