1
Forward Looking Statement


This presentation includes forward-looking statements or statements about events or circumstan...
Highlights 2009




                  3
Company Highlights 2009


     In 2009, Embraer completed 40 years of existence with more than
         5 thousand aircraf...
Company Highlights 2009

Embraer’s market share in the bizjet market increased from 3%
        to 14% (deliveries) and 4% ...
Net Revenue (US GAAP)

                                                                                           Gui
    ...
Aircraft Deliveries




                                                                                      244
        ...
Firm Order Backlog

US$ Billion

                                     4.2   4.2
                              3.9         ...
Revenue Breakdown


           Revenue by Segment                                   Revenue by Region


       3%         ...
Financial Results




                    10
Net Revenues and
                  Gross Margin


        US Gaap - US$ Million                    BR Gaap - R$ Million


...
SG&A Expenses


US Gaap - US$ Million                      BR Gaap - R$ Million


  625
                                  ...
Income from Operations
                 (US GAAP)



       US Gaap - US$ Million                    US Gaap - US$ Million...
Income from Operations
                    (BR GAAP)



          BR Gaap - R$ Million                     BR Gaap - R$ Mi...
EBITDA


       US Gaap - US$ Million                          BR Gaap - R$ Million


                9.6%                ...
Net Income (US GAAP)


       US Gaap - US$ Million                  US Gaap - US$ Million


9.3%                         ...
Net Income (BR GAAP)


          BR Gaap - R$ Million                       BR Gaap - R$ Million


11.9%                  ...
Inventories


            US Gaap - US$ Million




                    2,837
    2,491
                                  ...
Indebtedness Profile


             Total Debt 4Q09: US$ 2,043 Million

                                                  ...
Operating Cash Flow
                  Investments


        US Gaap - US$ Million




                                404
...
Net Cash


        US Gaap - US$ Million




                                 503
376


       122
                 52    ...
2010 Outlook
and Guidance




               22
2010 Outlook

Commercial aviation: some hope on the horizon, but structural concerns still.


         Business aviation: ...
2010 Guidance



Net revenues - US$ 5.0 billion
    • Commercial aviation: US$ 2.6 billion
    • Executive aviation: US$ 1...
Other Relevant Estimates


2010 projected deliveries
   • 90 commercial jets
   • 137 business jets
       • 17 Legacy / L...
26
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Embraer 4Q09 Results

