Brazilian Aircraft Maker Embraer Up 32% in Net Revenues

Brazilian Embraer jet in US tour Brazil's aircraft maker Embraer posted growth of 32% in net revenues in the first quarter this year, compared with the same period last year. It totaled 2.3 billion reais (US$ 1.3 billion) whereas between January and March 2007 it was 1.7 billion reais (US$ 1 billion).

A press release issued by the Brazilian company explains that the growth happened as a result of the greater number of deliveries, of the mix of products delivered and of the reduction in the exchange rates.

The company's net profit reached 63.4 million reais (US$ 38.1 million), growth of 8.4%. During the same months in 2007, net profit was 58.5 million reais (US$ 35.2 million).

The company's firm order backlog closed the first quarter this year on a record high value of US$ 20.3 billion. The company explains that this is mostly due to orders for aircraft of the Embraer 170/190 family, for which there are 835 firm orders and 840 purchase options.

Embraer delivered 45 jets for business and executive aviation between January and March. The figure increased significantly in comparison with the same months of 2007, when 25 aircraft were delivered.

In 2008, the company intends to deliver from 195 to 200 aircraft, as well as 10 to 15 Phenom 100 jets, which should receive certification in the second half this year, according to company forecasts.

In the first quarter this year, Embraer was informed of firm orders to be placed by new customers, such as Air Moldova, from Moldavia, Jetscape, from the United States, and Azul Linhas Aéreas Brasileiras, a new Brazilian airline.

Companies that already operate with Embraer aircraft, Finnair, from Finland, and Lot Polish Airlines, from Poland, placed new orders as well. Options were also converted into firm orders by airlines Virgin Blue, from Australia, Egypt Air, from Egypt, and M1 Travel, from Switzerland.

The company's operational expenses totaled 301.3 million reais (US$ 181.3 million), growth of 3%. Commercial expenses rose 3.1%, closing at 165 million reais (US$ 99.3 million).

Management expenses saw a reduction of 2.1% and totaled 93 million reais (US$ 55.9 million). In March, the company should conclude the repurchase of 16,800,000 of its own shares, for an average price of 19.06 reais (US$ 11.47), representing disbursement of 302 million reais (US$ 181.7 million).

Embraer is a leading manufacturer of business jet aircraft with up to 120 seats, and one of the largest exporter companies in Brazil. It is headquartered in the city of São José dos Campos, in the interior of the state of São Paulo (Southeast Brazil), and owns offices and operations in the United States, France, Portugal, China and Singapore, as well as Brazil. By late March, the company had 23,878 employees.

Anba

Tags:

You May Also Like

Brazil Up Close

By Brazzil Magazine Chapter III/C/6 BARS Bars in Brazil are open places where you ...

Brazil, Go to the Streets to Bring Justice!

As anyone who lived through the times of the Brazilian military dictatorship knows, Brazil ...

Brazil’s Ex Finance Minister Charged with Money-Laundering and Conspiracy

Brazil’s former Finance Minister, Antônio Palocci, was indicted Thursday, April 27, for four crimes ...

Foreign Investors Flee Brazil’s Stock Market

Brazil's stocks partly recovered (0.16%) on Friday, July 4, after their worst week in ...

Brazil Is Front Runner in Coffee Race

The recent mapping of the coffee genome by Brazil should open numerous possibilities for the ...

Brazilian Exports More than Double in Four Years, Imports Grow 94%

Foreign trade hit new record highs in Brazil in 2006. Exports surpassed the goal ...

Heating US Economy Gives Brazilian Market the Chills

Latin American stocks retreated, as stronger-than-expected U.S. jobs data stoked concerns about a continued ...

Brazil's federal policemen

Brazil’s Operation Arrests 77 and Dismantles Police and Businessmen Gangs

Two politicians, more than a dozen police agents as well as lawyers and businessmen ...

Czar of Rio’s Underworld

If Rio’s new Public Security Secretary, Anthony Garotinho, makes an impression and reduces the ...

In Brazil, I Found Out, Magic Is an Everyday Reality

There is a church in Curitiba that blesses cars. When I first heard this, ...