São Paulo – The Brazilian aircraft manufacturer Embraer grossed BRL 20.3 billion in 2015, up 3.5% from 2014, it reported this Thursday (3rd). Net income was BRL 425.8 million in Q4, but whole-year net income was down 69.6% to BRL 241.6 million.
The company said it had to make a BRL 390.6 million provision in its Q4 results because one of its clients, Republic Airways, has filed for bankruptcy. That weighed down on both Q4 and year-round results, according to Embraer.
Last year, Embraer delivered 101 airliners. In 2014, it had delivered 92 units. Executive jet deliveries also increased, from 116 in 2014 to 120 in 2015. The company’s firm order backlog stood at BRL 22.5 billion, up BRL 1.6 billion from the preceding year. Embraer voting shares slid 13.99% to BRL 25.03.
*Translated by Gabriel Pomerancblum
