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.

Embraer 4 q14_results_final (8)

4,052 views

Published on

ri

Published in: Business
  • Be the first to comment

  • Be the first to like this

Embraer 4 q14_results_final (8)

  1. 1. This information is property of Embraer and can not be used or reproduced without written permission. 4Q14 & FY 2014 EARNINGS RESULTS MARCH 5th, 2015
  2. 2. This information is property of Embraer and can not be used or reproduced without written permission. 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 FORWARD LOOKING STATEMENT
  3. 3. This information is property of Embraer and can not be used or reproduced without written permission. HIGHLIGHTS CELEBRATION OF 45TH ANNIVERSARY ON AUGUST 19TH. LISTED FOR THE 5TH CONSECUTIVE YEAR ON THE DJSI AND ALSO ON THE ISE. WINNER OF THE NATIONAL BRAZILIAN QUALITY AWARD (PNQ), PRESENTED BY THE NATIONAL QUALITY FOUNDATION (FNQ). AWARDED AND RECOGNIZED AS ONE OF THE BEST COMPANIES IN BRAZIL AND ABROAD IN SEVERAL CATEGORIES. 3
  4. 4. This information is property of Embraer and can not be used or reproduced without written permission. HIGHLIGHTS 4Q14 4 DELIVERY OF 30 E-JETS. 1,100TH E-JET PRODUCTION AIRCRAFT DELIVERED TO AEROMEXICO AIRLINES. SKYWEST ORDER FOR SEVEN E175 JETS. FIRST METAL CUT OF THE E-JETS E2.
  5. 5. This information is property of Embraer and can not be used or reproduced without written permission. HIGHLIGHTS 5 DELIVERY OF 92 E-JETS IN 2014. 258 E-JETS (E1&E2) SOLD AND COMMITMENTS IN 2014. 590 E-JETS E2 COMMITMENTS. 1,549 ORDERS WITH A CUSTOMER BASE OF 65 AIRLINES IN 45 COUNTRIES. LEADERSHIP IN THE COMMERCIAL JETS SEGMENT FROM 70 TO 130 SEATS.
  6. 6. This information is property of Embraer and can not be used or reproduced without written permission. HIGHLIGHTS 4Q14 6 DELIVERY OF 52 EXECUTIVE JETS (38 LIGHT AND 14 LARGE JETS). CONVERSION OF 10 PHENOM 300 OPTIONS INTO FIRM ORDERS FROM NETJETS. DELIVERY OF THE FIRST THREE LEGACY 500s.
  7. 7. This information is property of Embraer and can not be used or reproduced without written permission. HIGHLIGHTS 7 DELIVERY OF 116 EXECUTIVE JETS (92 LIGHT AND 24 LARGE JETS) IN 2014. LEGACY 500 CERTIFIED IN BRAZIL, US, EUROPE AND AUSTRALIA. PHENOM 300 WAS THE MOST DELIVERED EXECUTIVE JET FOR THE SECOND CONSECUTIVE YEAR (73 UNITS). FIRST PLACE IN CUSTOMER SUPPORT IN THE ANNUAL SURVEY BY AIN MAGAZINE.
  8. 8. This information is property of Embraer and can not be used or reproduced without written permission. HIGHLIGHTS 4Q14 8 28 KC-390 SOLD TO THE BRAZILIAN AIR FORCE. MOU WITH SAAB FOR BRAZIL´S F-X2 PROJECT. DELIVERY OF THE FIRST FOUR A-29 SUPER TUCANOs TO THE U.S. AIR FORCE.
  9. 9. This information is property of Embraer and can not be used or reproduced without written permission. HIGHLIGHTS 9 DEFENSE & SECURITY REVENUES OF US$ 1.5 BILLION. FIRST FLIGHT OF EMBRAER KC-390. SISFRON PROJECT’S OPERATIONS INAUGURATION. CONTRACTS WITH THE BRAZILIAN GOVERNMENT TO SUPPLY RADARS AND OPERATION CENTER UNITS. CRITICAL DESIGN REVIEW OF THE BRAZILIAN GEOSTATIONARY SATELLITE. NEW ATM SYSTEMS FOR BRAZILIAN AND INDIAN GOVERNMENT.
  10. 10. This information is property of Embraer and can not be used or reproduced without written permission. FINANCIAL RESULTS
  11. 11. This information is property of Embraer and can not be used or reproduced without written permission. FIRM ORDER BACKLOG US$ BILLION 18.2 19.2 18.1 22.1 20.9 4Q13 1Q14 2Q14 3Q14 4Q14 11 COMMERCIAL AVIATION DEFENSE & SECURITY EXECUTIVE AVIATION
