MIAMI – Brazilian aerospace conglomerate Embraer has just released its fourth quarter and fiscal year 2020 earnings report.
According to the company’s report, Embraer’s “revenues in 4Q20 reached US$1,841.4m and for the fiscal year 2020 were US$3,771.1m, representing year-over-year declines of 11.7% and 31.0%, respectively, versus their prior-year periods.”
Embraer ended the year with total cash of US$2.8bn, steady when compared to the US$2.8bn in cash at the end of FY 2019, while its net debt at the end of FY 2020 was US$1,695.7m.
In a press release from February 12, Embraer confirmed it had delivered 71 jets in the fourth quarter of 2020. Of these, 28 were commercial aircraft, and 43 were executive jets, including 23 light and 20 large ones.
Cash Flow Improved in Q4
The company reported an improvement in its cash flow for the quarter, generating US$725.1m during the period, with a full-year cash flow of US$990.2m.
Adjusted net loss for the quarter was US$12.5m, “with an adjusted loss per ADS of US$0.07, while adjusted net loss for 2020 was US$463.7m, with an adjusted loss per ADS for the period of US$2.52,” the report stated.
In a press release from February 12, Embraer confirmed it had delivered 71 jets in the fourth quarter of 2020. Embraer delivered 28 commercial and 43 executive jets (23 light/20 large) in the quarter, totaling 44 commercial jets and 86 executive jets (56 light/30 large) overall in the year.
Due to the COVID-19 uncertainties, Embraer has decided not to publish its financial and delivery guidance for the current year at this time.
Featured image: Embraer PR-ZIQ Embraer 190-400STD. Photo: abrizio Spicuglia/Airways