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Brazil’s Embraer Sees Deliveries, Revenue Growing in 2024 The world's third-largest planemaker behind Boeing (BA.N) and Airbus (AIR.PA) estimated it would deliver between 125 and 135 executive jets this year, compared with 115 in 2023. For the fourth quarter of 2023, Embraer reported 55% growth in adjusted net profit, to 350.6 million reais ($70.20 million). Quarterly revenue, on the other hand, fell nearly 7% to 9.73 billion reais.

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SAO PAULO- Brazilian planemaker Embraer expects both its aircraft deliveries and revenue to grow in 2024, but will still have to deal with supply chain issues, the company said on Monday.

The world’s third-largest planemaker behind Boeing (BA.N) and Airbus (AIR.PA) estimated it would deliver between 125 and 135 executive jets this year, compared with 115 in 2023.

Deliveries from its commercial aviation segment are expected to be between 72 and 80 planes, up from 64 aircraft it delivered last year.

It also forecast a growth of up to 21.5% in annual consolidated revenue to a range of $6.0 billion to $6.4 billion.

In 2023, its yearly revenue was $5.27 billion, within its estimated range of $5.2 billion to $5.7 billion.

Despite the growth outlook, the planemaker said it “continues to face challenges in the supply chain, which negatively impacted the 2023 results.”

For the fourth quarter of 2023, Embraer reported 55% growth in adjusted net profit, to 350.6 million reais ($70.20 million).

Quarterly revenue, on the other hand, fell nearly 7% to 9.73 billion reais.

The company’s net debt, excluding its electric aircraft subsidiary Eve, shrank to 3.9 billion reais, explained by “the significant positive free cash flow generated in the quarter,” it said.

($1 = 4.9943 reais)

-Peter Frontini

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