São Paulo – The Brazilian aircraft manufacturer Embraer ended 2009 with a net profit of 894.6 million reals (US$ 475.9 million). Last year, the results for the last quarter exceeded the company’s expectations, with delivery of 91 aircraft, a record-high figure for Embraer over a three-month period, and a total of 244 aircraft were delivered during the year.
Net revenues in the last quarter of 2009 were 2,798.5 million reals (US$ 1,567 million), and annual net revenues totalled 10,813 million reals (US$ 6,058 million). Net profit in the last quarter of last year was 167.5 million reals (US$ 93.8 million) and the annual net cash flow was 849.4 million reals (US$ 475.9 million).
According to a report issued by Embraer, in the last quarter of the year, the executive and defence aviation segments showed the greatest recovery compared with the third quarter of 2009, whereas commercial aviation revenues dropped using the same basis of comparison.
The company ascribes the reduction in commercial aviation sales to the international financial crisis, but claims that it expects the segment to bounce back in 2010. “A few positive signs, such as the increasing economic activity worldwide and the improving commercial aviation market performance indicators, may be showing that recovery is underway in the next few quarters, and that there will probably be a greater number of orders in 2010,” according to Embraer’s report.
For 2010, the company is expecting net revenues of US$ 5 billion.
*Translated by Gabriel Pomerancblum
