- Embraer reported record net income of $147.9 million for the second quarter of 2001, up 136% from the second quarter of 2000. - Net sales increased 27% to $838.1 million compared to the second quarter of 2000. - Gross profit more than doubled to $379.9 million, with gross margin expanding to 45% from 28% in the previous year.

1. 2nd Q u a r t e r 2 0 0 1
nd
Results
A u g u s t 1 3 ,, 2 0 0 1
August 13 2001

2. Forward Looking
This presentation includes f o r w a r d-l o o k i n g statements or statements about events or
c i r c u m s t a n c e s w h i c h h a v e n o t o c c u r r e d . W e h a v e b a s e d t h e s e f o r w a r d-l o o k i n g s t a t e m e n t s
largely on our current expectations and projections about future events and financial trends
affecting our business and our future financial performance. T h e s e f o r w a r d-l o o k i n g
statements are subject to risks, uncertainties and assumptions, including, among other
things: g e n e r a l e c o n o m i c , p o l i t i c a l a n d b u s i n e s s c o n d i t i o n s , b ot h i n B r a z i l a n d i n o u r
m a r k e t T h e w o r d s “ b e l i e v e s , ” “ m a y ,” “ will,” “ e s t i m a t e s ,” “c o n t i n u e s ,” “ a n t i c i p a t e s ,” “i n t e n d s ,”
“ e x p e c t s” a n d s i m i l a r w o r d s a r e i n t e n d e d t o i d e n t i f y f o r w a r d-l o o k i n g s t a t e m e n t s . We
u n d e r t a k e n o o b l i g a t i o n s t o u p d a t e p u b l i c l y o r r e v i s e a n y f o r w a r d-l o o k i n g s t a t e m e n t s
b e c a u s e o f n e w i n f o r m a t i o n , f u t u r e e v e n t s o r o t h e r f a c t o r s . I n li g h t o f t h e s e r i s k s a n d
u n c e r t a i n t i e s , t h e f o r w a r d-l o o k i n g e v e n t s a n d c i r c u m s t a n c e s d i s c u s s e d i n t h i s p r e s s
release might not occur. Our actual results could differ substantially from those anticipated
i n o u r f o r w a r d-l o o k i n g s t a t e m e n t s

3. 2nd Quarter Highlights
nd
• Net Income for the second quarter was US$ 147.9 millions - a
record in Embraer’s history
• Embraer’s total backlog reached US$ 23.5 billions
• Embraer largest exporter Brazilian company in Brazil - US$ 1,5
billions exports for the 1H01
• Skyway Airlines signed a memo of understading placing 20 firm
orders plus 20 options for the ERJ 140
• The Secondary Offering increased the preferred shares “free float ”
to 58.5%

4. 2nd Quarter Highlights
nd
• Chautaqua Airlines confirmed 28 options of the ERJ 145 to ERJ
140 and orderaed more 25 options
• Transtates Airlines placed a new order for 10 ERJ 140 and an
additional 25 options
• Embraer announced that Brazil’s TAM airlines signed a M e m o of
understanding for the purchase of up to 100 ERJ 190 –200
• Embraer and A T R presented AEROChain, a new e-business
marketplace aimed to improve commercial relationship with its
custommers and suppliers
• Embraer announced orders of 7 new Legacy business jet during Le
Bourget Air Show

5. Jet Deliveries
60
50
44 44 44
42
40 38
34
30
20
10
0
1Q00 2Q00 3Q00 4Q00 1Q01 2Q01

6. Net Sales
US$ Millions
1.000
838
766 772 756
800
659
583
600
400
200
0
1Q00 2Q00 3Q00 4Q00 1Q01 2Q01

7. G r o s s Profit
US$ Millions
500 50%
45,3%
39,5%
400 40%
33,9%
31,8% 380
29,1% 28,9% 299
Margin %
300 30%
260
US$ MM
246
187
200 170 20%
100 10%
0 0%
1Q00 2Q00 3Q00 4Q00 1Q01 2Q01

8. EBIT
US$ Milhões
400 31,1%
27,6% 30%
300
23,0%
US$ MM
Margin %
17,0% 17,8% 209 261 20%
200 15,6% 177
137
99 103 10%
100
0 0%
1Q00 2Q00 3Q00 4Q00 1Q01 2Q01

9. EBITDA
US$ Milhões
400 40%
33,6%
30,5%
300 30%
26,0%
231 282
US$ MM
Margin %
20,4% 20,4%
18,3% 199
200 20%
158
119 121
100 10%
0 0%
1Q00 2Q00 3Q00 4Q00 1Q01 2Q01

