SÃO PAULO, Aug. 14, 2019
/PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases
its Second Quarter 2019 Earnings Results.
HIGHLIGHTS
- Embraer delivered 26 commercial and 25 executive (19 light and
6 large) jets during 2Q19, compared to 28 commercial jets and 20
executive (15 light and 5 large) jets in 2Q18;
- The Company's firm order backlog at the end of 2Q19 was
US$ 16.9 billion, up from the
US$ 16.0 billion reported at the end
of 1Q19. Embraer achieved book-to-bills of above 1x in each of its
major business units during the quarter, led by sales performance
in the Executive Jets segment;
- EBIT and EBITDA in 2Q19 were US$ 26.6
million and US$ 67.0 million,
respectively, yielding EBIT margin of 1.9% and EBITDA margin of
4.9%. In the first six months of 2019 the Company's EBIT was
US$ 11.4 million (EBIT margin of
0.5%) and EBITDA was US$ 97.9 million
(EBITDA margin of 4.4%);
- 2Q19 Net income attributable to Embraer shareholders and
Earnings per ADS were US$ 7.2 million
and US$ 0.04, respectively. Adjusted
net loss (excluding deferred income tax and social contribution)
for 2Q19 was US$ (13.9) million, with
Adjusted loss per ADS of US$ (0.08).
Embraer reported adjusted net loss in 2Q18 of US$ (0.4) million, for an adjusted loss per ADS
of US$ (0.002) in the quarter;
- Embraer reported 2Q19 Free cash flow of US$ 1.5 million, versus free cash flow of
US$ 43.3 million reported in 2Q18.
The Company expects free cash flow generation to improve in the
second half of the year given higher expected aircraft deliveries
and cash inflows related to Defense & Security contracts;
- The Company finished the quarter with total cash of
US$ 2,478.8 million and total debt of
US$ 3,569.1 million, yielding a net
debt position of US$ 1,090.3 million
at the end of 2Q19;
- The Company reaffirms all aspects of its 2019 financial and
deliveries guidance.
MAIN FINANCIAL INDICATORS
IFRS (in millions
of U.S dollars, except % and earnings per share
data)
|
1Q19
|
2Q18*
|
2Q19
|
YTD19
|
Revenue
|
823.3
|
1,253.9
|
1,378.7
|
2,202.0
|
EBIT
|
(15.2)
|
(20.3)
|
26.6
|
11.4
|
EBIT margin
%
|
-1.8%
|
-1.6%
|
1.9%
|
0.5%
|
Adjusted
EBIT
|
(15.2)
|
106.9
|
26.6
|
11.4
|
Adjusted EBIT margin
%
|
-1.8%
|
8.5%
|
1.9%
|
0.5%
|
EBITDA
|
30.9
|
41.5
|
67.0
|
97.9
|
EBITDA margin
%
|
3.8%
|
3.3%
|
4.9%
|
4.4%
|
Adjusted
EBITDA
|
30.9
|
168.7
|
67.0
|
97.9
|
Adjusted EBITDA
margin %
|
3.8%
|
13.5%
|
4.9%
|
4.4%
|
Adjusted net income
(Loss)
|
(61.8)
|
(0.4)
|
(13.9)
|
(75.7)
|
Adjusted earnings
(losses) per share - ADS basic
|
(0.3360)
|
(0.0022)
|
(0.0756)
|
(0.4115)
|
Net income (loss)
attributable to Embraer Shareholders
|
(42.5)
|
(131.4)
|
7.2
|
(35.3)
|
Earnings (losses) per
share - ADS basic (US$)
|
(0.2311)
|
(0.7167)
|
0.0391
|
(0.1919)
|
Adjusted free cash
flow
|
(665.3)
|
43.3
|
1.5
|
(663.8)
|
Net debt
|
(1,103.7)
|
(729.2)
|
(1,090.3)
|
(1,090.3)
|
For additional information, please check the full document on
our website ri.embraer.com.br
Investor Relations
Eduardo Couto, Chris Thornsberry, Caio Pinez, Nádia Santos,
Paulo Ferreira and Viviane Pinheiro.
(+55 12) 3927 1000
investor.relations@embraer.com.br
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 2Q19 Results on
Wednesday, August 14, 2019 at
10:30 AM (SP) / 9:30 AM (NY). The conference call will also
be broadcast live over the web at ri.embraer.com.br
Conference ID: EMBRAER
Telephones USA / Canada: (Toll-free) +1 (844) 204-8942 /
(Dial-in) +1 (412) 717-9627
Telephones U.K.: (Toll-free) 0-808-111-0152 / (Dial-in) +44 20
7442-5660
Telephones Brazil: +55 (11)
3193-1070 / +55 (11) 2820-4070
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SOURCE Embraer S.A.