Brazilian aircraft manufacturer Embraer recorded $4.5bn revenue in 2022, $2bn of which came in the fourth quarter (Q4 2022) and left it with an adjusted EBIT of $166.2 million for the three-month period.
The company ended the year with an order backlog worth $17.5bn and cash flow of around $540 million, after delivering 159 aircraft during the year, with half the deliveries coming in Q4 2022.
Despite "supply chain constraints," Deliveries were up 12.7% on 2021 and were made up of 102 executive aircraft and 57 commercial. But the backlog value surged by $500 million compared with the year before. At the same time, revenues were up 50% compared with 2021.
The adjusted EBIT was up almost 200% on Q4 2021, Embraer said, with EBIT and EBIDTA margins of 8.3% and 11.5% reported for Q4 2022.
The company said it expects to up deliveries up to 70 commercial and 130 executive aircraft in 2023, for revenue of up to $5.7bn, adjusted EBIT margin of up to 7.4%, EBIDTA margin of around 10% and cash flow of $150 million "or better" for the year.