Achieved record revenue and a $31.6 billion backlog, providing long-term visibility driven by a 1.7:1 consolidated book-to-bill ratio in 2025.

Consolidated the E2 program as a small narrow-body benchmark with 157 new orders and 140 options across all continents during the year.

Executive Aviation reached record revenues of approximately $750 million in Q4, supported by the Phenom 300's 14-year streak as the world's best-selling light jet.

Defense & Security growth of 36% was primarily attributed to higher volumes of the KC-390 and A-29 Super Tucano, benefiting from improved client mix and operating leverage.

Implemented production stability initiatives through digitalization and AI tools to mitigate ongoing supply chain bottlenecks and support 2026 growth.

Strategic positioning was reinforced through new partnerships with Mahindra and Adani Group in India and Northrop Grumman in the U.S. to expand market footprint.

Service and Support revenue rose 18% due to volume increases and the ramp-up of the OGMA GTF engine shop, despite temporary margin pressure from new operation costs.

Forecasts 2026 revenue between $8.2 billion and $8.5 billion, representing 10% year-over-year growth at the midpoint.

Commercial Aviation delivery guidance is set at 80 to 85 aircraft, with management aiming for the high end of the range as supply chain conditions improve.

Executive Aviation targets 160 to 170 jet deliveries for 2026, supported by capacity expansion in production bottlenecks and efficiency gains.

EBIT margin guidance of 8.7% to 9.3% assumes a conservative stance regarding U.S. import tariffs, with potential upside if current 0% rates remain stable.

Midterm goals focus on converting 50% of EBITDA into free cash flow, with a 2026 adjusted free cash flow target of $200 million or higher.

U.S. import tariffs resulted in a $27 million impact in Q4 and $54 million for the full year 2025, primarily affecting the Executive Aviation segment.

Non-recurring infrastructure costs of $20 million weighed on Q4 margins, though partially offset by ongoing cost reduction initiatives.

Achieved a net cash position of $109 million by year-end 2025, significantly improving the balance sheet from a previous net debt position.

Executed liability management that extended average debt maturity from 3.7 to 9.1 years while reducing the average cost of debt to 5.5%.

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Management expects an RFP from the Indian Air Force for the Medium Transport Aircraft (MTA) program still in 2025.

The Northrop Grumman partnership focuses on integrating an autonomous boom refueling system for the KC-390 to complement the U.S. Air Force fleet.

If sizable orders are secured in the U.S., Embraer intends to assemble and produce the aircraft locally.

All Embraer aircraft and parts are currently exempt from the 10% tariff as of February 2024, which management views as a return to a level playing field.

Approximately $25 million in tariff-paid inventory remains to be unwound, with 2/3 of the benefit expected in 2026 and the remainder in 2027.

Guidance remains conservative as management monitors the volatile geopolitical situation and potential policy changes.

Management is targeting a return to 100 commercial jet deliveries by 2027 or 2028, contingent on resolving specific supplier bottlenecks.

Current production times for the Praetor and Phenom lines have been reduced by half compared to 2021 levels through efficiency improvements.

While bottlenecks persist, management noted that raw material supply for aluminum and titanium is currently stable.

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