Embraer turned a $164 million profit in 2023 as it ramped up deliveries of new commercial and business jets and benefited from a particularly strong fourth quarter.
By comparison, the Brazilian manufacturer lost $185 million in 2022.
The 2023 profit came on revenue of $5.3 billion, which was up 16% year on year partly due to a bump in deliveries of new commercial and business jets.
Embraer handed over 179 civilian aircraft last year (including 64 commercial and 115 business aircraft), up from 159 deliveries (57 commercial and 102 business jets) in 2022.
The company had posted losses in the first and second quarters of 2023, and a $61 million profit in the third. But Embraer swung to a $193 million profit in the fourth quarter, leaving it solidly in the black for the full year.
The manufacturer’s commercial aircraft division generated $1.8 billion in 2023 revenue, up 20% year on year. Its executive aviation business brought in revenue of $1.4 billion last year (up 13% year on year), while its defence and security business logged $516 million in revenue (up 25%) and its aftermarket services and support unit generated revenue of $1.4 billion (up 12%).
Embraer expects its revenue will continue climbing in 2024, predicting the figure will hit $6-6.4 billion. It also anticipates delivering 72-80 commercial aircraft and 125-135 business aircraft this year, for a total 197-215 deliveries.
The company ended 2023 with a backlog of firm aircraft orders valued at $18.7 billion, up from $17.5 billion one year earlier.
