SÃO PAULO, Oct. 27, 2017 /PRNewswire/ — EMBRAER S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) releases its third quarter 2017 results and 2018 outlook.
HIGHLIGHTS
- During 3Q17, Embraer delivered 25 commercial jets and 20 executive jets (13 light and 7 large);
- The Company’s firm order backlog at the end of 3Q17 was US$ 18.8 billion, representing an increase from the US$ 18.5 billion reported at the end of 2Q17;
- Consolidated revenues in 3Q17 were US$ 1,310.4 million, representing a decline of 13.5% compared to 3Q16 due to lower deliveries in the Commercial Aviation and Executive Jets segments;
- Adjusted EBIT and Adjusted EBITDA margins were 5.3% and 10.9%, respectively, in 3Q17. Adjusted EBIT and Adjusted EBITDA exclude US$ 3.6 million in net non-recurring charges in 3Q17;
- 3Q17 Net income attributable to Embraer shareholders and Earnings per ADS were US$ 110.0 million and US$ 0.60, respectively. Adjusted Net income (excluding the impact of FX-related non-cash deferred income tax and social contribution and non-recurring items) for the quarter was US$ 75.2 million, representing Adjusted Earnings per ADS of US$ 0.41;
- The Company reiterates all formal aspects of its financial and deliveries Guidance for 2017;
- Embraer expects 2018 to be a transition year due to the entry into service of the first E2 model, the E190-E2, combined with a still flattish market for Executive Jets and Defense & Security. In this transition scenario of ramp-up costs for the initial E2 deliveries, the Company releases 2018 Outlook for total revenues of US$ 5.3 to US$ 6.0 billion, with deliveries of 85 to 95 jets in Commercial Aviation and 105 to 125 jets in Executive Jets. Consolidated EBIT margin is expected to be within a range of 5.0% to 6.0%, and Guidance for Free Cash Flow is for a usage of US$ (150) million or better for 2018.
|
MAIN FINANCIAL INDICATORS (IFRS) |
||||
|
in millions of U.S dollars, except % and earnings per share data |
||||
|
2Q17 |
3Q16 |
3Q17 |
YTD17 |
|
|
Revenue |
1,769.6 |
1,514.3 |
1,310.4 |
4,106.3 |
|
EBIT |
174.0 |
(28.9) |
65.2 |
262.6 |
|
EBIT Margin % |
9.8% |
-1.9% |
5.0% |
6.4% |
|
Adjusted EBIT |
164.6 |
94.7 |
68.8 |
264.4 |
|
Adjusted EBIT Margin % |
9.3% |
6.3% |
5.3% |
6.4% |
|
EBITDA |
254.8 |
54.3 |
139.8 |
490.4 |
|
EBITDA Margin % |
14.4% |
3.6% |
10.7% |
11.9% |
|
Adjusted EBTIDA |
245.4 |
177.9 |
143.4 |
492.2 |
|
Adjusted EBTIDA Margin % |
13.9% |
11.7% |
10.9% |
12.0% |
|
Adjusted Net Income |
123.0 |
38.9 |
75.2 |
221.4 |
|
Adjusted earnings per share – ADS basic |
0.6688 |
0.2135 |
0.4089 |
1.2039 |
|
Net income (loss) attributable to Embraer Shareholders |
59.1 |
(33.7) |
110.0 |
211.6 |
|
Earnings (losses) per share – ADS basic (US$) |
0.3214 |
(0.1848) |
0.5982 |
1.1507 |
|
Net debt |
(661.5) |
(652.7) |
(722.8) |
(722.8) |
For additional information, please check the full document in our website: https://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 https://ri.embraer.com.br Follow Embraer’s IR Department on twitter: @IREmbraer
CONFERENCE CALL INFORMATION Embraer will host a conference call to present its 3Q17 Results on Friday, October 27, 2017 at 3:00PM (SP) / 1:00PM (NY). The conference call will also be broadcast live over the web at https://ri.embraer.com.br
Be the first to comment on "EMBRAER Releases Third Quarter 2017 Results and 2018 Outlook"