Embraer 1Q11 Results
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Embraer 1Q11 Results

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Conference Call 1Q11

Conference Call 1Q11

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Embraer 1Q11 Results Embraer 1Q11 Results Presentation Transcript

  • FIRST QUARTER 2011 RESULTS May 3rd, 2011
  • Forward Looking StatementThis presentation includes forward-looking statements or statements about events orcircumstances which have not occurred. We have based these forward-looking statementslargely on our current expectations and projections about future events and financial trendsaffecting our business and our future financial performance. These forward-lookingstatements are subject to risks, uncertainties and assumptions, including, among other things:general economic, political and business conditions, both in Brazil and in our market. Thewords “believes,” “may,” “will,” “estimates,” “continues,” “anticipates,” “intends,” “expects” andsimilar words are intended to identify forward-looking statements. We undertake noobligations to update publicly or revise any forward-looking statements because of newinformation, future events or other factors. In light of these risks and uncertainties, theforward-looking events and circumstances discussed in this presentation might not occur. Ouractual results could differ substantially from those anticipated in our forward-lookingstatements.
  • Recent Highlights • Agreement for the delivery of 20 E-Jets to Alitalia. • Sale of four EMBRAER 190 jets to Trip Linhas Aéreas.• Arrangement with Dniproavia to deliver ten EMBRAER 190, plus five options.• CDB Leasing contract for twenty EMBRAER 190 Jets.• Chinese Hebei Airlines order for ten EMBRAER 190 and purchase rights for additional five units. • KLM Cityhopper converts options for five E-Jets.
  • Recent Highlights• Legacy 650 receives FAA certification.• Phenom 300 wins Flying Magazine Editors’ Choice Award. • Agreement with AVIC for industrial cooperation to assembly Legacy 600/650 in China. • Embraer expands its customer support network in China, Middle East, India, Africa, Australia and USA (Provo, UT and Windsor Locks, CT). • Embraer inaugurates its first U.S. final assembly plant in Melbourne, FL.
  • Recent Highlights• Contract with Brazilian Air Force – FAB to overhaul 43 AMX jet fighters. • Contract to modernize 11 additional F-5 jet fighters for FAB.• Embraer Defense and Security acquires 65% of OrbiSat’s radar division.• Agreement with AEL Sistemas focusing the UAV market.• Acquisition of 50% of Atech.
  • Revenue by Segment Revenue 1.00 1.35 1.04 1.97 1.05 US$ Billion 11% 8% 14% 14% 17% 10% 12% 13% 7% 19% 12% 22% 58% 14% 19% 10% 12% 32% 10% 62% 60% 61% 55% 48% 1Q10 2Q10 3Q10 4Q10 1Q11 Commercial aviation Executive aviation Defense and security Aviation services and others
  • Aircraft Deliveries 2011 deliveries estimates • 102 commercial jets • 18 executive large jets* • 100 executive light jets** 48 39 29 30 21 20 22 20 17 13 3 1 2 2 6 1Q10 2Q10 3Q10 4Q10 1Q11 Commercial Jets Executive Large Jets* Executive Light Jets** * Legacy e Lineage** Phenom
  • Firm Order BacklogUS$ Billion 3.8 3.0 3.2 3.0 2.8 2.9 18.8 20.9 14.8 16.6 15.6 16.0 2006 2007 2008 2009 2010 1Q2011 Firm Order Backlog Backlog/Revenue (Years)
  • Revenues and Gross Margin IFRS - US$ Million IFRS - R$ Million 24.3% 20.8% 24.3%20.8% 20.2% 20.5% 20.2% 20.6% 16.8% 16.8% 1,970 3,342 2,435 1,358992 1,044 1,056 1,783 1,820 1,7571Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11 Revenues Gross Margin 2011 Outlook: Revenue - US$ 5.60 billion
  • SG&A Expenses IFRS - US$ Million IFRS - R$ Million 167 282 151 256 247 252 143 142 61 218 103121 88 49 57 92 95 53 63 35 106 168 179 86 94 89 94 155 155 1571Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11 G&A Expenses Selling Expenses
  • Income from Operations IFRS - US$ Million IFRS - R$ Million 9.0% 6.7% 8.9% 9.0% 6.7% 8.9% 7.2% 6.4% 7.1% 6.4% 132 219 225 122 94 15771 127 116 661Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11 EBIT EBIT Margin 2011 Outlook: EBIT - US$ 420 million / EBIT Margin - 7.5%
  • EBITDA IFRS - US$ Million IFRS - R$ Million 12.5% 14.8% 14.8%11.8% 12.2% 11.8% 12.2% 12.5% 10.0% 10.0% 197 335 166 298 156 260 131 210 2271171Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11 EBITDA EBITDA Margin 2011 Outlook: EBITDA - US$ 610 million / EBITDA Margin - 11%
  • Net Income IFRS - US$ Million IFRS - R$ Million 9.9% 12.1% 9.9% 12.1% 6.2% 6.2% 4.2% 4.2%2.4% 2.5% 220 208 126 123 174 105 57 10224 441Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11 Net Income Net Margin
  • Inventories / Free Cash Flow Inventories Free Cash Flow 220 193 2,7082,482 2,561 2,371 2,198 (60) (66) (126)1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11
  • Indebtedness Profile / Net Cash Indebtedness Maturity Net Cash 6% 5% 10%26% 22% 6.1 6.3 5.8 5.75.0 94% 95% 90% 692 652 618 78% 50574% 4441Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11 Long-term Short-term Loans Average Maturity (Years) Total Debt 1Q11: US$ 1.51 Billion Total Cash 1Q11: US$ 2.02 Billion