Brazil’s Embraer Profit Grows 14%. 145 Airplanes to Be Delivered in 2006

Brazilian airplane manufacturer Embraer, had revenues of US$ 1.829 billion in the first quarter of the year, an increase of 16% in comparison to the US$ 1.575 billion registered in the same period in 2005.

According to information released by the company, the net profit obtained during the first six months of 2006 was US$ 204.4 million, an increase of 13.8% in relation to the US$ 179.5 million in the first half of last year.

In the period, the company delivered 63 aircrafts, of which 51 were commercial jets, nine executive jets and three for the government and defense segment. The company foresees the delivery of 145 airplanes this year. Embraer has 298 firm orders in their portfolio evaluated at US$ 10.2 billion.

In the second quarter of the year, the company had revenues of US$ 1.020 billion, against US$ 812.4 million in the same period in 2005 and US$ 808.3 million in the first three months of 2006.

Net profit of US$ 139.1 million between April and June was a quarterly record. In the second quarter of last year, the company profit was US$ 83 million, and in the first three months of this year, they totaled US$ 65.3 million.

A total of 36 aircraft were delivered in the quarter, being 30 commercial jets, five executive jets and one for the government and defense sector. In the second quarter of last year, a total of 30 aircraft were delivered.

In the company’s evaluation, among the main highlights in the second quarter are the shareholder restructuring. With this the company entered the "New Market" in the São Paulo Stock Exchange (Bovespa), which represents the highest level of corporate governance in the Brazilian share market.

Another highlight, according to the company, was the release of the Lineage jet, an ultra-large executive jet to be produced on the Embraer 190 platform, the second largest commercial aircraft produced by the company.

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