Embraer announced today that it recorded a net profit of US$164 million (R$847 million) in 2023, the company’s best financial result in five years. In 2022, the company had a loss of US$185.4 million.
Over the past year, Embraer delivered a total of 181 jets, of which 64 were commercial aircraft, 115 executive jets (74 light and 41 medium) and two C-390, a multi-mission military jet. Embraer’s deliveries increased by 13% compared to 160 jets in 2022. The annual result benefited from strong activity in the fourth quarter of 2023, which allowed the delivery of 75 jets and the generation of US$1.975 billion in revenue.
Last year, the company generated total revenue of US$5.269 billion, in line with announced estimates and 16% higher than in 2022. All business units saw growth in revenue and volumes compared to the previous year. In the financial statement in dollars, Embraer Defense & Security was the highlight, with growth of 25%, followed by Commercial Aviation, with 20%.
Embraer ended the year with a backlog valued at US$18.7 billion, the highest volume recorded in the last six years. The company also reduced its net debt throughout the year to US$781 million. At the end of 2022 this value was US$1.033 billion. The significant positive free cash flow generated in the quarter helped with this improvement. Despite the growth movement, the company reported that it continues to face challenges in the supply chain, which impacted the 2023 results.
For 2024, Embraer estimates that it will be another year of growth with the delivery of between 72 and 80 commercial aircraft and between 125 and 135 executive jets. The expectation is for revenue generation of between US$6.0 billion and US$6.4 billion, with an adjusted EBIT margin between 6.5% and 7.5% and adjusted free cash flow of US$220 million or greater for the year.
Via Embraer Press Office
