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Embraer profits down in 2Q2011

29-Jul-2011 11:58 AM

Embraer revenue stable – financial highlights:

  • Three months ended 30-Jun-2011:
    • Revenue: USD1359 million, +0.1% year-on-year;
      • Commercial aviation: USD887.6 million, -3.0%;
    • EBIT: USD105.6 million, -13.4%;
    • EBITDA: USD153.1 million, -7.8%;
    • Net profit: USD96.4 million, +67.9%;
  • Six months ended 30-Jun-2011:
    • Revenue: USD2414 million, +2.7%;
    • EBIT: USD199.9 million, -9.0%;
    • Net profit: USD201.5 million, +147.5%;
    • Total asset: USD9253 million, +5.6% when compared to period ended 31-Mar-2011;
    • Cash and cash equivalents: USD1351 million, +3.7% when compared to period ended 31-Mar-2011;
    • Total liabilities: USD5995 million, +7.8% when compared to period ended 31-Mar-2011;
  • FY2011 forecast:
    • Revenue: USD5800 million;
    • EBIT: USD465 million;
    • EBIT margin: +8%, up from its previous guidance of +7.5%;
    • EBITDA margin: +12%, up from its previous guidance of +11%. [more]

Embraer: “As previously mentioned, initial signs of a recovery in the Commercial aviation segment have been observed since the middle of 2010 and a recovery is well underway. Certain specific additional market opportunities have presented themselves during the first half of this year, particularly in the commercial aviation and defence and security segments, and Embraer has been able to take advantage of some of these opportunities,” Company statement. Source: Embraer, 28-Jul-2011.