SAO PAULO, March 8, 2018 /PRNewswire/ -- EMBRAER S.A.
(NYSE: ERJ; B3: EMBR3) releases its fourth quarter and fiscal year
2017 results and 2018 outlook.
HIGHLIGHTS
- Embraer delivered 23 commercial jets and 50 executive jets (32
light / 18 large) in 4Q17, and in 2017 delivered 101 commercial
jets and 109 executive (72 light / 37 large) jets, meeting Guidance
for 2017;
- Revenues in 4Q17 reached US$ 1,733.0
million and in 2017 were US$ 5,839.3
million, within the Company's Guidance range of US$ 5.7 to US$ 6.1
billion;
- Adjusted EBIT and adjusted EBITDA excluding special items were
US$ 132.7 million and US$ 220.3 million, respectively, in 4Q17,
yielding margins of 7.7% and 12.7%. Adjusted EBIT and adjusted
EBITDA exclude US$ 66.0 million in
net non-recurring charges in 4Q17, mostly related to impairments in
the Executive Jets and Defense & Security segments;
- For the full year, adjusted EBIT and adjusted EBITDA were
US$ 397.1 million and US$ 712.5 million, respectively, excluding
US$ 67.8 million in net non-recurring
charges. For 2017, adjusted EBIT margin was 6.8% and adjusted
EBITDA margin was 12.2%, which were below the Company's
guidance;
- Embraer closed 2017 with adjusted free cash flow generation of
US$ 406.7 million in 4Q17, resulting
in positive 2017 free cash flow of US$ 404.8
million, significantly above the Company's initial
expectations for the year of free cash flow consumption of
US$(150) million or better. Embraer
finished 2017 with net debt of US$ 310.8
million, an improved position versus net debt of
US$ 574.7 million at the end of
2016;
- 4Q17 Net income attributable to Embraer shareholders and
Earnings per ADS were US$ 35.2
million and US$ 0.19,
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$
58.3 million, representing adjusted earnings per ADS of
US$ 0.32 in 4Q17. Adjusted net income
for 2017 was US$ 279.7 million,
representing adjusted earnings per ADS of US$ 1.52 for the year;
- The Company reaffirms its 2018 guidance first published in the
3Q17 earnings release on October 27,
2017.
MAIN FINANCIAL INDICATORS
|
in millions of U.S
dollars, except % and earnings per share data
|
|
3Q17
|
4Q16
|
4Q17
|
2016
|
2017
|
|
Revenue
|
1,310.4
|
2,027.8
|
1,733.0
|
6,217.5
|
5,839.3
|
|
EBIT
|
65.2
|
276.6
|
66.7
|
206.0
|
329.3
|
|
EBIT Margin
%
|
5.0%
|
13.6%
|
3.8%
|
3.3%
|
5.6%
|
|
Adjusted
EBIT
|
68.8
|
246.1
|
132.7
|
499.1
|
397.1
|
|
Adjusted EBIT Margin
%
|
5.3%
|
12.1%
|
7.7%
|
8.0%
|
6.8%
|
|
EBITDA
|
139.8
|
378.5
|
154.3
|
536.1
|
644.7
|
|
EBITDA Margin
%
|
10.7%
|
18.7%
|
8.9%
|
8.6%
|
11.0%
|
|
Adjusted
EBITDA
|
143.4
|
348.0
|
220.3
|
829.2
|
712.5
|
|
Adjusted EBITDA
Margin %
|
10.9%
|
17.2%
|
12.7%
|
13.3%
|
12.2%
|
|
Adjusted Net
Income
|
75.2
|
209.1
|
58.3
|
290.5
|
279.7
|
|
Adjusted earnings per
share - ADS basic
|
0.4089
|
1.1370
|
0.3177
|
1.5799
|
1.5237
|
|
Net income
attributable to Embraer Shareholders
|
110.0
|
195.2
|
35.2
|
166.1
|
246.8
|
|
Earnings per share -
ADS basic (US$)
|
0.5982
|
1.0634
|
0.1918
|
0.9032
|
1.3445
|
|
Adjusted Free Cash
Flow
|
(22.7)
|
285.0
|
406.7
|
(359.2)
|
404.8
|
|
Net debt
|
(722.8)
|
(574.7)
|
(310.8)
|
(574.7)
|
(310.8)
|
For additional information, please check the full document in
our website 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
ri.embraer.com.br
Alyssa Ten Eyck
ayeck@embraer.com
Cell: +1 954 383 0460
Tel.: +1 954 359 3847
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 4Q17 Results on
Thursday, March 8, 2017 at
12:30 PM (SP) / 10:30 AM (NY). The conference call will also
be broadcast live over the web at ri.embraer.com.br
Code: 7597888
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)
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SOURCE Embraer S.A.