Embraer Reports Record Order Growth and Revenue Surge in Q2 2024
Embraer, a leading aircraft manufacturer in Brazil, achieved a 20% increase in its order backlog for Q2 2024, reaching $21.1 billion.
This marks the highest value for this period in seven years. Between In April and June, the company delivered 47 aircraft, up 88% from Q1, including 17 commercial and 30 executive jets.
Embraer’s adjusted net profit for Q2 2024 rose by 20%, reaching R$279.3 million ($50 million).
Revenue surged to R$6.3 billion ($1.13 billion), a 26% year-over-year increase and a 71% rise from the previous quarter.
The adjusted EBITDA was R$724.1 million ($130 million), showing a 16.5% annual increase.
Strong performance in commercial and executive aviation, with respective growth rates of 56% and 39% year-over-year, drove the aviation sector’s recovery.
Despite these gains, the Defense & Security segment experienced a 34% revenue decline due to delays in revenue recognition.
A notable achievement in Q2 was the delivery of the second C-390 Millennium cargo aircraft to the Portuguese Air Force. Portugal ordered five such aircraft in 2019, including a comprehensive service chain.
Upcoming deliveries to other European nations are expected to further expand this sector.
Embraer Reports Record Order Growth and Revenue Surge in Q2 2024
Looking ahead, Embraer anticipates a 20% revenue increase for 2024. The company projects delivering around 80 commercial jets and approximately 140 executive jets next year.
By 2030, Embraer aims to achieve an annual revenue of $10 billion, potentially rising to $14 billion when including its subsidiary Eve, which focuses on electric vertical takeoff and landing (eVTOL) vehicles.
These developments underline Embraer’s robust recovery and strategic growth in both aviation and defense markets.
Q2 2024 marks a strong rebound for the company, positioning it for future growth amid a recovering global aviation industry.
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