Embraer Puts Pandemic Behind it and Returns to Growth: Positive Results in all its Units
Embraer presented its 2022 results with good news: in an industry still suffering the consequences of the pandemic, the Brazilian company was able to show growth in all its business areas, cash flow, orders and deliveries.
In addition, the company reduced its leverage and debt, while estimating double-digit growth by 2023. «The recovery process ended in 2022; in 2023 we focus on growing» said Francisco Gomez Neto, CEO of Embraer.
«We said in 2020 that 2021 and 2022 would be difficult years because of two concurrent crises: the pandemic and the end of the agreement with Boeing. We are ready to start a new phase of growth by capturing the full potential of the company in the coming years.»
«The Commercial and Executive production lines are practically complete for 2023 and 2024» added Neto, who also said that «there are several sales campaigns for all our products.»
«I thank the entire Embraer team, who faced the challenges we had last year with a lot of commitment and dedication, always keeping the focus on safety and quality,» said the CEO, who closed the presentation by stating that «we are very confident in sustainable growth.»
57 commercial aircraft delivered in 2022
30 of those aircraft were delivered in the fourth quarter, closing the year just 3 aircraft below the initial estimate. The company will up the ante and is targeting a minimum delivery of 65 aircraft in 2023.
Supply chain challenges cannot be ignored: Embraer acknowledges delays with E2 engines – impacting deliveries to KLM Cityhopper – and some hydraulic components. Gomez Neto is confident that the supply chain will not return to normal until 2024.
Excellent results in Business Aviation
The Phenom 300 is, for the eleventh consecutive year, the world’s best-selling business jet, and the business unit delivered 102 aircraft during the year, remaining within estimates.
Defense and Services, two key areas
In addition to the five C-390 Millenniums that the Netherlands acquired to renew its tactical transport fleet, Embraer is betting on entering the U.S. market through a partnership with L3 Harris for the Agile Tanker, which allows it to turn the Millennium into a formidable tactical multirole aircraft.
The company’s services area also experienced growth and looks to the future with good expectations.
With a backlog that grew by US$500 million and revenue of US$4.5 billion, which exceeded initial forecasts, Embraer is preparing for a challenging 2023, but which is the first step in what it hopes will be sustained growth.
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