São Paulo – Gross revenues of Embraer reached R$ 2.15 billion (US$ 1.07 billion) in the first quarter of 2013, with gross margin (revenues minus production expenses) rising 22.3%. The result was R$ 113.5 million (US$ 57 million) over revenues in the same period in 2012. “Revenues rose a little due to exchange rate variations,” explained José Filippo, Financial and Investor Relations vice president at Embraer, in a press conference on Monday (30).
The company’s firm order portfolio also grew, to US$ 13.3 billion in the first three months of this year, boosted mainly by orders in the commercial and defence and safety sectors. “We made vigilance and protection system sales to Guatemala and Senegal. Six Super Tucanos were sold to Guatemala and another six to Senegal,” said Fillipo.
In the first quarter of 2013, Embraer delivered 17 commercial and 12 executive aircraft. “We delivered fewer jets in this quarter, but it is worth recalling that the mix was good, with important participation of large jets,” said the executive. In the period, the company delivered four large jets and eight light aircraft.
The number of deliveries was lower than that of the first quarter of 2012. “In commercial aviation, we missed some deliveries in the first quarter, which is usually seasonal and weaker than the others, but we hope to recover throughout the period,” said Fillipo. The company’s net profit in this first quarter was R$ 61.7 million (US$ 31 million).
Among Fillipo’s forecast is that the company’s revenues should be between R$ 5.9 billion (US$ 3 billion) and R$ 6.4 billion (US$ 3.2 billion) this year. The executive pointed out that orders like that announced on Monday (29), to the North American United Airlines, do not affect the 2013 results. “Of the 30 aircraft ordered by United, 18 are for 2014 and 12 for 2015,” he recalled.
Regarding the executive aviation market, the vice president at Embraer stated that it has “perspectives for slow growth”, but that the company hopes to obtain market share gains in the sector, which should present a more positive scenery by the end of the year.
*Translated by Mark Ament
