Embraer reports net income of US$160 million in 2023
Embraer posted a net profit attributable to its shareholders of 783.6 million reais in 2023 ($160 million), compared with a loss in 2022 (953.6 million reais or $191 million), the Brazilian manufacturer reported Monday.
The company earned 943.6 million reais (US$189 million) in the fourth quarter of last year, almost eight times more than in the same period of 2022, according to the balance sheet sent to the market.
The result was driven by an 11% growth in annual revenue, which amounted to 26,110.5 million reais (US$5.225 million).
“All business units had growth in revenues and volumes over the previous year,” with a substantial increase in the Defense and Security division (+21 %), according to the report.
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More than a third of the revenues came in the last three months of the year, when it invoiced 9,728.7 million reais (US$1.95 billion), down 7% compared to the fourth quarter of 2022.
Embraer said it “continues to face challenges in the supply chain, which negatively impacted results.”.
In 2023, it delivered 181 aircraft, of which 64 were commercial, 115 executive and 2 military C-390 models, a total progress of 13% compared to 160 in 2022.
The firm’s order backlog ended the year at US$ 18.7 billion, “the highest volume recorded in the last six years”, according to the Brazilian firm.
Ebitda (gross operating profit) was R$2,577 million (US$516 million) in 2023, six times higher in the annual comparison.
Net debt closed last year at R$2,737.1 million (US$548 million), 27.3% lower than the level reached in December 2022.
By 2024, Embraer expects to deliver between 72 and 80 commercial aircraft and between 125 and 135 executive aircraft, with a total turnover of between US$ 6 billion and US$ 6.4 billion.
With information from EFE
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