  12. 12. This information is property of Embraer and can not be used or reproduced without written permission. AIRCRAFT DELIVERIES LARGE JETS - LEGACY & LINEAGE LIGHT JETS - PHENOM 2014 DELIVERIES OUTLOOK • 92 - 97 E-JETS • 25 - 30 EXECUTIVE LARGE JETS • 80 - 90 EXECUTIVE LIGHT JETS 12 101 105 106 90 92 2010 2011 2012 2013 2014 19 16 22 29 24 126 83 77 90 92 2010 2011 2012 2013 2014
  13. 13. This information is property of Embraer and can not be used or reproduced without written permission.13 NET REVENUES 2014 OUTLOOK: US$ 6.0 – 6.5 BILLION 5,364 5,791 6,167 6,235 6,289 2010 2011 2012 2013 2014 US$ MILLION
  14. 14. This information is property of Embraer and can not be used or reproduced without written permission. 24% 29% 48% 31% 22% 14% 14% 21% 21%3% 8% 3% 14% 6% 4%5% 9% 4% 9% 5% 6% 2012 2013 2014 61% 53% 50% 21% 27% 26% 17% 19% 23% 1% 1% 1% 2012 2013 2014 REVENUES BREAKDOWN NET REVENUES BY SEGMENT NET REVENUES BY REGION COMMERCIAL AVIATION EXECUTIVE AVIATION OTHERS DEFENSE & SECURITY Revenues US$ Billion 6.17 6.24 6.29 Revenues US$ Billion6.17 6.24 6.29 NORTH AMERICA BRAZIL EUROPE ASIA PACIFIC SOUTH & CENTRAL AMERICA AFRICA & MIDDLE EAST CHINA 14
  15. 15. This information is property of Embraer and can not be used or reproduced without written permission. US$ MILLION R$ MILLION 15 NET REVENUES 5,296 2,929 3,929 2,827 5,251 4Q13 1Q14 2Q14 3Q14 4Q14 2,304 1,242 1,761 1,240 2,046 4Q13 1Q14 2Q14 3Q14 4Q14 2014: 14,9362014: 6,289
  16. 16. This information is property of Embraer and can not be used or reproduced without written permission.16 US$ MILLION SG&A EXPENSES SELLING EXPENSESG&A EXPENSES EXPENSES / NET REVENUES 374 419 480 454 420 198 261 279 211 208 11% 12% 12% 11% 10% 2010 2011 2012 2013 2014
  17. 17. This information is property of Embraer and can not be used or reproduced without written permission. 258 219 257 226 289 120 113 118 118 141 4Q13 1Q14 2Q14 3Q14 4Q14 344 430 378 375 332 SELLING EXPENSESG&A EXPENSES 17 SG&A EXPENSES US$ MILLION R$ MILLION 113 92 115 99 113 52 48 53 52 55 4Q13 1Q14 2Q14 3Q14 4Q14 168 151 140 165 168 2014: 1,4812014: 627
  18. 18. This information is property of Embraer and can not be used or reproduced without written permission. 392 318 612 713 543 7.3% 5.5% 9.9% 11.4% 8.6% 2010 2011 2012 2013 2014 9.1% 2014 OUTLOOK: EBIT: US$ 540 – 620 MILLION EBIT MARGIN: 9.0% – 9.5% 18 INCOME FROM OPERATIONS (EBIT) US$ MILLION EBIT EBIT MARGIN 566 EXCLUDING AMR EFFECT 713
  19. 19. This information is property of Embraer and can not be used or reproduced without written permission. 1,068 215 417 157 515 20.2% 7.4% 10.6% 5.6% 9.8% 4Q13 1Q14 2Q14 3Q14 4Q14 463 92 187 68 196 20.1% 7.4% 10.6% 5.5% 9.6% 4Q13 1Q14 2Q14 3Q14 4Q14 19 INCOME FROM OPERATIONS (EBIT) US$ MILLION R$ MILLION EBIT EBIT MARGIN 2014: 1,304 | 8.7%2014: 543 | 8.6% 316 723 13.7% EXCLUDING AMR EFFECT 13.7%
  20. 20. This information is property of Embraer and can not be used or reproduced without written permission. 13.8% 2014 OUTLOOK: EBITDA: US$ 780 – 910 MILLION EBITDA MARGIN: 13.0% – 14.0% 20 EBITDA US$ MILLION EBITDA EBITDA MARGIN 611 557 891 1,004 830 11.4% 9.6% 14.4% 16.1% 13.2% 2010 2011 2012 2013 2014 EXCLUDING AMR EFFECT 1,004 857
  21. 21. This information is property of Embraer and can not be used or reproduced without written permission. 544 151 261 136 281 23.6% 12.2% 14.8% 11.0% 13.8% 4Q13 1Q14 2Q14 3Q14 4Q14 21 EBITDA US$ MILLION R$ MILLION EBITDA EBITDA MARGIN 2014: 1,981 | 13.3%2014: 830 | 13.2% 1,253 355 583 311 732 23.7% 12.1% 14.8% 11.0% 13.9% 4Q13 1Q14 2Q14 3Q14 4Q14 EXCLUDING AMR EFFECT 17.3% 17.2% 397 909
