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EMBRAER Releases Third Quarter 2017 Results and 2018 Outlook

Boeing to Retain ICBM Guidance Systems Support ContractBoeing to Retain ICBM Guidance Systems Support Contract through 2039

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

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