Embraer announces fourth quarter and full 2013 results

Embraer has announced its annual results, stating that, excluding non-recurring items, it met all of its main 2013 Guidance figures, including aircraft deliveries, total revenues, as well as EBIT and EBITDA margins (20.1% and 23.6%, respectively, for 4Q13 and fiscal year 2013).

In the fourth quarter of 2013 (4Q13), Embraer delivered 32 commercial and 53 executive jets and ended the year with total deliveries of 90 commercial and 119 executive aircraft.

The company’s backlog ended 2013 at a value of $18.2 billion, representing 46% growth from the $12.5 billion reported at the end of 2012.

On a segment basis, the company’s revenue mix in 4Q13 was roughly similar to the mix reported in 4Q12, with a slightly higher contribution from the Commercial Aviation segment at 48.6% of total revenues versus 45.5% in the prior year, which was offset by a slightly lower contribution from the Executive Aviation segment at 34.1% of 4Q13 revenues compared with 37.5% in 4Q12.

In the Commercial Aviation segment, Embraer delivered 32 commercial aircraft in 4Q13 and 90 aircraft during the full year. The 4Q13 delivery split was one E170, 12 E175s, 14 E190s and five E195s. The full year split was four E170s, 24 E175s, 45 E190s and 17 E195s.

The total backlog of E-Jets at the end of 2013 stood at 429. The split among the different models in that backlog is one E170, 188 E175s, 73 E190s, 17 E195s, 100 E175-E2s, 25 E190-E2s and 25 E195-E2s.

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