SÃO PAULO, Oct. 31, 2016
/PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; BM&FBOVESPA:
EMBR3) releases its third quarter 2016 results.
HIGHLIGHTS
- During 3Q16, Embraer delivered 29 commercial jets and 25
executive jets (13 light and 12 large);
- The Company's firm order backlog ended the quarter at
US$ 21.4 billion versus US$ 21.9 billion in 2Q16;
- Revenues in 3Q16 grew 17.9% on a year-over-year basis to
US$ 1,514.3 million, driven by higher
revenues in the Commercial Aviation and Defense & Security
segments;
- Consolidated gross margin in 3Q16 was 18.8%, an increase from
the 17.5% registered in 3Q15;
- In 3Q16, the Company booked in Other operating income
(expense), net an additional US$ 5.5
million loss contingency related to finalization of
negotiations related to the U.S. Foreign Corrupt Practices Act
(FCPA), and a US$ 118.1 million
provision related to costs for the first round of voluntary
dismissal;
- Adjusted EBIT and Adjusted EBIT margin in 3Q16, excluding the
impacts of the loss contingency and provision listed above, were
US$ 94.7 million and 6.3%,
respectively. Adjusted EBITDA and Adjusted EBITDA margin in the
quarter, excluding these impacts, were US$
187.3 million and 12.4%, respectively;
- 3Q16 Net loss attributable to Embraer Shareholders and Loss per
basic ADS totaled US$ (33.7) million
and US$ (0.1848), respectively;
- 3Q16 Adjusted Net Income, which excludes non-cash deferred
income taxes and social contribution largely related to foreign
exchange variation on non-monetary assets, as well as the
aforementioned non-recurring items, was US$
79.1 million. Adjusted earnings per basic ADS totaled
US$ 0.4337 in 3Q16;
- Embraer announced on October 24,
2016 the terms of the agreements for the resolution of
investigations with the U.S. and Brazilian authorities. As part of
the settlement, the Company agreed to pay US$ 205.5 million to these authorities. The
settlement further provides that as long as the terms of the
agreements are fully honored, no charges will be brought against
the Company.
- The Company reiterates all formal aspects of its deliveries and
financial Guidance for 2016.
MAIN FINANCIAL INDICATORS
|
in millions of U.S
dollars, except % and earnings per share data
|
|
2Q16
|
3Q15
|
3Q16
|
YTD16
|
|
Revenue
|
1.366,4
|
1.284,6
|
1.514,3
|
4.189,7
|
|
EBIT
|
(127,4)
|
84,4
|
(28,9)
|
(70,6)
|
|
EBIT Margin
%
|
-9,3%
|
6,6%
|
-1,9%
|
-1,7%
|
|
Adjusted
EBIT
|
72,6
|
84,4
|
94,7
|
253,0
|
|
Adjusted EBIT
Margin
|
5,3%
|
6,6%
|
6,3%
|
6,0%
|
|
EBITDA
|
(47,7)
|
158,0
|
63,7
|
183,6
|
|
EBITDA Margin
%
|
-3,5%
|
12,3%
|
4,2%
|
4,4%
|
|
Adjusted
EBTIDA
|
152,3
|
158,0
|
187,3
|
507,2
|
|
Adjusted EBTIDA
Margin
|
11,1%
|
12,3%
|
12,4%
|
12,1%
|
|
Adjusted Net Income
¹
|
44,1
|
71,5
|
79,1
|
121,5
|
|
Net loss attributable
to Embraer Shareholders
|
(99,4)
|
(109,6)
|
(33,7)
|
(29,2)
|
|
Losses per share -
ADS basic (US$)
|
(0,5448)
|
(0,6013)
|
(0,1848)
|
(0,1601)
|
|
Net Debt
|
(613,3)
|
(643,9)
|
(652,7)
|
(652,7)
|
|
Derived from
unaudited financial information.
|
|
|
|
|
For additional information, please check the full document in
our website: http://ri.embraer.com.br
Follow Embraer's IR Department on twitter: @IREmbraer
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 3Q16 Results
on Monday, October 31, 2016 at
10:30AM (NY). The conference call
will also be broadcast live over the web at
http://ri.embraer.com.br
Telephones:
Operator Assisted (US/ Canada) Toll-Free Dial-In Number: (877)
846-1574
Operator Assisted International Dial-In Number: (708) 290-0687
Code: 81292835
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/embraer-releases-third-quarter-2016-results-300353928.html
SOURCE Embraer S.A.