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Brazilian Embraer Forecasts Delivery of Up to 200 Jets in 2008

Brazilian Embraer's Phenom 100 Brazil's airplane manufacturer Embraer delivered 52 commercial jets in the second quarter of this year. The figures were presented by the company and, according to material disclosed, there was growth of 44% over the same period in 2007. When adding the 36 aircraft delivered in the first quarter of this year, Embraer deliveries reached 97 units in the half. This represents growth of 59% over the first half of 2007.

The company forecasts delivery, up to the end of the year, of between 195 and 200 jets, apart from ten to 15 Phenom 100 jets. In the second quarter of the year, Embraer won new clients, like ETA Star Group, from Dubai, and the Brazilian TRIP Linhas Aéreas. The company's firm order backlog was US$ 20.7 billion at the end of June, a record figure. The backlog includes 847 firm orders and 827 options.

The factory from São José dos Campos also presented good financial results in the second quarter of the year. The company's net sales reached US$ 1.6 billion and net income reached US$ 134.4 million. There was growth of 22% in net sales when compared to the first half of this year.

According to the organization, the increase was caused by greater volume of deliveries. Net income also grew 58,1%, with net margin of 8.2%.

The company's gross margin was 21.9% in the second quarter of the year, little over the 21.5% of the same quarter last year, but 1.4 percentage points greater than the 20.5% of the first quarter of 2008.

Embraer attributes the increase in gross margin this year to the delivery of a higher number of aircraft, productivity gains in industrial processes and reduction of overtime work on the production lines.

The company's operating expenses reached US$ 155 million from January to April this year. This is 4% higher than in the same period in 2007. The company presented US$ 113.2 million in income from operations. In the same quarter of last year,

Embraer posted operating income of US$ 31.2 million. The company headquartered in the interior of São Paulo is the world leader in the production of commercial jets for up to 120 passengers.



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