Conference Call 1Q14

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Conference Call 1Q14

  1. 1. Cargo do Apresentador EARNINGS RESULTS 1st QUARTER 2014 April 30, 2014
  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.
  3. 3. Delivery of 14 E-Jets in 1Q14. 3 The E-Jets family celebrated its 10th anniversary of the first delivery. Air Costa (India) placed an order for 50 E-Jets E2 plus 50 options of the E190-E2 and E195-E2 models. Embraer’s Commercial jet segment from 70 to 130 seats, reached in 1Q14 more than 50% of the sales and 60% of the deliveries, worldwide. Embraer started delivering in April to its customers the E175 jet featuring aerodynamic improvements that reduce the aircraft’s fuel burn by 6.4%. Highlights
  4. 4. Delivery of 20 executive jets in 1Q14 (17 light jets and 3 large jets). Delivery of the 300th Phenom 100, just five years after its EIS. 4 Embraer Executive Jets fleet, which currently consists of more than 740 aircraft, reached the milestone of one million flight hours. Embraer Executive Jets inaugurated a new Service Center in the city of Sorocaba, Brazil. Highlights
  5. 5. Savis concluded the delivery of the Military Operations Center of the Western Military Command, Sisfron’s first Command and Control Center. 5 Highlights Embraer Defense & Security commenced assembly of the first Super Tucano aircraft for the USAF LAS Program. First delivery expected for mid-2014. Embraer Defense & Security received the first seven FAB F-5 fighter jets under the modernization program for a total of 11 jets. Atech's SAGITARIO system began operation in the Amazon Area Control Center. All air traffic control en route to Brazil is now managed through SAGITARIO.
  6. 6. 13.3 17.1 17.8 18.2 19.2 1Q13 2Q13 3Q13 4Q13 1Q14 Firm Order Backlog 6 US$ Billion
  7. 7. 4 4 23 38 17 3 15 6 21 8 1Q13 2Q13 3Q13 4Q13 1Q14 17 22 19 32 14 1Q13 2Q13 3Q13 4Q13 1Q14 Aircraft Deliveries Large Jets - Legacy & Lineage Light Jets - Phenom Commercial Jets Executive Jets 7 2014 deliveries estimates • 92 - 97 E-Jets • 25 - 30 executive large jets • 80 - 90 executive light jets
  8. 8. 1,2421,086 1,557 1,288 2,304 1Q13 2Q13 3Q13 4Q13 1Q14 394 252 309 267 369 1Q13 2Q13 3Q13 4Q13 1Q14 267175 370 315 785 1Q13 2Q13 3Q13 4Q13 1Q14 555640 860 687 1,120 1Q13 2Q13 3Q13 4Q13 1Q14 Net Revenues by Segment – 2014 Outlook 8 Commercial Aviation: US$ 3.2 – 3.4 Billion Executive Aviation: US$ 1.5 – 1.7 Billion Defense & Security: US$ 1.2 – 1.3 Billion EMBRAER: US$ 6.0 – 6.5 Billion
  9. 9. 2,157 3,240 2,944 5,296 2,929 1Q13 2Q13 3Q13 4Q13 1Q14 9 Net Revenues US$ Million R$ Million 2014 Outlook: US$ 6.0 – 6.5 Billion 1,086 1,557 1,288 2,304 1,242 1Q13 2Q13 3Q13 4Q13 1Q14
  10. 10. 108 121 112 113 53 54 51 52 92 48 1Q13 2Q13 3Q13 4Q13 1Q14 215 250 256 258 106 111 117 120 219 113 1Q13 2Q13 3Q13 4Q13 1Q14 10 SG&A Expenses 378 332321 373361 Selling ExpensesG&A Expenses 165 140 161 163 175 US$ Million R$ Million
  11. 11. 11 Income from Operations EBIT EBIT Margin EBIT: US$ 540 – 620 Million EBIT Margin: 9.0% – 9.5% 2014 Outlook: US$ Million R$ Million 285 173 1,068 79 215 3.7% 8.8% 5.9% 20.2% 7.4% 1Q13 2Q13 3Q13 4Q13 1Q14 135 76 463 40 92 3.6% 8.7% 5.9% 20.1% 7.4% 1Q13 2Q13 3Q13 4Q13 1Q14
  12. 12. 12 EBITDA EBITDA EBITDA Margin EBITDA: US$ 780 – 910 Million EBITDA Margin: 13.0% – 14.0% 2014 Outlook: US$ Million R$ Million 100 204 156 544 151 9.2% 13.1% 12.1% 23.6% 12.2% 1Q13 2Q13 3Q13 4Q13 1Q14 201 427 359 1,253 355 9.3% 13.2% 12.2% 23.7% 12.1% 1Q13 2Q13 3Q13 4Q13 1Q14
  13. 13. 13 Net Income Net MarginNet Income US$ Million R$ Million 62 (10) 119 607 267 2.9% -0.3% 4.0% 11.5% 9.1% 1Q13 2Q13 3Q13 4Q13 1Q14 30 (5) 53 265 111 2.8% -0.3% 4.1% 11.5% 8.9% 1Q13 2Q13 3Q13 4Q13 1Q14
  14. 14. 14 Inventories US$ Million 2,510 2,523 2,780 2,287 2,542 1Q13 2Q13 3Q13 4Q13 1Q14
  15. 15. 1Q13 2Q13 3Q13 4Q13 1Q14 Net cash generated (used) by operating activities* (83) 186 102 761 (273) Additions to property, plant and equipment (50) (125) (106) (156) (48) Additions to intangible assets (68) (60) (80) (109) (83) Free Cash Flow (201) 2 (84) 496 (404) (125) (106) (156) (83) 186 102 761 (273)(50) (48) (68) (60) (80) (109) (83) (201) 2 (84) 496 (404) 1Q13 2Q13 3Q13 4Q13 1Q14 Free Cash Flow 15 * Net of Financial assets adjustment US$ Million
  16. 16. 5 80 320 250 25 9 RESEARCH DEVELOPMENT CAPEX Investments 16 2014 Outlook: US$ 650 Million 2014 Outlook2014 YTD US$ Million
  17. 17. 96% 96% 15% 6% 85% 94% 96% 4% 4% 4% 5.1 5.4 6.3 6.2 5.9 1Q13 2Q13 3Q13 4Q13 1Q14 17 Indebtedness Profile / Net Cash Indebtedness Maturity Net Cash (Debt) - US$ Million Long-term Short-term Loans Average Maturity (Years) US$ 2.22 BillionTotal Debt 1Q14 Total Cash 1Q14 US$ 2.27 Billion 98 58 (20) 429 53 1Q13 2Q13 3Q13 4Q13 1Q14
  18. 18. Investor Relations Phone: +55 12 3927 4404 investor.relations@embraer.com.br www.embraer.com

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