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Operating Segments

12 Months Ended

Dec. 31, 2024

36.	OPERATING SEGMENTS

The Management defined the Company’s operating segments based on the reports used for strategic decision making, reviewed by the chief operating decision-maker.

The chief operating decision-maker is the Chief Executive Officer, who carries out his analysis of the business based on the Company’s consolidated operating results, considering both the geographical perspective and the product sold. Geographically, Management considers the performance of Brazil, North America, Europe, Latin America (except Brazil), and Asia Pacific. From a product perspective, Management considers the activities of Commercial Aviation, Executive Aviation, Defense & Security, Services & Support, and Other Segments.

In general, balances and transactions that are not directly allocated to a specific operating segment, but contribute to its operation, such as expenses of corporate areas, are allocated on a

pro-rata

basis using the revenue from each segment as an allocation factor.

36.1 Commercial Aviation

The Commercial Aviation segment mainly involves the development, production, and sale of commercial jets:

•

E-Jets

175 E1: aircraft with 70 to 90 seats.

•

E-Jets

E2: aircraft with 88 to 146 seats.

36.2 Defense & Security

This segment mainly includes the development and production of

C-390

Millennium and

A-29

Super Tucano, both military aircraft.

Additionally, this segment includes operations mainly involving research, development of software and integrated information systems, communications, border monitoring and surveillance, space systems (satellites), aircraft modernization services and services support, development and manufacture of radars and Command, Control, Communications, Computer, Intelligence, Surveillance and Reconnaissance systems (C4ISR).

36.3 Executive Aviation

The Executive Aviation segment comprises the development, production, and sale of executive jets, including the Phenom and Praetor models.

36.4 Services & Support

This business unit focused on providing a complete portfolio of solutions for operators of Embraer aircraft and products in Commercial Aviation, Executive Aviation, and Defense & Security segments.

The main services offered are field support, technical support, flight operations solutions, aircraft modification, materials management, optimized maintenance solutions, and training programs.

36.5 Other Segments

The activities reported under Other Segments consist of businesses with no material impact on the results presented in these consolidated financial statements:

•

Supply of structural parts and hydraulic systems and production of agricultural crop-spraying aircraft.

•

Development and certification of eVTOLs, creation of a maintenance and service network for eVTOLs and creation of an air traffic control system for eVTOLs (UAM Business), through Eve Air Mobility.

•

Development and manufacturing of electrical propulsion systems for aeronautical use, including vertical

take-off

and landing vehicles and fixed-wing aircraft.

•

Cybersecurity solutions, including specialized cybersecurity diagnostics, architecture and implementation services, as well as software and technical products for controlling and defending environments.

Result by

segment


12.31.2024
	Commercial Aviation			Defense & Security			Executive Aviation			Services & Support			Other Segments			Total reportable Segments			Unallocated*		Total
Revenue		2,208.6			720.9			1,762.7			1,636.5			66.0			6,394.7			—		6,394.7
Cost of sales and services		(2,008.9	)		(590.9	)		(1,407.7	)		(1,179.0	)		(55.1	)		(5,241.6	)		—		(5,241.6	)
Gross profit		199.7			130.0			355.0			457.5			10.9			1,153.1			—		1,153.1
Operating income (expense)		(144.5	)		(85.4	)		(149.0	)		(187.5	)		(67.3	)		(633.7	)		148.1		(485.6	)

Operating income (loss) before financial result		55.2			44.6			206.0			270.0			(56.4	)		519.4			148.1		667.5


12.31.2023
	Commercial Aviation			Defense & Security			Executive Aviation			Services & Support			Other Segments			Total reportable Segments			Unallocated*			Total
Revenue		1,846.8			515.4			1,408.2			1,417.6			80.5			5,268.5			—			5,268.5
Cost of sales and services		(1,698.3	)		(429.6	)		(1,134.8	)		(1,039.0	)		(57.2	)		(4,358.9	)		—			(4,358.9	)
Gross profit		148.5			85.8			273.4			378.6			23.3			909.6			—			909.6
Operating income (expense)		(124.6	)		(57.5	)		(146.6	)		(163.4	)		(55.9	)		(548.0	)		(47.1	)		(595.1	)

Operating income (loss) before financial result		23.9			28.3			126.8			215.2			(32.6	)		361.6			(47.1	)		314.5


12.31.2022
	Commercial Aviation			Defense & Security			Executive Aviation			Services & Support			Other Segments			Total reportable Segments			Unallocated*			Total
Revenue		1,543.9			412.6			1,244.4			1,266.7			72.8			4,540.4			—			4,540.4
Cost of sales and services		(1,382.3	)		(326.9	)		(953.2	)		(912.5	)		(53.3	)		(3,628.2	)		—			(3,628.2	)
Gross profit		161.6			85.7			291.2			354.2			19.5			912.2			—			912.2
Operating income (expense)		(145.5	)		(76.4	)		(141.5	)		(203.4	)		(386.4	)		(953.2	)		(69.5	)		(1,022.7	)

Operating income (loss) before financial result		16.1			9.3			149.7			150.8			(366.9	)		(41.0	)		(69.5	)		(110.5	)

(*)	Unallocated items from operating income (expense) include certain corporate demands not directly related to the operating segments. In 2024, it mainly includes the reimbursement of expenses received as a result of the arbitration (Note 32).

