July 9, 2020

Embraer reduces its losses by 30.5% in the first nine months of the year

Brazilian aircraft manufacturer Embraer reported Tuesday that in the first nine months of this year it accumulated losses attributed to its controllers by 449.1 million reais (about 109.5 million dollars), although 30.5% lower than those of the same period of the previous year.

The third largest aircraft manufacturer in the world had accumulated between January and September 2018 a negative result of 646.8 million reais (about 157.7 million dollars).

The income of the company so far this year reached 13,216 million reais (about 3,223 million dollars), compared to 12,244 million reais (2,986 million dollars) in the same period of the previous year.

Embraer, in a statement to the market, reported that its ebitda, profit before interest, taxes, depreciation and amortization, accumulated a negative balance of 454.9 million reais (about 110.9 million dollars) in the first nine months of 2019.

In the third quarter of the year, meanwhile, the EBITDA was 75 million reais (about 18.2 million dollars), 83.1% lower than July-September 2018.

The company reported that in that period it recorded losses attributed to its controllers for 314.4 million reais (about 76.6 million dollars), six times higher than in the same months of 2018 (52.3 million reais or 12 , 7 million dollars).

The company's firm order book reached $ 16.2 billion at the end of the third quarter of 2019, when Embraer delivered 17 commercial and 27 executive aircraft, compared to 15 commercial and 24 executives in the third quarter of 2018.

In the statement in which it disclosed its results, the company stressed that it does not expect to conclude the sale of control of its commercial aviation division to the US giant Boeing before March 2020.

Based on the partnership agreement signed between both manufacturers, Embraer sells 80% of its commercial aircraft division, the most profitable, for $ 4.2 billion to Boeing, which will have full control of the new venture.

. (tagsToTranslate) Embraer (t) reduces (t) losses (t) first (t) months

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