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In the fourth quarter of 2013 (4Q13), Embraer
delivered 32 commercial and 53 executive (38 light
and 15 large) jets and ended the year with total
deliveries of 90 commercial and 119 executive
(90 light and 29 large) aircraft. As a result
of aircraft deliveries and growth in the Company’s
Defence and Security segment, 4Q13 and 2013 Revenues
reached $2.304 billion and $6.235 billion, respectively,
also meeting the Company’s Revenue Guidance range
of $5.9 to $6.4 billion. Strong Operating Cash
Flow of $564.6 million during 2013 increased the
Company’s net cash position to $429.3 million
at the end of the year.
For 2014, Company Guidance is for expected Net
Revenues of $6.0 to $6.5 billion, driven by growth
in the Defence & Security segment and expected
deliveries of 92 to 97 jets in the Commercial
Aviation segment and 25 to 30 large jets and 80
to 90 light jets in the Executive Jets segment.
The Company’s backlog ended 2013 at a value of
$18.2 billion, representing 46 per cent growth
from the $12.5 billion reported at the end of
2012.
For 2013, the Commercial Aviation segment accounted
for 53 per cent of consolidated Revenues, Defence
& Security accounted for 19.2 per cent, Executive
Jets made up 26.4 per cent, and the Other segment
made up the remaining 1.4 per cent of total Revenues.
The breakdown by segment of annual Revenues is
in line with Company Guidance, with slightly lower
participation from the Defence & Security segment’s
Revenues due to the effect of the devaluation
of the Brazilian Real and its translation impact
on results, as roughly half of segment revenues
are denominated in Reals. Consistent with the
Company’s diversification strategy, in 2013 the
Executive Jets and Defence & Security segments
showed significant year-over-year Revenue growth
of 27.3 per cent and 14.5 per cent, respectively.
Aiming for its commitment of providing the highest
level of support and services to its clients,
Embraer commenced MRO (Maintenance, Repair and
Overhaul) operations at its São Paulo Service
Center in November 2013. The FBO operation of
this brand new Service Centre is scheduled to
enter into service during early 2014.
In the defence and security segment, Embraer
is currently leading several projects that are
important for Brazil, such as the development
of the KC-390 medium lift military transport jet
and the Integrated Border Monitoring System (SISFRON).
Embraer Defence & Security finished adapting the
hangar at its plant in Jacksonville, Florida and
materials for assembling the Super Tucano aircraft
for the Light Air Support (LAS) programme of the
United States Air Force (USAF) have started to
arrive to allow for production to begin in February
2014.
In the Air Traffic segment, Atech held field
acceptance tests (SAT) of such strategic systems
as SIGMA and versions of SAGITARIO in several
regions of Brazil and signed a new contract for
implementing the SAGITARIO system in 19 Approach
Controls (APPs), which added $83.4 million to
the company’s backlog.
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