Embraer Releases Second Quarter 2016 Results

29/07/2016 04:00

Source: PR News

SÃO PAULO, July 29, 2016 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) releases its second quarter 2016 results.

HIGHLIGHTS

  • In 2Q16, Embraer delivered 26 commercial and 26 executive (23 light and 3 large) jets;
  • The Company's firm order backlog ended the quarter at US$ 21.9 billion, compared to US$ 22.9 billion at the end of 2Q15 and $21.9 billion in backlog at the end of 1Q16;
  • Revenues in 2Q16 were US$ 1,366.4 million, representing a decline of 9.7% from the same period last year, principally due to lower deliveries in the Executive Jets segment;
  • Consolidated gross margin in 2Q16 reached 20.8%, up from the 18.9% registered in 2Q15;
  • In 2Q16, the Company booked a US$ 200 million loss contingency in Other operating income (expense), net related to the allegations of non-compliance with the U.S. Foreign Corrupt Practices Act (FCPA);
  • Adjusted EBIT and Adjusted EBIT margin in 2Q16, excluding the impact of the loss contingency, was US$ 72.6 million and 5.3%, respectively. Adjusted EBITDA and Adjusted EBITDA margin in the quarter, excluding this impact, was US$ 152.3 million and 11.1%, respectively;
  • 2Q16 Net income (loss) attributable to Embraer Shareholders and Earnings per basic ADS totaled US$ (99.4) million and US$ (0.5448), respectively;
  • 2Q16 Adjusted Net Income, which excludes non-cash deferred income taxes and social contribution largely related to foreign exchange variation on non-monetary assets, as well as the aforementioned loss contingency, was US$ 44.1 million. Adjusted earnings per basic ADS totaled US$ 0.2417 in 2Q16;
  • Embraer is revising its 2016 guidance to incorporate lower estimates for the Executive Jets segment. Please see pages 2 and 3 of this release for additional details.

 

Main financial indicators

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

IFRS

(1)

(1)

(1)

(1)

1Q16

2Q15

2Q16

YTD16

Revenue

1,309.0

1,513.2

1,366.4

2,675.4

EBIT

85.7

102.2

(127.4)

(41.7)

EBIT Margin %

6.5%

6.8%

-9.3%

-1.6%

Adjusted EBIT

85.7

102.2

72.6

158.3

Adjusted EBIT Margin

6.5%

6.8%

5.3%

5.9%

EBITDA

167.6

177.6

(47.7)

119.9

EBITDA Margin %

12.8%

11.7%

-3.5%

4.5%

Adjusted EBTIDA

167.6

177.6

152.3

319.9

Adjusted EBTIDA Margin

12.8%

11.7%

11.1%

12.0%

Adjusted Net Income (loss)

(1.7)

122.5

44.1

42.4

Net income (loss) attributable to Embraer Shareholders

103.9

129.3

(99.4)

4.5

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

0.5690

0.7096

(0.5448)

0.0247

Net Cash (Debt)

(219.9)

(464.5)

(613.3)

(613.3)

 

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

 

CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 2Q16 Results on Friday, July 29, 2016 at 10:30AM (SP) / 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: 38288857

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
pressEMEA@embraer.fr 
Cell: +55 11 94254 4017
Tel.: +55 11 3040 1799

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  

SOURCE EMBRAER S.A.



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