The Brazilian Aircraft Corporation S.A. (Embraer), Brazil’s largest exporter of manufactured goods, closed the books in 2004 with a record net profit of US$ 463 million (1.256 billion reaus), better than double its 2003 results.
The company’s sales last year also set a record, with US$ 3.7770 billion (10.231 billion reais) in net revenues, 55.7% more than in 2003.
“We experienced a year full of challenges and obstacles, but we managed to achieve a very impressive result,” affirmed Embraer president, Maurício Botelho, during his presentation of the company’s balance sheet to the press.
“The increase in revenues was heavily influenced by the introduction of a new family of airplanes, the Embraer 170/190. In industrial terms, it was an extremely challenging undertaking,” Botelho remarked.
In 2004 the company delivered 148 commercial and executive airplanes, a segment that represents 76.1% of the company’s receipts.
Embraer’s net contribution of US$ 1.4 billion was responsible, in itself, for 4% of Brazil’s trade surplus.
Besides being the country’s largest exporter of manufactured industrial goods, Embraer is second only to Petrobras in total export worth.
Translation: David Silberstein