28-Mar-2011 3:57 PM
Embraer ends year with solid final quarter
Analysis
Embraer reported a net profit of USD122.7 million in 4Q2011, up 29.3% year-on-year, but this was not enough to prevent full-year net profit slipping 29%, to USD330 million. Commercial aircraft deliveries dropped 18% to 100 aircraft. Shares in the company slipped 6.4%. Embraer expects 2011 orders to continue to recover, but will not increase significantly until 2012.
Embraer financial highlights:
Three months ended 31-Dec-2010:
- Revenue: USD1970 million, +20.9% year-on-year;
- Commercial aviation: USD930.8 million, +29.3%;
- Aviation services: USD153.5 million, -15.7%;
- EBIT: USD132.4 million, +237.8%;
- EBITDA: USD197.2 million, +88.0%;
- Net profit: USD122.7 million, +29.3%;
- Aircraft deliveries:
- Commercial aviation: 30, +15.4%;
12 months ended 31-Dec-2010:
- Revenue: USD5364 million, -2.4%;
- Commercial aviation: USD2889 million, -14.6%;
- Aviation services: USD563.8 million, -6.7%;
- EBIT: USD391.7 million, +3.2%;
- EBITDA: USD610.9 million, +0.4%;
- Net profit: USD330.2 million, -29.0%;
- Aircraft deliveries:
- Commercial aviation: 100, -18%;
* 2011 forecast:
- Revenue: USD5600 million;
- Commercial aviation: USD3100 million;
- Aviation services and other business: USD700 million;
- EBIT: USD420 million;
- EBITDA: USD615 million.
Selected Aerospace daily share price movements (% change): 28-Mar-2011
