Brazil airplane giant posts $341 mln profits in 2010
mars 25, 2011 Laisser un commentaire
SAO PAULO – Brazil’s Embraer, the world’s third largest commercial airplane manufacturer, on Thursday announced over $340 million in profits in 2010.
The company said in a statement that it had posted profits of 600.2 million reals, or $341 million according to the average 2010 exchange rate, with a total benefit for shareholders of 573.6 million reals, or $326 million.
During the past year the company delivered 101 commercial aircraft and 145 business aircraft, « exceeding annual delivery projections in all categories, » it said.
In 2009 the firm delivered 244 aircraft and posted a profit of $498 million.
Embraer’s net income in 2010 was $5.35 billion, with 54 percent coming from the commercial aircraft sector.
The firm said it was hurt by the devaluation of the US dollar against the real, but that 2010 brought « concrete signs of recovery » following the global economic crisis.
The aviation manufacturer expects a higher profit of $420 million this year and a net income of $5.6 billion.
With more than 17,000 employees, Embraer is the third largest airplane manufacturer behind global giants Boeing and Airbus.
by Laurent Thomet
(c) 2011 AFP