3T06 US GAAP
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3T06 US GAAP 3T06 US GAAP Presentation Transcript

  • Third Quarter 2006 Financial Results November 14, 2006
  • Forward Looking Statement •This presentation includes forward-looking statements or statements about events or circumstances which have not occurred. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting our business and our future financial performance. These forward-looking statements are subject to risks, uncertainties and assumptions, including, among other things: general economic, political and business conditions, both in Brazil and in our market. The words “believes,” “may,” “will,” “estimates,” “continues,” “anticipates,” “intends,” “expects” and similar words are intended to identify forward-looking statements. We undertake no obligations to update publicly or revise any forward-looking statements because of new information, future events or other factors. In light of these risks and uncertainties, the forward- looking events and circumstances discussed in this presentation might not occur. Our actual results could differ substantially from those anticipated in our forward-looking statements. THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Highlights 3Q06 • The Commercial Aviation Segment totaled 137 new firm orders, including 50 ERJ145 and 50 EMBRAER 190 jets to HNA Group from China, 30 EMBRAER 175 jets to Republic Airways, six EMBRAER 170 to Egypt Air and one EMBRAER 170 to an undisclosed costumer. • The Executive Aviation segment reported more than 300 firm orders for the Phenom 100 and the Phenom 300 jets. • Embraer’s Board of Directors appointed Frederico Fleury Curado to succeed Maurício Botelho as President and CEO of the Company, to be elected in April 2007. • The European Aviation Safety Agency (EASA) issued the type certificate for the EMBRAER 190 and the EMBRAER 195 jets during this quarter. • Mandarin Airlines chose the EMBRAER 190 and the EMBRAER 195 jets as the core aircraft for their future fleet. These orders will come from the existing GECAS backlog. THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Highlights 3Q06 • Embraer and BNP Paribas concluded in August a US$500 million syndicated standby facility, comprised of a US$250 million Trade Finance Credit Facility, and a US$250 million Revolving Credit Facility available for multiple draw-downs. • The U.S. Federal Aviation Administration (FAA) issued type certificate for the EMBRAER 175, paving the way for deliveries to begin in the United States. THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Results & Performance THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Jet Deliveries 41 40 36 30 27 3Q05 4Q05 1Q06 2Q06 3Q06 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Net Revenues and Gross Margin US$ Million 28.1% 28.7% 28.2% 28.3% 28.2% 1,190 1,064 1,021 808 894 3Q05 4Q05 1Q06 2Q06 3Q06 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Net Revenue by Segment 9M06 9M05 Revenues: US$ 2,723 million Revenues:US$ 2,640 million Customer Customer Services and Services and Others 15% ExecutiveOthers 10% Commercial Aviation 6% Executive Aviation 67% Defense and Aviation 13% Government 12% Defense and Government 6% Commercial Aviation 72% THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Income from Operations US$ Million 15.7% 13.2% 9.6% 167 135 5.2% 114 4.5% 37 46 3Q05 4Q05 1Q06 2Q06 3Q06 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Net Income US$ Million 13.6% 13.1% 10.4% 156 8.1% 139 6.9% 110 65 61 3Q05 4Q05 1Q06 2Q06 3Q06 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Accounts Receivable Breakdown Aircraft Sales Financing Support US$ Million 32 US$MM 164 US$MM 488 Accounts Receivables Costumer Commercial Finance 100 136 140 32 302 351 346 332 366 3Q05 4Q05 1Q06 2Q06 3Q06 Others Commercial Aviation THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Inventories US$ Million 1,882 1,601 1,648 1,639 1,478 3Q05 4Q05 1Q06 2Q06 3Q06 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Net Cash (Debt) Position US$ Million 527 507 360 302 97 3Q05 4Q05 1Q06 2Q06 3Q06 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Loans Total Debt of US$ 1,599.8 Million Brazilian Currency 25% Short Term Long Term 48% 52% Foreign Currency 75% • Average cost in R$ =9.2 % p/a Loans Average Maturity: 1 year and • Average cost in US$ =7.4 % p/a 11 months THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Loans Maturity US$ million 76 0 1,6 0 0 13 1 2 76 18 8 201 44 Total Short- 2007 2008 2009 2010 2011 term THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Backlog and Delivery Forecast THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • ERJ 145 Family Order Book Firm Firm Orders Options Total Deliveries Backlog ERJ 135 108 1 109 108 - ERJ 140 74 - 74 74 - ERJ 145 732 132 864 677 55 Total 914 133 1,047 859 55 (3rd Quarter 2006) THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • EMBRAER 170/190 Family Order Book Firm Firm Orders Options Total Deliveries Backlog EMBRAER 170 152 133 285 120 32 EMBRAER 175 52 - 52 22 30 EMBRAER 190 298 248 546 41 257 EMBRAER 195 41 40 81 1 40 Total 543 421 964 184 359 (3rd Quarter 2006) THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Backlog US$ Billion 14.9 15.0 13.6 15.3 15.9 13.3 10.4 10.4 10.4 10.2 3Q05 4Q05 1Q06 2Q06 3Q06 Firm Options THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Jet Deliveries Forecast 160 161 160 148 141 131 135 96 101 59 1998 1999 2000 2001 2002 2003 2004 2005 2006E 2007E THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  • Investor Relations Phone: + 5512 3927-4404 investor.relations@embraer.com.br www.embraer.com.br