Embraer Releases Second Quarter 2015 Results

Jul 30, 2015, 06:24 ET from Embraer S.A.

SAO JOSE DOS CAMPOS, Brazil, July 30, 2015 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) releases second quarter 2015 results.

HIGHLIGHTS

  • In 2Q15, Embraer delivered 27 commercial and 33 executive (26 light and 7 large) jets. Deliveries in the first half of 2015 were 47 commercial jets and 45 executive (36 light and 9 large) jets;
  • During 2Q15, the Company announced 102 firm orders for the current and second generation of the E-Jets commercial jets, reaching a total of 124 firm orders year-to-date;
  • The Company's firm order backlog ended 2Q15 at US$ 22.9 billion, the highest in Embraer's history. This compares to US$ 20.4 billion in backlog at the end of 1Q15 and $20.9 billion at the end of 2014;
  • As a result of aircraft deliveries, coupled with revenues from the Company's Defense & Security business, 2Q15 revenues were US$ 1,513.2 million;
  • EBIT and EBITDA margins were 6.8% and 11.7%, respectively, in 2Q15;
  • 2Q15 Net income attributable to Embraer Shareholders and Earnings per basic ADS totaled US$ 129.3 million and US$ 0.7096, respectively;
  • Embraer generated US$ 72.7 million in Free Cash Flow during 2Q15;
  • The Company issued US$ 1.0 billion in debt with a coupon rate of 5.05% maturing in 2025, with proceeds of US$ 996.8 million, for use in repayment of existing debt and general corporate purposes;
  • Embraer reiterates its EBIT and EBITDA guidance for 2015 at US$ 490US$ 560 million and US$ 730US$ 850 million, respectively. However, in order to reflect the recent devaluation of the Brazilian real versus the U.S. dollar, the Company now expects 2015 consolidated revenues to range from US$ 5.8US$ 6.3 billion (US$ 6.1 to US$ 6.6 billion previously). EBIT margin should reach 8.5% to 9.0% in 2015 (8.0% to 8.5% previously) and 2015 EBITDA margin should range from 12.6% to 13.6% (12.0% to 13.0% previously). All other aspects of the Company's financial and delivery guidance are unchanged.

Main financial indicators

     in millions of U.S dollars, except % and earnings per share data

IFRS

(1)

(1)

(1)

(1)

1Q15

2Q14

2Q15

YTD15

Revenue

1,055.9

1,761.3

1,513.2

2,569.1

EBIT

79.6

186.8

102.2

181.8

EBIT Margin %

7.5%

10.6%

6.8%

7.1%

EBITDA

149.1

261.4

177.6

326.8

EBITDA Margin %

14.1%

14.8%

11.7%

12.7%

Adjusted Net Income

48.3

128.8

122.5

170.8

Net income (loss) attributable to Embraer Shareholders

(61.7)

143.4

129.3

67.6

Earnings (loss) per share - ADS basic (US$)

(0.3370)

0.7829

0.7096

0.3708

Net Cash (Debt)

(581.3)

(114.3)

(510.7)

(510.7)

(1) Derived from unaudited financial information.

For additional information, please check the full document in our website: http://ri.embraer.com.br

Investor Relations Eduardo Couto, Caio Pinez, Christopher Thornsberry, Claudio Massuda, Nadia Santos and Paulo Ferreira (+55 12) 3927-4404 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 2Q15 Results on Thursday, July 30, 2015 at 10:30am (SP) and 9:30am (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: 61529516

SOURCE Embraer S.A.



RELATED LINKS

http://ri.embraer.com.br