Embraer has reported a net profit of $80.8m for 2015, a 76.8 per cent fall from the $347.7m the aircraft manufacturer posted for the previous year.
In group results announced on Thursday (March 3), the Brazilian OEM’s overall revenues fell 5.7 per cent year-on-year to $5.9bn while operating profits were also down 39 per cent to $331.5m in 2015.
Despite the fall, Embraer’s commercial division saw earnings increase by 14.4 per cent to $1.1bn while revenues rose 5.9 per cent to $3.3bn.
Embraer also confirmed a $100.9m provision resulting from Republic Airways filing for bankruptcy at the end of February.
The US carrier had firm orders for 28 E175 aircraft scheduled for delivery between 2016 and 2017.
For the period up to December 31, 2015, the aircraft manufacturer said its commercial aviation firm order backlog stood at 513 aircraft with a value of $15.8bn while its delivery target for 2016 is 105 to 110 aircraft.