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Embraer 4Q09 Results

  1. 1. 1
  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. 2
  3. 3. Highlights 2009 3
  4. 4. Company Highlights 2009 In 2009, Embraer completed 40 years of existence with more than 5 thousand aircraft produced and operating in 78 countries. Effective restructuring preserving Company’s operational, economical and financial solidness. All operational targets achieved. Solid net cash position of US$ 500 million. Successful US$ 500 million, ten-year bond issued at attractive rates. 20% reduction of SG&A. Significant inventory reduction of US$ 0.5 billion. Reduction in Capex but preserving strategic investments. Fifth consecutive year listed in the BM&FBOVESPA Sustainability Index (ISE). 4
  5. 5. Company Highlights 2009 Embraer’s market share in the bizjet market increased from 3% to 14% (deliveries) and 4% to 6.5% (revenues). Phenom 300 was certified on schedule (December 2009), meeting or surpassing all of its performance goals. Successful ramp up of Phenom 100 and Lineage 1000. First flight of Legacy 650. Financing secured for all commercial jet deliveries. Landmark development contract for KC390 aircraft. Solid progress of P3E and technological development. 5
  6. 6. Net Revenue (US GAAP) Gui d US$ Million Del ance iver ed 6,335 5,245 5,466 3,830 3,760 3,441 2,762 2,927 2,526 1,837 2,144 1,354 764 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 6
  7. 7. Aircraft Deliveries 244 204 *98 160 161 169 *2 148 141 131 130 96 101 60 32 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 * Phenom Jets 7
  8. 8. Firm Order Backlog US$ Billion 4.2 4.2 3.9 3.8 3.3 3.1 3.0 2.8 2.8 2.6 2.2 2.2 2.3 20.9 18.8 16.6 14.8 11.4 10.7 10.6 10.4 9.0 10.1 6.4 3.0 4.1 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Firm Order Backlog Backlog/Revenue (Years) 8
  9. 9. Revenue Breakdown Revenue by Segment Revenue by Region 3% 2% 2% 8% 7% 6% 10% 9% 11% 6% 14% 4% 18% 21% 16% 16% 12% 8% 4% 7% 9% 10% 11% 24% 7% 18% 32% 64% 67% 62% 46% 43% 23% 2007 2008 2009 2007 2008 2009 Commercial aviation Defense North America Europe Latin America Executive aviation Aviation services Brazil Asia Pacific Others Others 9
  10. 10. Financial Results 10
  11. 11. Net Revenues and Gross Margin US Gaap - US$ Million BR Gaap - R$ Million 21.2% 20.5% 22.0% 20.5% 20.4% 19.2% 6,335 11,747 5,466 10,813 5,245 9,994 2007 2008 2009 2007 2008 2009 Net Revenues Gross Margin 11
  12. 12. SG&A Expenses US Gaap - US$ Million BR Gaap - R$ Million 625 1,156 232 496 979 425 191 376 393 731 305 603 2008 2009 2008 2009 Selling Expenses General and Adm. Expenses 12
  13. 13. Income from Operations (US GAAP) US Gaap - US$ Million US Gaap - US$ Million 8.5% 15.1% 10.5% 8.0% 7.1% 6.1% 4.1% 103 275 537 103 374 336 66 2007 2008 2009 4Q 08 4Q 09 Income from Operations Operating Margin 13
  14. 14. Income from Operations (BR GAAP) BR Gaap - R$ Million BR Gaap - R$ Million 9.5% 10.5% 9.4% 8.6% 8.4% 6.8% 179 2.2% 1,113 436 938 732 179 60 2007 2008 2009 4Q 08 4Q 09 Income from Operations Operating Margin 14
  15. 15. EBITDA US Gaap - US$ Million BR Gaap - R$ Million 9.6% 13.2% 12.8% 12.3% 9.6% 8.3% 7.7% 10.7% 179 103 608 1,500 1,322 1,157 433 422 2007 2008 2009 2007 2008 2009 EBITDA EBITDA Margin 15
  16. 16. Net Income (US GAAP) US Gaap - US$ Million US Gaap - US$ Million 9.3% 9,1% 6.1% 4.5% 6,1% 489 146 389 112 249 2007 2008 2009 4Q08 4Q09 Net Income Net Margin 16
  17. 17. Net Income (BR GAAP) BR Gaap - R$ Million BR Gaap - R$ Million 11.9% 6,0% 8.3% 3.6% 168 1,185 895 429 (41) -1,0% 2007 2008 2009 4Q08 4Q09 Net Income Net Margin 17
  18. 18. Inventories US Gaap - US$ Million 2,837 2,491 2,340 2007 2008 2009 18
  19. 19. Indebtedness Profile Total Debt 4Q09: US$ 2,043 Million 4.9 29% 27% 48% 47% 29% 3.5 3.3 2.1 2.6 71% 73% 52% 53% 71% 4Q08 1Q09 2Q09 3Q09 4Q09 Long-term Short-term Loans Average Maturity (Years) 19
  20. 20. Operating Cash Flow Investments US Gaap - US$ Million 404 Investments - US$ 247 million: 40 • R&D: US$ 144 million; (64) • PP&E: US$ 103 million. (244) ow Bel et g Bud 1Q09 2Q09 3Q09 4Q09 20
  21. 21. Net Cash US Gaap - US$ Million 503 376 122 52 71 4Q08 1Q09 2Q09 3Q09 4Q09 21
  22. 22. 2010 Outlook and Guidance 22
  23. 23. 2010 Outlook Commercial aviation: some hope on the horizon, but structural concerns still. Business aviation: some indicators showing positive trend. Embraer growing its market share. Defense business resilient. Embraer benefiting from Brazil’s growth / global insertion. Company’s operations, productivity, quality and employee moral in good shape and improving – P3E in full force. Investments in technological development producing concrete results and paving the future. Embraer with increasingly solid strategic positioning. Readiness to leverage results when markets rebound. 23
  24. 24. 2010 Guidance Net revenues - US$ 5.0 billion • Commercial aviation: US$ 2.6 billion • Executive aviation: US$ 1.1 billion • Defense: US$ 650 million • Services and others: US$ 650 million EBIT - US$ 300 million EBIT margin - 6.0% 24
  25. 25. Other Relevant Estimates 2010 projected deliveries • 90 commercial jets • 137 business jets • 17 Legacy / Lineage • 120 Phenom EBITDA - US$ 375 million EBITDA margin - 7,5% Investments - Budget US$ 300 million • R&D: US$ 160 million • PP&E: US$ 140 million 25
  26. 26. 26

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