Embraer reported (09-Feb-2012) it met its 2011 revenue guidance, with revenue from its aviation services and the defense and security segments above the company’s guidance. Combined with additional commercial aircraft deliveries, this helped offset the shortfall in executive jet deliveries. Embraer delivered 105 commercial jets and 99 executive jets in 2011. Embraer booked a total of 124 new orders for the E-Jets family, which helped assure a reasonably stable backlog, totaling USD15.4 billion at the end of 2011. The company’s net cash position at the end of 2011 was approximately USD470 million, as a result of the strong deliveries in 4Q11. In 2012, Embraer expects to deliver between 105 and 110 commercial jets, 75 to 85 light executive jets, and 15 to 20 large executive jets. Revenue is expected to be USD5.8-6.2 billion, with commercial aviation contributing USD3.7-3.85 billion. Operating expenses are expected increase, due to a 10% higher remuneration agreement signed with workers at the end of 2011. 2012 EBIT margin is forecast at 8-8.5% and 2012 EBITDA margin is forecast at 11.5-12.5%. [more - original PR]
Embraer expects up to 110 commerical aircraft deliveries and USD6.2bn in revenue in 2012
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