SÃO PAULO, Oct. 27, 2017
/PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; BM&FBOVESPA:
EMBR3) releases its third quarter 2017 results and 2018
outlook.
HIGHLIGHTS
- During 3Q17, Embraer delivered 25 commercial jets and 20
executive jets (13 light and 7 large);
- The Company's firm order backlog at the end of 3Q17 was
US$ 18.8 billion, representing an
increase from the US$ 18.5 billion
reported at the end of 2Q17;
- Consolidated revenues in 3Q17 were US$
1,310.4 million, representing a decline of 13.5% compared to
3Q16 due to lower deliveries in the Commercial Aviation and
Executive Jets segments;
- Adjusted EBIT and Adjusted EBITDA margins were 5.3% and 10.9%,
respectively, in 3Q17. Adjusted EBIT and Adjusted EBITDA exclude
US$ 3.6 million in net non-recurring
charges in 3Q17;
- 3Q17 Net income attributable to Embraer shareholders and
Earnings per ADS were US$ 110.0
million and US$ 0.60,
respectively. Adjusted Net income (excluding the impact of
FX-related non-cash deferred income tax and social contribution and
non-recurring items) for the quarter was US$
75.2 million, representing Adjusted Earnings per ADS of
US$ 0.41;
- The Company reiterates all formal aspects of its financial and
deliveries Guidance for 2017;
- Embraer expects 2018 to be a transition year due to the entry
into service of the first E2 model, the E190-E2, combined with a
still flattish market for Executive Jets and Defense &
Security. In this transition scenario of ramp-up costs for the
initial E2 deliveries, the Company releases 2018 Outlook for total
revenues of US$ 5.3 to US$ 6.0
billion, with deliveries of 85 to 95 jets in Commercial
Aviation and 105 to 125 jets in Executive Jets. Consolidated EBIT
margin is expected to be within a range of 5.0% to 6.0%, and
Guidance for Free Cash Flow is for a usage of US$ (150) million or better for 2018.
MAIN FINANCIAL
INDICATORS (IFRS)
|
|
in millions of U.S
dollars, except % and earnings per share data
|
|
2Q17
|
3Q16
|
3Q17
|
YTD17
|
Revenue
|
1,769.6
|
1,514.3
|
1,310.4
|
4,106.3
|
EBIT
|
174.0
|
(28.9)
|
65.2
|
262.6
|
EBIT Margin
%
|
9.8%
|
-1.9%
|
5.0%
|
6.4%
|
Adjusted
EBIT
|
164.6
|
94.7
|
68.8
|
264.4
|
Adjusted EBIT Margin
%
|
9.3%
|
6.3%
|
5.3%
|
6.4%
|
EBITDA
|
254.8
|
54.3
|
139.8
|
490.4
|
EBITDA Margin
%
|
14.4%
|
3.6%
|
10.7%
|
11.9%
|
Adjusted
EBTIDA
|
245.4
|
177.9
|
143.4
|
492.2
|
Adjusted EBTIDA
Margin %
|
13.9%
|
11.7%
|
10.9%
|
12.0%
|
Adjusted Net
Income
|
123.0
|
38.9
|
75.2
|
221.4
|
Adjusted earnings per
share - ADS basic
|
0.6688
|
0.2135
|
0.4089
|
1.2039
|
Net income (loss)
attributable to Embraer Shareholders
|
59.1
|
(33.7)
|
110.0
|
211.6
|
Earnings (losses) per
share - ADS basic (US$)
|
0.3214
|
(0.1848)
|
0.5982
|
1.1507
|
Net debt
|
(661.5)
|
(652.7)
|
(722.8)
|
(722.8)
|
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 3Q17 Results on Friday, October 27, 2017 at 3:00PM (SP) / 1:00PM (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: 35609838
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SOURCE EMBRAER S.A.