SÃO PAULO, March 9, 2017
/PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; BM&FBOVESPA:
EMBR3) releases its fourth quarter and fiscal year 2016 results and
2017 outlook.
HIGHLIGHTS
- In 4Q16, Embraer delivered 32 commercial and 43 executive (25
light and 18 large) jets. The Company ended 2016 with 108 total
commercial aircraft deliveries and 117 executive (73 light and 44
large) jet deliveries, both meeting their respective Guidance for
2016;
- Revenues in 4Q16 reached US$ 2,027.8
million and in 2016 were US$ 6,217.5
million, slightly above the Company's 2016 Revenue Guidance
range of US$ 5.8 to US$ 6.2
billion;
- EBIT and EBITDA margins were 13.6% and 18.7%, respectively, in
4Q16, and for fiscal year 2016 the EBIT and EBITDA margins were
3.3% and 8.6%, respectively.
- During 4Q16 and 2016, the Company had several non-recurring
items related to the Republic Airways bankruptcy, the voluntary
dismissal program, and finalization of the FCPA investigation.
Excluding these non-recurring items, adjusted EBIT and EBITDA
margins in 4Q16 were 12.1% and 17.2%, respectively. For 2016
adjusted EBIT and EBITDA margins were 8.0% and 13.3%, respectively.
Adjusted EBIT and EBITDA margins met their Guidance of 7.0% to 8.0%
and 12.7% to 13.5% for 2016, respectively;
- Free Cash Flow adjusted for non-recurring cash impacts was
positive in 4Q16, at US$ 285.0
million, while 2016 Adjusted Free Cash Flow was negative, at
US$ (359.2) million. Adjusted Free
Cash Flow met the Company's guidance for usage of US$ (400) million or better for 2016;
- 4Q16 Net income attributable to Embraer Shareholders and
Earnings per ADS were US$ 195.2
million and US$ 1.06 per ADS
(US$ 209.1 million and US$ 1.14 per ADS excluding deferred tax and
non-recurring items). In 2016 Net income attributable to Embraer
Shareholders and Earnings per ADS were US$
166.1 million and US$ 0.90 per
ADS (US$ 290.5 million and
US$ 1.58 per ADS excluding
items);
- Embraer releases 2017 Guidance for total revenues of
US$ 5.7 to US$ 6.1 billion, driven by
expected deliveries of 97 to 102 jets in Commercial Aviation and
105 to 125 total jet deliveries in Executive Jets. Consolidated
EBIT margin is expected to be within a range of 8.0% to 9.0%, and
Guidance for Free Cash Flow is for a usage of US$ (150) million or better for 2017.
Main financial indicators
in millions of U.S
dollars, except % and earnings per share data
|
IFRS
|
(1) 3Q16
|
(1) 4Q15
|
(1) 4Q16
|
(2) 2015
|
(2) 2016
|
Revenue
|
1,514.3
|
2,074.4
|
2,027.8
|
5,928.1
|
6,217.5
|
EBIT
|
(28.9)
|
65.3
|
276.6
|
331.5
|
206.0
|
EBIT Margin
%
|
-1.9%
|
3.1%
|
13.6%
|
5.6%
|
3.3%
|
Adjusted
EBIT
|
94.7
|
166.2
|
246.1
|
432.4
|
499.1
|
Adjusted EBIT Margin
%
|
6.3%
|
8.0%
|
12.1%
|
7.3%
|
8.0%
|
EBITDA
|
54.3
|
150.7
|
378.5
|
614.5
|
536.1
|
EBITDA Margin
%
|
3.6%
|
7.3%
|
18.7%
|
10.4%
|
8.6%
|
Adjusted
EBITDA
|
177.9
|
251.6
|
348.0
|
715.4
|
829.2
|
Adjusted EBITDA
Margin %
|
11.7%
|
12.1%
|
17.2%
|
12.1%
|
13.3%
|
Adjusted Net
Income
|
38.9
|
29.7
|
209.1
|
272.0
|
290.5
|
Net income (loss)
attributable to Embraer Shareholders
|
(33.7)
|
111.2
|
195.2
|
69.2
|
166.1
|
Earnings (losses) per
share - ADS basic (US$)
|
(0.1848)
|
0.6091
|
1.0634
|
0.3787
|
0.9032
|
Net Cash
(debt)
|
(652.7)
|
7.2
|
(574.7)
|
7.2
|
(574.7)
|
For additional information, please check the full document in
our website: http://ri.embraer.com.br
INVESTOR RELATIONS
Eduardo Couto, Chris Thornsberry, Caio Pinez, Nádia Santos,
Paulo Ferreira and Viviane Pinheiro.
(+55 12) 3927-1000
investor.relations@embraer.com.br
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 4Q16 Results
on Thursday, March 9, 2017 at
12:30PM (SP) / 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
Your own International Toll-Free number for Brazil: 0800 047 4803 (land line) and 0800 047
4801 (cell phone)
Code: 60338271
Contacts:
Headquarters (Brazil)
Saulo Passos
press@embraer.com.br
Cell: +55 11 94254 4017
Tel.: +55 11 3040 1799
North America
Alyssa Ten Eyck
aeyck@embraer.com
Cell: +1 954 383 0460
Tel.: +1 954 359 3847
Europe, Middle East and Africa
Guy Douglas
guy.douglas@nl.embraer.com
Cel.: +31 (0)657120121
Tel.: +31 (0)202158109
China
Mirage Zhong
mirage.zhong@bjs.embraer.com
Cell: +86 185 1378 5180
Tel.: +86 10 6598 9988
Asia Pacific
Nilma Missir-Boissac
nilma.boissac@sin.embraer.com
Cell: +65 9012 8428
Tel.: +65 6305 9955
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/embraer-releases-fourth-quarter-and-fiscal-year-2016-results-and-2017-outlook-300420855.html
SOURCE EMBRAER S.A.