10. Net Income
U$ Milhões
200 20%
17,6%
16,6%
14,3%
150 13,5% 15%
128 148
US$ MM
Margin %
104 109
9,4% 9,5%
100 10%
63
55
50 5%
0 0%
1Q00 2Q00 3Q00 4Q00 1Q01 2Q01

11. 2 n d Quarter Results – C o r p o r a t e L a w
nd
2Q00 2Q01 % Changed
(US$ millions)
Net Sales $658.6 $838.1 27%
G r o s s Profit 186.9 379.9 103%
Gross Margin 28% 45%
EBIT 102.7 260.8 154%
EBIT M a r g i n 16% 31%
EBITDA 120.8 281.9 133%
EBITDA Margin 18% 34%
Finacial Income ( E x p e n s e s) (7.0) 24.4 (449)%
M o n e t a r y & Exchange Variations (26.5) (65.5) 147%
Net I n c o m e 62.6 147.9 136%
Net M a r g i n 9% 18%
Earnings p e r A D S US$0.40 US$0.95 136%
(*) Calculation based on total number of shares oustanding as of /30/01

12. 1 st Half Results – C o r p o r a t e L a w
st
1H00 1H01 % Changed
(US$ millions)
Net Sales $1,241.4 $1,599.7 29%
G r o s s Profit 355.2 684.1 93%
Gross Margin 29% 43%
EBIT 201.9 473.1 134%
EBIT M a r g i n 16% 30%
EBITDA 239.6 515.9 115%
EBITDA Margin 19% 32%
Finacial Income ( E x p e n s e s) (12.6) 47.6 (478)%
M o n e t a r y & Exchange Variations (28.0) (144.2) 415%
Net I n c o m e 117.7 258.8 120%
Net M a r g i n 9% 16%
Earnings p e r A D S US$0.76 US$1.67 120%
(*) Calculation based on total number of shares oustanding as of /30/01

13. Total D e b t
US$ 567.3 millions Total Debt
Local
Currency
8%
Long Term
Foreign
Currency 22%
92%
Short Term
78%

14. Net C a s h ( D e b t)
US$ Milhões
$800 732 749
696
$600
$400
$200 108
$0
(37)
($200)
(208)
($400)
1Q00 2Q00 3Q00 4Q00 1Q01 2Q01

15. Quarter Results – US G a a p
1Q01 2Q01 % Changed
(US$ millions)
Net Sales $686.5 $844.5 23%
G r o s s Profit 206.0 290.4 41%
Gross Margin 30% 34%
EBIT 110.0 151.6 38%
EBIT M a r g i n 16% 18%
EBITDA 120.9 160.7 33%
EBITDA Margin 18% 19%
Finacial Income ( E x p e n s e s) 10.1 (2.1) (121)%
Monetary and Exchange Variations (11.5) (1.1) (90)%
Net I n c o m e 71.1 74.0 4%
Net M a r g i n 10% 9%

16. 1 st Half Results – U S G a a p
st
1H00 1H01 % Changed
(US$ millions)
Net Sales $1,087.0 $1,531.0 41%
G r o s s Profit 357.8 496.4 39%
Gross Margin 33% 32%
EBIT 213.0 261.6 23%
EBIT M a r g i n 20% 17%
EBITDA 228.0 281.6 24%
EBITDA Margin 19% 18%
Finacial Income ( E x p e n s e s) (25.0) 8.0 (132)%
Monetary and Exchange Variations (12.1) (12.6) 4%
Net I n c o m e 130.4 145.1 11%
Net M a r g i n 12% 9%

17. Firm Order Backlog
US$23.5 Billions in Orders, including US$ 10.7 Billions
in Firm Orders
14
12 11.4
10.9 11.1 10.7
US$ Billion
10
8.6
7.6
8
6
4
2
0
1Q00 2Q00 3Q00 4Q00 1Q01 2Q01

18. Order Book
Firm Options Total
ERJ 135 148 63 211
ERJ 140 139 25 164
ERJ 145 551 315 866
Total 838 403 1,241
J u n e, 2 0 0 1 18

19. Order Book
Firm Options Total
ERJ 170 90 133 223
ERJ 190 30 72 102
Total 120 205 325
J u n e, 2 0 0 1

20. New Orders
US$5.0 Billions in New Orders
Customer Model Firm Options Total
Midwest Espress ERJ 140 20 20 40
Transtates ERJ 140 35 10 45
Chautaqua/ Wexford ERJ 140 28 25 53
TAM E R J 1 9 0- 200 25 75 100
TOTAL 108 130 238