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Embraer Media Day 2024

The first day of Embraer`s 2-Day Media Day 2024 program, hosted at Ozires Silva Facility in São José dos Campos, kicked off on June 18, with a welcome speech delivered by Andreza ALBERTO, Vice President of People, ESG, and Corporate Communications at Embraer. Then Embraer President and CEO Francisco Gomes NETO took the floor and delivered a comprehensive speech titled `Embraer Growth Strategy.`

Date: June 19, 2024

In his speech, Embraer President and CEO Francisco Gomes NETO pointed out that Embraer was celebrating its 55th anniversary. With 19.000+ employees, Embraer has so far completed delivery of over 9.000 aircraft and served over 60 governments and military forces. Embraer has over 2.000 clients across all business units.

At his address, Gomes NETO also underlined that the primary focus of the Embraer from a commercial standpoint was making the OEM a US$10 Billion company by 2030. "We're studying opportunities, not only in commercial but in other business units. But we're really focused on selling the aircraft. We have to improve further to improve our financial future and generate more cash," Gomes NETO added. During his address, he also outlined Embraer's 'Production Leveling' plan, which covers the steps the OEM company plans to take to increase efficiency and productivity, as well as improve its cash flow. Responding to a question on whether Embraer has ongoing plans and studies to develop a larger narrow-body airliner, Embraer President and CEO Francisco Gomes NETO underlined that Embraer is not working on a larger narrow-body aircraft to rival that of Airbus and Boeing.

Delivering a speech on financial highlights of Embraer, Antonio Carlos GARCIA, Embraer's Chief Financial Officer (CFO), underlined that the company has been investing around 30-40% of its cash flow in research and development (R&D) projects. According to Embraer's Q1 2024 results, shared by Embraer CFO GARCIA, 53% of the order backlog, which amounted to US$21.1 Billion, is registered by the Commercial Aviation business segment, 22% by Executive Aviation business segment, 15% by Services & Support business segment and 11% by Defense & Security business segment. Embraer CFO GARCIA pointed out that during 2024 Q1, Embraer has registered net revenue of US$5.448 Billion, up US$180 Million from 2023 and estimated to register US$6 to US$6.4 Billion net revenue by the end of 2024, which would be far beyond compared to before COVID figure (US$5.463 Billion in 2019).

According to Embraer's Q1 2024 results, there is strong growth for Embraer, with an overall backlog of US$21.1 Billion – the highest level in the past 7 years, up US$2.4 Billion or 13%, from Q4 2023. The biggest increase in this backlog is generated by the Commercial Aviation business segment, which posted a US$11.1 Billion backlog, representing a jump of US$2.3 Billion from Q4 2023. Overall, the Commercial Aviation business segment has a firm order backlog of 381 aircraft: 179 E195-E2s, 15 E190-E2s, and 187 E175s. Notable airlines with a large backlog include Porter Airlines, which is awaiting 43 E195-E2 jets, and Republic Airlines, which has 47 E175 jets. Embraer Commercial Aviation delivered 868 aircraft out of 1.249 firm orders.

The only business segment that saw a dip in growth quarter-on-quarter was its Defense and Security segment, decreasing by 4%. At his address, GARCIA described Embraer's current market share across all its business segments, with 62% in North America, 20% in Europe, and 9% in Brazil. Other areas, such as APAC, are emerging, with India, Saudi Arabia, and African markets also targeted by Embraer.