Revenue by geographic area and operating segment


12.31.2024
	Commercial Aviation		Defense & Security		Executive Aviation		Services & Support		Other Segments		Total
North America		1,615.6		0.1		1,330.3		835.1		0.1		3,781.2
Europe		440.8		384.6		204.1		408.0		—		1,437.5
Asia Pacific		29.0		60.2		35.3		131.7		—		256.2
Latin America, except Brazil		95.4		81.2		36.7		53.9		—		267.2
Brazil		0.3		181.9		156.3		127.0		65.9		531.4
Others		27.5		12.9		—		80.8		—		121.2

Total		2,208.6		720.9		1,762.7		1,636.5		66.0		6,394.7


12.31.2023
	Commercial Aviation		Defense & Security		Executive Aviation		Services & Support		Other Segments		Total
North America		1,489.4		1.0		1,054.1		737.8		—		3,282.3
Europe		293.8		304.9		226.9		305.1		—		1,130.7
Asia Pacific		—		67.1		20.1		117.3		—		204.5
Latin America, except Brazil		32.2		—		21.4		44.6		—		98.2
Brazil		4.2		141.9		85.7		141.4		80.5		453.7
Others		27.2		0.5		—		71.4		—		99.1

Total		1,846.8		515.4		1,408.2		1,417.6		80.5		5,268.5


12.31.2022
	Commercial Aviation		Defense & Security		Executive Aviation		Services & Support		Other Segments		Total
North America		1,234.7		2.9		914.1		706.0		—		2,857.7
Europe		234.9		194.0		212.6		242.8		0.1		884.4
Asia Pacific		—		3.6		—		97.3		—		100.9
Latin America, except Brazil		—		1.4		20.0		31.6		—		53.0
Brazil		2.4		210.2		87.8		132.1		72.7		505.2
Others		71.9		0.5		9.9		56.9		—		139.2

Total		1,543.9		412.6		1,244.4		1,266.7		72.8		4,540.4

Revenue by category and operating segment


12.31.2024
	Commercial Aviation		Defense & Security		Executive Aviation		Services & Support		Other Segments		Total
Aircraft		2,199.8		—		1,762.7		—		40.5		4,003.0
Long-term contracts - aircraft and development		—		661.2		—		—		—		661.2
Others		8.8		16.5		—		17.9		0.3		43.5
Service		—		42.2		—		1,172.0		15.0		1,229.2
Spare Parts		—		1.0		—		446.6		10.2		457.8

Total		2,208.6		720.9		1,762.7		1,636.5		66.0		6,394.7


12.31.2023
	Commercial Aviation		Defense & Security		Executive Aviation		Services & Support		Other Segments		Total
Aircraft		1,834.1		13.2		1,408.2		—		44.7		3,300.2
Long-term contracts - aircraft and development		—		457.3		—		—		—		457.3
Others		12.7		—		—		17.7		0.7		31.1
Service		—		41.3		—		956.3		24.0		1,021.6
Spare Parts		—		3.6		—		443.6		11.1		458.3

Total		1,846.8		515.4		1,408.2		1,417.6		80.5		5,268.5


12.31.2022
	Commercial Aviation		Defense & Security		Executive Aviation		Services & Support		Other Segments		Total
Aircraft		1,540.6		26.0		1,244.4		—		31.1		2,842.1
Long-term contracts - aircraft and development		—		312.4		—		—		—		312.4
Others		3.3		6.5		—		1.4		0.8		12.0
Service		—		59.5		—		838.1		35.2		932.8
Spare Parts		—		8.2		—		427.2		5.7		441.1

Total		1,543.9		412.6		1,244.4		1,266.7		72.8		4,540.4

Assets by operating segment


12.31.2024
	Commercial Aviation		Defense & Security		Executive Aviation		Services & Support		Other Segments		Total reportable Segments		Unallocated		Total
Property, plant and equipment		625.7		177.5		465.3		656.8		16.0		1,941.3		—		1,941.3
Intangible assets		1,202.9		126.3		923.1		39.2		211.4		2,502.9		—		2,502.9
Right of use		4.2		4.2		14.4		80.3		1.6		104.7		—		104.7

Total		1,832.8		308.0		1,402.8		776.3		229.0		4,548.9		—		4,548.9


12.31.2023
	Commercial Aviation		Defense & Security		Executive Aviation		Services & Support		Other Segments		Total reportable Segments		Unallocated		Total
Property, plant and equipment		544.9		176.1		447.5		594.0		8.2		1,770.7		—		1,770.7
Intangible assets		1,191.4		92.9		905.2		31.0		82.6		2,303.1		27.9		2,331.0
Right of use		4.5		5.0		16.1		60.9		1.5		88.0		—		88.0

Total		1,740.8		274.0		1,368.8		685.9		92.3		4,161.8		27.9		4,189.7

Assets by geographic area


12.31.2024
	North America		Europe		Asia Pacific		Brazil		Total
Property, plant and equipment		449.1		398.5		76.4		1,017.3		1,941.3
Intangible assets		279.1		73.8		—		2,150.0		2,502.9
Right of use		72.0		15.0		1.4		16.3		104.7

Total		800.2		487.3		77.8		3,183.6		4,548.9


12.31.2023
	North America		Europe		Asia Pacific		Brazil		Total
Property, plant and equipment		399.2		336.1		69.6		965.8		1,770.7
Intangible assets		158.5		55.3		—		2,117.2		2,331.0
Right of use		63.0		3.2		2.1		19.7		88.0

Total		620.7		394.6		71.7		3,102.7		4,189.7