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EMBRAER Releases Third Quarter 2017 Results and 2018 Outlook

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.