Arab Today, arab today embraer profits enter third quarter descent
Last Updated : GMT 16:46:11
Arab Today, arab today
Arab Today, arab today

Embraer profits enter third quarter descent

Arab Today, arab today

Arab Today, arab today Embraer profits enter third quarter descent

The logo of Brazil's aircraft manufacturer Embraer
Sao Paulo - AFP

Brazil's Embraer, the world's third biggest commercial aircraft manufacturer, announced $109 million losses for the third quarter of 2015, blaming the weakening Brazilian real for fueling higher tax bills.

Embraer said the falling currency directly caused $24.2 million in losses and an extra $164.4 million in taxes.

"The real devaluation of 28% versus the US dollar during the quarter explains most of the income tax variation, due to non-cash deferred income taxes on non-monetary assets," Embraer said in a statement.

Excluding that income tax hit, Embraer saw a $71.5 million profit.

EBITDA -- earnings before interest, taxes, depreciation and amortization -- rose 16.2 percent to $158 million.

Embraer reported deliveries of 21 commercial and 30 executive jets for the quarter, with 68 commercial and 75 executive jets in the first nine months of the year.

The backlog is little changed at $22.8 billion.

The real's sinking -- under pressure from Brazil's recession, political turmoil and a credit downgrade -- has added volatility to the bottom line at other major corporations in the third quarter, including mining giant Vale.

Longer-term, the depreciation has helped the export-heavy businesses with revenue in dollars

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today embraer profits enter third quarter descent Arab Today, arab today embraer profits enter third quarter descent

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today embraer profits enter third quarter descent Arab Today, arab today embraer profits enter third quarter descent

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday