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Embraer Webcast 1Q12 Presentation

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  • 1. FIRST QUARTER 2012 RESULTS April 27, 2012
  • 2. 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. This information is the property of Embraer and cannot be used or reproduced without written consent. 2
  • 3. Highlights• Delivery of 21 and sale of 12 E-Jets in 1Q12 (ten E195s to Azul, one E190 to BA CityFlyer, and one E170 to JAL).• E-Jets orders rose to 1,063, with 60 companies in 42 countries. • E-Jets customer base expansion with two new operators: Bulgaria Air and Estonian Air.This information is the property of Embraer and cannot be used or reproduced without written consent. 3
  • 4. Highlights • Delivery of 13 executive jets in 1Q12 (12 light jets and one large jet). • Legacy 500 first engine run and ground tests start.• Delivery of the 300th Phenom and 100th executive jet in Brazil.• Sale of three ultra-large Lineage 1000 jets to Minsheng of China.• Continuous expansion of global support network in strategic places to better serve our clients.This information is the property of Embraer and cannot be used or reproduced without written consent. 4
  • 5. Highlights • Defense and security revenues went up to 20% of total revenues. • AEW India program: second aircraft performed its maiden flight. • Three African nations were disclosed as Super Tucano customers: Burkina Faso, Angola and Mauritania. Total contract: US$ 180 million.• Embraer Defense and Security increased to 65% its stake in OGMA.This information is the property of Embraer and cannot be used or reproduced without written consent. 5
  • 6. Aircraft Deliveries Commercial Jets Executive Jets 32 40 28 25 20 21 20 17 10 12 6 2 3 1 11Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12 Light Jets - Phenom 2012 deliveries estimates • 105 - 110 commercial jets Large Jets - Legacy & Lineage • 15 - 20 executive large jets • 75 - 85 executive light jetsThis information is the property of Embraer and cannot be used or reproduced without written consent. 6
  • 7. Firm Backlog US$ Billion 20.9 18.8 16.6 15.6 15.4 14.8 14.7 2006 2007 2008 2009 2010 2011 1Q2012This information is the property of Embraer and cannot be used or reproduced without written consent. 7
  • 8. Revenues by Segment Net Revenues US$ Billion 1.06 1.36 1.36 2.03 1.16 Commercial aviation Executive aviation Defense and security OthersThis information is the property of Embraer and cannot be used or reproduced without written consent. 8
  • 9. Net Revenues and Gross Margin IFRS - US$ Million IFRS - R$ Million 24.3% 23.2% 24.3% 23.2% 22.4% 22.5% 22.5% 21.2% 22.4% 21.2% 2,025 3,667 1,359 1,364 2,169 2,2661,056 1,156 2,049 1,757 1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12 Net Revenues Gross Margin 2012 Outlook: Net Revenues US$ 5.8 – 6.2 billionThis information is the property of Embraer and cannot be used or reproduced without written consent. 9
  • 10. SG&A Expenses IFRS - US$ Million IFRS - R$ Million 334 186 180 318 173 172 277 280151 252 129 72 126 64 71 69 103 113 57 95 109 114 109 205 192 94 103 174 167 157 1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12 G&A Expenses Selling ExpensesThis information is the property of Embraer and cannot be used or reproduced without written consent. 10
  • 11. Income from Operations IFRS - US$ Million IFRS - R$ Million 9.1% 8.9% 9.4% 8.9% 7.8% 7.8% 7.5% 7.4% -0.3% -0.4% 124 212 106 169 94 86 157 153 (6) (15) 1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12 EBIT EBIT Margin 2012 Outlook: EBIT Margin 8.0% – 8.5%This information is the property of Embraer and cannot be used or reproduced without written consent. 11
  • 12. EBITDA IFRS - US$ Million IFRS - R$ Million 12.8% 14.8% 12.9% 14.8% 13.8% 13.7% 11.3% 11.5% 2.9% 2.8% 188 311 156 153 148 260 250 264 59 101 1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12 EBITDA EBITDA Margin 2012 Outlook: EBITDA Margin 11.5% – 12.5%This information is the property of Embraer and cannot be used or reproduced without written consent. 12
  • 13. Net Income IFRS - US$ Million IFRS - R$ Million10.0% 9.9% 7.1% 7.1% 5.4% 5.4% 105 174 154 96 0.1% 0.0% 111 63 0 2 -4.7% -4.5% -92 (172) 1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12 Net Income Net MarginThis information is the property of Embraer and cannot be used or reproduced without written consent. 13
  • 14. Inventories / Free Cash Flow Inventories - US$ Million Free Cash Flow - US$ Million 277 2,872 2,697 2,6522,561 2,288 (38) (126) (112) (174)1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12This information is the property of Embraer and cannot be used or reproduced without written consent. 14
  • 15. Indebtedness Profile Net Cash Indebtedness Maturity Net Cash - US$ Million 10% 13% 15% 26% 27% 5.0 4.8 5.7 4.5 4.2 85% 505 87% 74% 74% 446 90% 406 302 193 1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12 Long-term Short-term Loans Average Maturity (Years) Total Debt 1Q12 US$ 2.0 Billion Total Cash 1Q12 US$ 2.3 BillionThis information is the property of Embraer and cannot be used or reproduced without written consent. 15
  • 16. Investor Relations Phone: +55 12 3927 4404 investor.relations@embraer.com.br www.embraer.comThis information is the property of Embraer and cannot be used or reproduced without written consent.