São Paulo – The profit of Embraer, the world’s largest manufacturer of commercial jets with up to 120 seats, totalled 221.9 million reals (US$ 127 million) in the third quarter of this year. During the same period of last year, the company posted losses of 39.2 million. The figure represents a net profit margin of 9.5%.
The positive result was boosted by government reimbursements of the income tax and social contributions, and also by the appreciation of the real (Brazilian currency) against non-monetary assets, especially inventories.
The company posted net revenues of 2,327.5 million reals (US$ 1,324 million) during the period, representing a reduction of 250.4 million reals (US$ 142.4 million) compared with the third quarter of 2008, when net revenues totalled 2,577.9 million reals (US$ 1,466.7 million). The 9.7% reduction was mostly due to the products delivered during the quarter.
In the third quarter, Embraer sold 57 jets, of which 29 went to the commercial aviation segment, 27 to the executive aviation segment, and one Embraer 190 was sold to the Brazilian federal government. The firm order backlog of Embraer currently totals US$ 18.6 billion. The company is the global leader in manufacturing of commercial jets with up to 120 seats.
*Translated by Gabriel Pomerancblum
