2005 - 1 Q05 Results Presentation

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2005 - 1 Q05 Results Presentation

  1. 1. 1st Quarter 2005 Financial Results May 17, 2005
  2. 2. 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
  3. 3. 1Q05 Highlights THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  4. 4. Highlights Republic Airways Holdings added 16 firm and 34 option EMBRAER 170s to its order book. Of the 16 new firm aircraft, two were already accounted for in Embraer’s fourth-quarter 2004 order book. Harbin Embraer announced on March 24, 2005 the sale of five ERJ 145s to China Eastern Airlines Jiangsu Ltd. Embraer delivered its 900th jet of the ERJ 145 family to European customer Luxair. THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  5. 5. Highlights Embraer signed in February a Memorandum Of Understanding with the Indian Defense, Research and Development Organisation to support the Indian Air Force new Airborne Early Warning & Control system development The consortium formed by Embraer and the European Aeronautic Defense and Space Company (EADS) received approval to acquire 65% of OGMA - Indústria Aeronáutica de Portugal S.A., one of the largest maintenance, repair and overhaul facilities in Europe THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  6. 6. Results & Performance THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  7. 7. Jet Deliveries 43 42 40 30 23 1Q04 2Q04 3Q04 4Q04 1Q05 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  8. 8. Net Revenues and Gross Margin US$ million 37.6% 33.2% 35.1% 32.6% 32.3% 924 937 954 763 626 1Q04 2Q04 3Q04 4Q04 1Q05 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  9. 9. Net Revenue by Segment and Market 1Q04 1Q05 Customer Customer Sevices and Services & Others 8% Others 10% Business Jet Market4% Defense Defense 21% 10% Commercial Airline Market 71% Commercial Airline Market 76% THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  10. 10. Income from Operations US$ Million 24.4% 16.3% 13.6% 14.9% 13.3% 153 142 123 127 125 1Q04 2Q04 3Q04 4Q04 1Q05 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  11. 11. Net Income US$ Million 16.5% 12.1% 12.6% 8.7% 8.7% 114 103 97 80 83 1Q04 2Q04 3Q04 4Q04 1T05 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  12. 12. Accounts Receivable Breakdown US$ Million 607 514 529 271 315 194 189 250 157 157 1Q04 2Q04 3Q04 4Q04 1T05 Others Commercial Airline Market THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  13. 13. Inventories US$ Million 1,570 1,390 1,428 1,273 1,247 1Q04 2Q04 3Q04 4Q04 1Q05 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  14. 14. Indebtedness Total Debt of US$ 1,037.7 Million Brazilian Currency Short Term 2% Long Term 22% 78% Foreign Currency 98% • Average cost in R$ = 14.8 %p/a • Average cost in US$ = 5.3% p/a Long-Term Loan Average Maturity: 3 years and 3 months THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  15. 15. Indebtedness Maturity US$ million 1,037 232 101 312 191 156 45 Total Short Term 2006 2007 2008 2009 Beyond 2010 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  16. 16. Net Cash (Debt) Position US$ Million 304 220 178 22 -166 1Q04 2Q04 3Q04 4Q04 1Q05 THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  17. 17. Backlog and Delivery Forecast THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  18. 18. ERJ 145 Family Orderbook Firm Firms Options Total Deliveries Backlog ERJ 135 123 2 125 108 15 ERJ 140 94 20 114 74 20 ERJ 145 681 211 892 634 47 Total 898 233 1,131 816 82 (as of 1st quarter, 2005) THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  19. 19. EMBRAER 170/190 Family Orderbook Firm Firms Options Total Deliveries Backlog EMBRAER 170 172 137 309 56 116 EMBRAER 175 15 - 15 - 15 EMBRAER 190 155 230 385 - 155 EMBRAER 195 15 20 35 - 15 Total 357 387 744 56 301 (as of 1st quarter, 2005) THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  20. 20. Backlog US$ Billion 17.7 17.8 18.5 17.5 15.0 10.9 10.5 11.0 10.1 9.9 1Q04 2Q04 3Q04 4Q04 1Q05 Firm Options THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  21. 21. Jet Deliveries Forecast 160 161 148 145 145 131 96 101 59 32 4 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005E 2006E THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
  22. 22. Investor Relations Phone: + 5512 3927-1216 investor.relations@embraer.com.br www.embraer.com.br

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