Brazilian aircraft manufacturer Embraer is targeting 2023 to 2026 as growth years after the downturn triggered by Covid, the company’s president has said.
Francisco Gomes Neto said the company was hoping to triple the inventory turnover, with the recovery starting as early as this year.
Embraer said it had already secured enough orders to match its revenue goals for 2022/23.
Gomes Neto said Embraer was also seeking to bolster its cash generation to finance projects using its own resources.
$5 billion worth of orders
Chief Financial Officer Antonio Carlos Garcia added that Embraer had $5 billion worth of orders, and said the only question mark for the company was whether its partners could deliver those aircraft.
Embraer’s first quarter 2022 earnings results released at the end of April showed it had delivered 14 jets over the period, of which six were commercial aircraft and eight were executive jets (six light and two mid-size).
The firm order backlog ended 1Q22 at US$ 17.3 billion (up by US$0.3 billion versus 4Q21). Embraer said this was the highest quarter backlog since 2Q18, “driven by solid order activity”.
Revenues reached US$ 600.9 million in the quarter, down 26 per cent compared to 1Q21, due to almost one month of production shut down in January.