Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
SECOND QUARTER 2011 RESULTS                July 29th, 2011
Forward Looking StatementThis presentation includes forward-looking statements or statements about events orcircumstances ...
Recent Highlights• Market demand – at Paris Air Show four new deals annouced:Sriwijaya (Indonesia), Kenya Airways, GECAS (...
Recent Highlights• Strategic cooperation agreement with China’s Minsheng Financial Leasing for up to 20 executive jets.   ...
Recent Highlights• Sale of eight Super Tucano to Indonesian Air Force.• KC-390 – most of the strategic partnership supplie...
Revenue by Segment                                                                       Revenue   1.36          1.04     ...
Aircraft Deliveries                                                            48                           39            ...
Firm Order BacklogUS$ Billion                              3.8                     3.0                  3.2       3.0     ...
Revenues and Gross Margin          IFRS - US$ Million                                IFRS - R$ Million 20.2%   20.5%      ...
SG&A Expenses        IFRS - US$ Million                          IFRS - R$ Million                                        ...
Income from Operations         IFRS - US$ Million                            IFRS - R$ Million 9.0%           6.7%    8.9%...
EBITDA         IFRS - US$ Million                           IFRS - R$ Million12.2%   12.5%           14.8%                ...
Net Income         IFRS - US$ Million                                IFRS - R$ Million                        10,0%       ...
Inventories / Free Cash Flow                Inventories                            Free Cash Flow                         ...
Indebtedness Profile / Net Cash           Indebtedness Maturity                                   Net Cash           6%   ...
2011 OUTLOOK REVISION
2011 Outlook Revision                Current Outlook            New Outlook Net Revenues   US$ 5.6 billion   ~4%    US$ 5....
2011 Outlook Revision                           Current Outlook              New Outlook       Research             US$ 90...
19
Upcoming SlideShare
Loading in …5
×

Embraer 2 q11_results_final

314 views

Published on

Published in: Education, Business
  • Be the first to comment

  • Be the first to like this

Embraer 2 q11_results_final

  1. 1. SECOND QUARTER 2011 RESULTS July 29th, 2011
  2. 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. 2
  3. 3. Recent Highlights• Market demand – at Paris Air Show four new deals annouced:Sriwijaya (Indonesia), Kenya Airways, GECAS (U.S.) and Air Lease (U.S.).• 1H11: delivery of 45 jets and sale of 62 E-Jets, reaching 1,003 firm orders and 742 deliveries.• 42 additional aircraft pending final documentation, totaling 104 in 1H11. • Continuous customer base expansion – three new airlines added: People’s Viennaline (Austria), Air Astana (Kazakhstan) and Bulgaria Air. 3
  4. 4. Recent Highlights• Strategic cooperation agreement with China’s Minsheng Financial Leasing for up to 20 executive jets. • EBACE – first signs of recovery with a couple of orders: Comlux The Aviation Group – three Legacy 650; Portugal’s Ricon Group (Everjets) – one Phenom 300.• Delivery of the 200th Phenom to Swift Aviation Group. 4
  5. 5. Recent Highlights• Sale of eight Super Tucano to Indonesian Air Force.• KC-390 – most of the strategic partnership suppliers selected, including engine.• Program entering joint definition phase. 5
  6. 6. Revenue by Segment Revenue 1.36 1.04 1.97 1.05 1.36 US$ Billion 11% 8% 14% 17% 14% 14% 12% 13% 7% 11% 12% 48% 24% 14% 19% 16% 32% 10% 14% 62% 60% 61% 59% 48% 2Q10 3Q10 4Q10 1Q11 2Q11 Commercial aviation Executive aviation Defense and security Aviation services and others 6
  7. 7. Aircraft Deliveries 48 39 29 30 22 25 20 20 20 13 1 2 2 6 3 2Q10 3Q10 4Q10 1Q11 2Q11 Commercial Jets Executive Large Jets* Executive Light Jets** * Legacy e Lineage** Phenom 7
  8. 8. Firm Order BacklogUS$ Billion 3.8 3.0 3.2 3.0 2.8 2.9 2.8 18.8 20.9 14.8 16.6 15.6 16.0 15.8 2006 2007 2008 2009 2010 1Q2011 2Q2011 Firm Order Backlog Backlog/Revenue (Years) 8
  9. 9. Revenues and Gross Margin IFRS - US$ Million IFRS - R$ Million 20.2% 20.5% 24.3% 20.2% 20.6% 24.3% 22.4% 22.4% 16.8% 16.8% 1,970 3,3421,358 1,359 2,435 2,169 1,044 1,056 1,820 1,7572Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11 Revenues Gross Margin 9
  10. 10. SG&A Expenses IFRS - US$ Million IFRS - R$ Million 282 277 173 256 247 252 167143 151 103 142 103 61 64 88 95 9249 57 53 109 168 179 17494 106 94 155 157 892Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11 G&A Expenses Selling Expenses 10
  11. 11. Income from Operations IFRS - US$ Million IFRS - R$ Million 9.0% 6.7% 8.9% 7.8% 9.0% 6.7% 8.9% 7.8% 6.4% 6.4% 132 219 225122 106 169 94 157 66 1162Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11 EBIT EBIT Margin 11
  12. 12. EBITDA IFRS - US$ Million IFRS - R$ Million12.2% 12.5% 14.8% 12.2% 12.5% 14.8% 11.3% 11.5% 10.0% 10.0% 197 335166 298 156 153 260 250 131 2272Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11 EBITDA EBITDA Margin 12
  13. 13. Net Income IFRS - US$ Million IFRS - R$ Million 10,0% 9.9% 12.1% 12,1% 7.1% 6.2% 6,2% 7,1%4,2% 4.2% 220 208 126 123 174 105 96 154 102 57 2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11 Net Income Net Margin 13
  14. 14. Inventories / Free Cash Flow Inventories Free Cash Flow 220 193 2,708 2,697 2,5612,371 2,198 (38) (66) (126)2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11 14
  15. 15. Indebtedness Profile / Net Cash Indebtedness Maturity Net Cash 6% 5% 10% 13%22% 6.3 6.15.8 5.7 5.0 95% 90% 692 94% 87% 652 618 50578% 4062Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11 Long-term Short-term Loans Average Maturity (Years) Total Debt 2Q11: US$ 1.72 Billion Total Cash 2Q11: US$ 2.13 Billion 15
  16. 16. 2011 OUTLOOK REVISION
  17. 17. 2011 Outlook Revision Current Outlook New Outlook Net Revenues US$ 5.6 billion ~4% US$ 5.8 billion EBIT US$ 420 million ~11% US$ 465 million EBIT margin 7.5% 8.0% EBITDA US$ 610 million ~15% US$ 700 millionEBITDA margin 11.0% 12.0%
  18. 18. 2011 Outlook Revision Current Outlook New Outlook Research US$ 90 million US$ 90 million Development US$ 210 million US$ 160 million CAPEX US$ 200 million US$ 200 million US$ Million 200 160 90 83 71 38 Research Development CAPEX YTD Outlook 18
  19. 19. 19

×