Embraer Earnings Results 1st Quarter 2019

SÃO PAULO, May 15, 2019 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its First Quarter 2019 Earnings Results.

HIGHLIGHTS

    --  Embraer delivered 11 commercial jets and 11 executive jets (8 light / 3
        large) in 1Q19;
    --  The Company's firm order backlog at the end of 1Q19 was US$ 16 billion
        considering all deliveries as well as firm orders obtained during the
        period;
    --  EBIT and EBITDA in 1Q19 were US$ (15.2) million and US$ 30.9 million,
        respectively, yielding EBIT margin of -1.8% and EBITDA margin of 3.8%.
        This compares to EBIT of US$ (5.3) million (-0.6% EBIT margin) and
        EBITDA of US$ 57.8 million (6.0% EBITDA margin) in 1Q18;
    --  1Q19 Net loss attributable to Embraer shareholders and Loss per ADS were
        US$ (42.5) million and US$ (0.23), respectively. Adjusted net loss
        (excluding deferred income tax and social contribution) for 1Q19 was US$
        (61.8) million, with Adjusted loss per ADS of US$ (0.34). Embraer
        reported adjusted net loss in 1Q18 of US$ (60.5) million, for an
        adjusted loss per ADS of US$ (0.33) in the quarter;
    --  Embraer reported Free cash flow of US$ (665.3) million in 1Q19, compared
        to free cash flow of US$ (435.2) million reported in 1Q18. The Company
        finished the quarter with total cash of US$ 2,483.4 million and total
        debt of US$ 3,587.1 million, yielding a net debt position of US$ 1,103.7
        million versus net debt of US$ 439.9 million at the end of 2018;
    --  The Company's shareholders approved the proposed strategic partnership
        between Boeing and Embraer during an Extraordinary General Shareholders'
        Meeting on February 26, 2019. At the meeting, 96.8% of all valid votes
        were in favor of the transaction, with participation of roughly 67% of
        all outstanding shares;
    --  The closing of the transaction between Boeing and Embraer remains
        subject to obtaining regulatory approvals and the satisfaction of other
        customary closing conditions, expected by the end of 2019;
    --  The Company reaffirms all aspects of its 2019 financial and deliveries
        guidance.

MAIN FINANCIAL INDICATORS

                                                                                   
       in millions of U.S. dollars, except % and earnings per share data


                                                   
            
           IFRS 
     
     1Q18       
            
              4Q18             
            
              1Q19



            Revenue                                                             960.3                         1,697.6                                 823.3



            EBIT                                                                (5.3)                            6.6                                (15.2)


    EBIT margin %                                                              -0.6%                           0.4%                                -1.8%



            Adjusted EBIT                                                       (5.3)                           67.9                                (15.2)


    Adjusted EBIT margin %                                                     -0.6%                           4.0%                                -1.8%



            EBITDA                                                               57.8                            72.2                                  30.9


    EBITDA margin %                                                             6.0%                           4.3%                                 3.8%



            Adjusted EBITDA                                                      57.8                           133.5                                  30.9


    Adjusted EBITDA margin %                                                    6.0%                           7.9%                                 3.8%



            Adjusted net income (Loss)                                         (60.5)                           23.2                                (61.8)



            Adjusted earnings (losses) per share - ADS basic                 (0.3300)                         0.1264                              (0.3360)



            Net income (loss) attributable to Embraer Shareholders             (37.0)                            2.8                                (42.5)



            Earnings (losses) per share - ADS basic (US$)                    (0.2020)                         0.0154                              (0.2311)



            Adjusted free cash flow                                           (435.2)                          426.2                               (665.3)



            Net debt                                                          (762.7)                        (439.9)                            (1,103.7)

    ---

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 1Q19 Results on Wednesday, May 15, 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) 3193-1001 / +55 (11) 2820-4001

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SOURCE Embraer S.A.