SAO JOSE DOS CAMPOS, Brazil,
March 3, 2016 /PRNewswire/ -- EMBRAER
S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) releases fourth quarter
and fiscal year 2015 results and 2016 outlook.
HIGHLIGHTS
- In 4Q15, Embraer delivered 33 commercial and 45 executive (25
light and 20 large) jets. The Company ended 2015 with 101 total
commercial aircraft deliveries, surpassing 2015 Guidance. Total
executive jet deliveries of 120 aircraft (82 light and 38 large)
met the executive jet deliveries Guidance for 2015;
- Revenues in 4Q15 reached US$ 2,074.4
million and in 2015 were US$ 5,928.1
million, also meeting the Company's 2015 Revenue Guidance
range of US$ 5.8 to US$ 6.3
billion;
- EBIT and EBITDA margins were 3.1% and 7.9%, respectively, in
4Q15, and for fiscal year 2015 the EBIT and EBITDA margins were
5.6% and 10.9%, respectively.
- Excluding provisions related to the Chapter 11 filing of
Republic Airways Holdings, EBIT and EBITDA margins in 4Q15 were
8.0% and 12.8%, respectively, and for fiscal year 2015 EBIT and
EBITDA margins excluding these items were 7.3% and 12.6%,
respectively. EBITDA margin excluding these provisions met the
Guidance range of 12.6% to 13.6% for the year, though EBIT margin
was below Guidance;
- Free Cash Flow was strong in 4Q15, at US$ 660.0 million, and 2015 Free Cash Flow was
US$ 177.8 million. Free Cash Flow was
better than 2014 Free Cash Flow usage of US$
(403.6) million. Embraer also finished 2015 with net cash of
US$ 7.2 million vs. net debt of
US$38.7 million at the end of
2014;
- 4Q15 Net income attributable to Embraer Shareholders and
Earnings per ADS totaled US$ 111.2
million and US$ 0.6091
(US$ 29.7 million and US$ 0.1627 per share excluding deferred tax and
provisions relating to Republic's Chapter 11 filing), respectively,
and 2015 Net income attributable to Embraer Shareholders and
Earnings per ADS totaled US$ 69.2
million and US$ 0.3787
(US$ 272.0 million and US$ 1.49 per share excluding these items),
respectively.
- Company Guidance for 2016 is for Net Revenues of US$ 6.0 to US$ 6.4 billion. This Guidance is
driven by expected deliveries of 105 to 110 jets in Commercial
Aviation and 40 to 50 large jets and 75 to 85 light jets in
Executive Jets, with Defense & Security revenues of
US$ 0.7 to US$ 0.75 billion for the
year.
Main financial indicators
in millions of U.S
dollars, except % and earnings per share data
|
IFRS
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
3Q15
|
4Q14
|
4Q15
|
2014
|
2015
|
Revenue
|
1,284.6
|
2,045.5
|
2,074.4
|
6,288.8
|
5,928.1
|
EBIT
|
84.4
|
196.3
|
65.3
|
543.3
|
331.5
|
EBIT Margin
%
|
6.6%
|
9.6%
|
3.1%
|
8.6%
|
5.6%
|
Adjusted
EBIT
|
84.4
|
196.3
|
166.2
|
543.3
|
432.4
|
Adjusted EBIT Margin
%
|
6.6%
|
9.6%
|
8.0%
|
8.6%
|
7.3%
|
EBITDA
|
158.0
|
281.3
|
163.6
|
829.6
|
648.3
|
EBITDA Margin
%
|
12.3%
|
13.8%
|
7.9%
|
13.2%
|
10.9%
|
Adjusted
EBITDA
|
158.0
|
281.3
|
264.5
|
829.6
|
749.2
|
Adjusted EBITDA
Margin %
|
12.3%
|
13.8%
|
12.8%
|
13.2%
|
12.6%
|
Adjusted Net Income
²
|
71.5
|
129.4
|
29.7
|
413.8
|
272.0
|
Net income (loss)
attributable to Embraer Shareholders
|
(109.6)
|
91.4
|
111.2
|
334.7
|
69.2
|
Earnings (loss) per
share - ADS basic (US$)
|
(0.6013)
|
0.4983
|
0.6091
|
1.8247
|
0.3787
|
Net Cash
(Debt)
|
(643.9)
|
(38.7)
|
7.2
|
(38.7)
|
7.2
|
(1) Derived from
unaudited financial information.
|
|
|
|
(2) Derived from
audited financial information.
|
|
|
|
|
|
For additional information, please check the full document in
our website: http://ri.embraer.com.br
Investor Relations
Eduardo Couto, Caio Pinez,
Christopher Thornsberry,
Claudio Massuda, Nadia Santos, Paulo
Ferreira and Viviane
Pinheiro.
(+55 12)
3927-4404
investor.relations@embraer.com.br
http://ri.embraer.com.br
Follow Embraer's IR Department on twitter: @IREmbraer
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 4Q14 Results
on Thursday, March 3, 2016 at
1:00PM (SP) / 11:00AM (NY). The conference call will also
be broadcast live over the web at
http://ri.embraer.com.br
Telephones:
Operator Assisted (US/ Canada) Toll-Free Dial-In Number: (877)
846-1574
Operator Assisted International Dial-In Number: (708) 290-0687
Your own International Toll-Free number for Brazil: 0800 047 4803 (land line) and 0800 047
4801 (cell phone)
Conference ID: 16185757
Contacts:
Headquarters (Brazil)
Saulo Passos
press@embraer.com.br
Cell: +55 11 94254 4017
Tel.: +55 12 3927 1311
Fax: +55 12 3927 2411
North America
Alyssa Ten Eyck
aeyck@embraer.com
Cell: +1 954 383 0460
Tel.: +1 954 359 3847
Fax: +1 954 359 3701
Europe, Middle East and Africa
pressEMEA@embraer.fr
Cell: +33 6 0864 3545
Tel.: +33 1 4938 4530
Fax: +33 1 4938 4456
China
Mirage Zhong
mirage.zhong@bjs.embraer.com
Cell: +86 185 1378 5180
Tel.: +86 10 6598 9988
Fax: +86 10 6598 9986
Asia Pacific
Nilma Missir-Boissac
nilma.boissac@sin.embraer.com
Cell: +65 9012 8428
Tel.: +65 6305 9955
Fax: +65 6734 3908
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/embraer-releases-4th-quarter-and-fiscal-year-2015-results-and-2016-outlook-300230091.html
SOURCE EMBRAER S.A.