  22. 22. This information is property of Embraer and can not be used or reproduced without written permission.22 NET INCOME US$ MILLION NET MARGINNET INCOME 330 112 348 342 335 6.2% 1.9% 5.6% 5.5% 5.3% 2010 2011 2012 2013 2014
  23. 23. This information is property of Embraer and can not be used or reproduced without written permission.23 NET INCOME US$ MILLION R$ MILLION NET MARGINNET INCOME 2014: 796 | 5.3%2014: 335 | 5.3% 607 259 320 (24) 242 11.5% 8.8% 8.1% -0.9% 4.6% 4T13 1T14 2T14 3T14 4T14 265 111 143 (11) 91 11.5% 8.9% 8.1% -0.9% 4.5% 4Q13 1Q14 2Q14 3Q14 4Q14
  24. 24. This information is property of Embraer and can not be used or reproduced without written permission.24 EPADS & PAY OUT US$ PAY OUTEPADS 1.83 0.62 1.92 1.88 1.82 34% 116% 26% 26% 27% 2010 2011 2012 2013 2014
  25. 25. This information is property of Embraer and can not be used or reproduced without written permission.25 INVENTORIES US$ MILLION 2,198 2,288 2,157 2,287 2,405 2010 2011 2012 2013 2014
  26. 26. This information is property of Embraer and can not be used or reproduced without written permission. 47 230 153 80 320 250 RESEARCH DEVELOPMENT CAPEX 2014 OUTLOOK: US$ 650 MILLION 2014 OUTLOOK2014 26 INVESTMENTS US$ MILLION 2014: 430
  27. 27. This information is property of Embraer and can not be used or reproduced without written permission. 4Q13 1Q14 2Q14 3Q14 4Q14 2014 NET CASH GENERATED (USED) BY OPERATING ACTIVITIES* 761 (273) 13 49 507 296 ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT (156) (48) (60) (89) (87) (284) ADDITIONS TO INTANGIBLE ASSETS (109) (83) (103) (97) (132) (415) FREE CASH FLOW 496 (404) (150) (138) 288 (404) 761 (273) 13 49 507 (156) (48) (60) (89) (87) (109) (83) (103) (97) (132) 496 (404) (150) (138) 288 4Q13 1Q14 2Q14 3Q14 4Q14 27 FREE CASH FLOW * Net of Financial assets adjustment US$ MILLION 2014: (404)
  28. 28. This information is property of Embraer and can not be used or reproduced without written permission. 96% 96% 96% 96% 96% 4% 4% 4% 4% 4% 6.2 5.9 5.7 5.6 5.4 4Q13 1Q14 2Q14 3Q14 4Q14 INDEBTEDNESS MATURITY NET CASH (DEBT) - US$ MILLION LONG-TERM SHORT-TERM LOANS AVERAGE MATURITY (YEARS) 28 INDEBTEDNESS PROFILE | NET CASH TOTAL DEBT 4Q14: US$ 2.51 BILLION TOTAL CASH 4Q14: US$ 2.42 BILLION 429 53 (114) (327) (85) 4Q13 1Q14 2Q14 3Q14 4Q14
  29. 29. This information is property of Embraer and can not be used or reproduced without written permission. 2015 OUTLOOK
  30. 30. This information is property of Embraer and can not be used or reproduced without written permission. EBITDA MARGIN 12.0% – 13.0% NET REVENUES EBITDA US$ 6.1 – 6.6 BILLION US$ 730 – 860 MILLION EBIT MARGIN 8.0% – 8.5% EBIT US$ 490 – 560 MILLION FCF > (US$ 100) MILLION* 30 2015 CONSOLIDATED OUTLOOK * FCF USE OF LESS THAN US$ 100 MILLION.
  31. 31. This information is property of Embraer and can not be used or reproduced without written permission. 2015 BUSINESS UNITS OUTLOOK 31 18% OF NET REVENUES 2% OF NET REVENUES 28% OF NET REVENUES 52% OF NET REVENUES DELIVERIES: 95 TO 100 E-JETS US$ 100 MILLION US$ 1.70 – 1.85 BILLION US$ 1.10 – 1.25 BILLION OTHER REVENUES US$ 3.20 – 3.40 BILLION DELIVERIES: 80 TO 90 LIGHT JETS 35 TO 40 LARGE JETS
  32. 32. This information is property of Embraer and can not be used or reproduced without written permission. TOTAL INVESTMENTS: US$ 650 MILLION RESEARCH US$ 50 MILLION DEVELOPMENT US$ 300 MILLION CAPEX US$ 300 MILLION 32 2015 INVESTMENT OUTLOOK
  33. 33. This information is property of Embraer and can not be used or reproduced without written permission. INVESTOR RELATIONS PHONE: +55 12 3927 4404 INVESTOR.RELATIONS@EMBRAER.COM.BR WWW.EMBRAER.COM

×