SAO JOSE DOS CAMPOS, Brazil, June 1 (Reuters) – Brazilian planemaker Embraer SA (EMBR3.SA) is assessing mergers and acquisitions (M&A) opportunities in providers and support because it seems to be to optimize operations as a part of its “fit for growth” plan, executives stated on Wednesday.
The search contains Embraer’s personal government jets division as the corporate sees it as complementary to the Services & Support one.
Michael Amalfitano, the pinnacle of the chief jets enterprise, stated throughout an occasion that almost all of such opportunities is perhaps in the United States and Europe, the place the majority of its purchasers are.
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“We are reassessing that network, saying ‘what is the right balance? Is there an opportunity for us to build, or merge, or buy that will give us some more optimized way of taking care of customers for the four segments of executive aviation?’,” Amalfitano stated.
The demand for government jets has been overwhelming, with Embraer’s anticipating to ship between 100 and 110 jets this yr.
Embraer’s backlog at the moment stretches into the third quarter of 2024, Amalfitano stated.
His remarks got here because the chief government of Embraer Services & Support, Johann Bordais, confirmed the unit was pursuing M&A opportunities.
“M&A is something we are pursuing just to grow. The priority will be on the executive aviation side, we want to make sure we are really increasing our footprint on the support side of executive aviation, but definitely commercial aviation also,” Bordais stated.
The Services & Support unit is assured that it’ll attain $2 billion in income in 2026, he added, from $1.2 billion anticipated for 2022 and $1.1 billion reported final yr.
It accounted for 45% of Embraer’s internet income in the primary quarter, or $271.2 million, however Bordais stated {that a} 20-25% vary can be “more natural” because the business aviation enterprise recovers from the pandemic downturn.
Embraer informed journalists this week it had already received sufficient plane orders to satisfy the highest finish of its 2022 goal income vary, and likewise offered knowledge on its navy, business and electrical plane divisions. learn extra
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Reporting by Gabriel Araujo; Editing by Christian Plumb and Marguerita Choy
Our Standards: The Thomson Reuters Trust Principles.
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