Embraer grows revenue and lifts jet deliveries
Embraer’s Executive Aviation division increased its revenue to $1.2bn last year from $1.1bn in 2021 and upped its delivery of business jets, according to Embraer’s full-year accounts for 2022.
The company delivered 50 business jets within the fourth quarter (Q4) of the year, consisting of 33 light jets and 17 mid-size jets.
Executive jets delivered in 2022 increased 10% from 2021 to 102. Of this, 59 were Phenom 300, 21 were Praetor 600, 15 were Praetor 500 and the remaining seven jets were Phenom 100 aircraft.
Embraer said the division experienced “strong demand across the portfolio and sustained levels of sales”.
Overall backlog for the group reached $17.5bn by the end of 2022. A fifth of this came from business jet orders, accounting for $3.85bn.
The executive jet division also accounted for a fifth of the group’s 2022 revenue. Embraer Executive Aviation turned over $998m of the firm’s $4.5bn in revenue which was up from $4.2bn in 2021.
Embraer ended the year with $540m in free cash flow, which was in part “driven by excellent performance in the executive aviation division” and it reduced its net debt by $457m since 2021, to $950m.
Having focused on recovery in 2022, the firm is shifting its focus to growth from 2023 to 2026. In its guidance for this year, Embraer said it aims to deliver 120 to 130 executive jets. It added that it estimates revenue between $5.2-5.7bn, with a conservative objective of $150m or better in free cash flow.
In an investors call, Francisco Gomes Neto, CEO, Embraer said: “These results indicate that we are moving consistently in our transformation journey towards sustainable growth.”
He added: “Challenges remain ahead with the supply chain, however, we remain optimistic about the future of the company in terms of growth, revenue and profitability.”
Embraer 2022 results – at a glance
- Total aircraft delivered up 12.7%
- Total backlog up $500m to $17.5bn
- 50 business jets delivered in Q4
- 102 business jets delivered in 2022, up 10%