During 4Q17, Embraer has delivered 23 commercial and 50 executive aircraft (32 light jets and 18 large jets), for a total of 101 commercial and 109 executive aircraft (72 light and 37 large) delivered in 2017, meeting the Company’s 2017 Guidance for aircraft deliveries.

This compares with a total of 32 commercial jets and 43 executive jets (25 light and 18 large) in 4Q16 and total 2016 deliveries of 108 commercial jets and 117 executive jets (73 light and 44 large).

Consolidated revenues of US$ 1,733.0m in 4Q17 represented a 14.5% year-over-year decline, driven primarily by the lower deliveries in the Commercial Aviation segment as well as a 15.0% decrease in Defense & Security segment revenues as compared to 4Q16.

For fiscal year 2017, the Company’s consolidated revenues of US$ 5,839.3m were down 6.1% compared to the US$ 6,217.5m reported in 2016, driven largely by declines in commercial and executive jet deliveries, while Defense & Security segment revenues increased 1.9% in 2017. Embraer’s consolidated revenues met the Company’s 2017 Guidance range of US$ 5.7 – 6.1bn in revenues.

The Company’s gross margin of 20.0% in 4Q17 was stable compared to the 20.1% reported in 4Q16 despite the aforementioned decline in revenues in the quarter. For the full year, Embraer’s gross margin was 18.3% in 2017 vs. the 19.9% reported in 2016, reflecting lower executive and commercial jet deliveries and negative cost base revisions on certain Defense & Security contracts.

EBIT and EBIT margin as reported in 4Q17 were US$ 66.7m and 3.8%, respectively, down from EBIT of US$ 276.6m and EBIT margin of 13.6% in 4Q16. For the full year, EBIT as reported in 2017 was US$ 329.3m as compared to US$ 206.0m in 2016, yielding as reported EBIT margins of 5.6% and 3.3%, respectively.

Net income attributable to Embraer shareholders and Earnings per ADS for 4Q17 were US$ 35.2m and US$ 0.19 per share, respectively, bringing total 2017 net income attributable to Embraer shareholders and earnings per ADS to US$ 246.8m and US$ 1.34 per share, respectively.

Adjusted net cash generated by operating activities net of adjustments for financial investments (and excluding cash payments for special items) was US$ 608.1 million in 4Q17 and adjusted free cash flow for the quarter was US$ 406.7m. This compares to adjusted net cash generated by operating activities net of financial investments of US$ 497.5m and adjusted free cash flow of US$ 285.0m in 4Q16. In 2017, adjusted free cash flow was US$ 404.8m, compared to adjusted free cash flow of US$ (359.2)m in 2016 and the Company’s guidance for 2017 of a usage of US$ 150m or better.