Embraer Releases First Quarter 2016 Results

embraer-q1-results

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In the first quarter of 2016 (1Q16), Embraer delivered 21 commercial and 23 executive (12 light and 11 large) jets, representing an increase of 38% in total deliveries compared to 1Q15.

– The Company’s firm order backlog ended the quarter at US$ 21.9 billion, compared to US$ 20.4 billion at the end of 1Q15 and $22.5 billion in backlog at the end of 2015;

– As a result of higher aircraft deliveries in both the Commercial Aviation and Executive Jets segments, 1Q16 revenues were US$ 1,309.0 million, an increase of 24% compared to 1Q15;

– EBIT and EBITDA1 margins were 6.5% and 12.8%, respectively, in 1Q16 (compared to 7.5% and 14.1% in 1Q15), and EBIT and EBITDA for the quarter were US$ 85.7 million and US$ 167.6 million, respectively (versus US$ 79.6 million and US$ 149.1 million in 1Q15);

– 1Q16 Net income attributable to Embraer Shareholders and Earnings per basic ADS totaled US$ 103.9 million and US$ 0.5690, respectively;

– Adjusted Net Loss, which excludes non-cash deferred income taxes and social contribution largely related to the impact of foreign exchange variation on non-monetary assets, was a loss of US$ (1.7) million in 1Q16;

– Embraer ended 1Q16 with a total cash position of US$ 3,443.3 million and total debt of US$ 3,663.2 million, yielding a net debt position of US$ 219.9 million in the quarter;

– The Company reiterates all aspects of its financial and delivery outlook for 2016.

Source: Embraer Press Release

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