São Paulo – Last Tuesday (23rd) evening, after the closing of all stock exchanges, Embraer announced that it posted a net income of US$ 65.2 million in quarter three, 2012, as against a US$ 98,590 loss in the same period of 2011. The company’s balance sheet ascribes the positive result to lowered administrative expenses, reduced payroll taxes brought about by the Brasil Maior (Bigger Brazil) government stimulus package, and a change in income tax calculation basis. Year-to-date as of late September, the company posted a net profit of US$ 217.4 million.
Of the 40 aircraft delivered from July to September this year, 27 went to commercial aviation clients: seven Embraer 175 models, seventeen Embraer 190 models, and three Embraer 195 models. Another 13 units were delivered for use in business aviation: 11 light jets (five Phenom 100 and six Phenom 300 models) and two large jets (one Legacy 650 and one Lineage 1000). In the third quarter of 2011, Embraer delivered 28 commercial aircraft and 18 executive jets.
As of September 30th this year, the company had a firm order backlog amounting to US$ 12.4 billion. By September 30th, 2011, the amount was US$ 16 billion.
Also according to the company, quarter-three revenues stood at US$ 1,404 billion, as against US$ 1,363 billion in quarter three, 2011. Year-to-date as of late September, Embraer posted US$ 4,083 billion in net revenues. The company’s indebtedness level dropped from US$ 2,147 billion in quarter two this year to US$ 2,087 billion in quarter three.
In terms of segments in which Embraer operates, commercial aviation accounted for 68.1% of the company’s revenues in quarter three. Defence and security accounted for 18.4% of total revenues, executive aviation answered to 11.9% and “others,” including used aircraft, had a 1.6% share in revenues. Year-to-date as of late September, commercial aviation accounted for 67.5% of Embraer’s overall revenues, defence and security accounted for 17.7%, executive aviation accounted for 13.1%, and “others” accounted for 1.1%. As of 3:19 pm this Wednesday (24th), the company’s shares were being traded on the Securities, Commodities and Futures Exchange (BMF&Bovespa) for R$ 14.25 (US$ 7.02), down 1.18%.
*All figures based on October 24, 2012 exchange rates. Translated by Gabriel Pomerancblum
