Embraer Earnings Results 2nd Quarter 2019

SÃO PAULO, Aug. 14, 2019 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its Second Quarter 2019 Earnings Results.

HIGHLIGHTS

    --  Embraer delivered 26 commercial and 25 executive (19 light and 6 large)
        jets during 2Q19, compared to 28 commercial jets and 20 executive (15
        light and 5 large) jets in 2Q18;
    --  The Company's firm order backlog at the end of 2Q19 was US$ 16.9
        billion, up from the US$ 16.0 billion reported at the end of 1Q19.
        Embraer achieved book-to-bills of above 1x in each of its major business
        units during the quarter, led by sales performance in the Executive Jets
        segment;
    --  EBIT and EBITDA in 2Q19 were US$ 26.6 million and US$ 67.0 million,
        respectively, yielding EBIT margin of 1.9% and EBITDA margin of 4.9%. In
        the first six months of 2019 the Company's EBIT was US$ 11.4 million
        (EBIT margin of 0.5%) and EBITDA was US$ 97.9 million (EBITDA margin of
        4.4%);
    --  2Q19 Net income attributable to Embraer shareholders and Earnings per
        ADS were US$ 7.2 million and US$ 0.04, respectively. Adjusted net loss
        (excluding deferred income tax and social contribution) for 2Q19 was US$
        (13.9) million, with Adjusted loss per ADS of US$ (0.08). Embraer
        reported adjusted net loss in 2Q18 of US$ (0.4) million, for an adjusted
        loss per ADS of US$ (0.002) in the quarter;
    --  Embraer reported 2Q19 Free cash flow of US$ 1.5 million, versus free
        cash flow of US$ 43.3 million reported in 2Q18. The Company expects free
        cash flow generation to improve in the second half of the year given
        higher expected aircraft deliveries and cash inflows related to Defense
        & Security contracts;
    --  The Company finished the quarter with total cash of US$ 2,478.8 million
        and total debt of US$ 3,569.1 million, yielding a net debt position of
        US$ 1,090.3 million at the end of 2Q19;
    --  The Company reaffirms all aspects of its 2019 financial and deliveries
        guidance.

MAIN FINANCIAL INDICATORS



            
              IFRS (in millions of U.S dollars, except % and earnings per share data) 
     
      1Q19     
     
     2Q18*       
     
      2Q19       
     
     YTD19

    ---


            Revenue                                                                                    823.3         1,253.9         1,378.7           2,202.0



            EBIT                                                                                      (15.2)         (20.3)           26.6              11.4


    EBIT margin %                                                                                     -1.8%          -1.6%           1.9%             0.5%



            Adjusted EBIT                                                                             (15.2)          106.9            26.6              11.4


    Adjusted EBIT margin %                                                                            -1.8%           8.5%           1.9%             0.5%



            EBITDA                                                                                      30.9            41.5            67.0              97.9


    EBITDA margin %                                                                                    3.8%           3.3%           4.9%             4.4%



            Adjusted EBITDA                                                                             30.9           168.7            67.0              97.9


    Adjusted EBITDA margin %                                                                           3.8%          13.5%           4.9%             4.4%



            Adjusted net income (Loss)                                                                (61.8)          (0.4)         (13.9)           (75.7)



            Adjusted earnings (losses) per share - ADS basic                                        (0.3360)       (0.0022)       (0.0756)         (0.4115)



            Net income (loss) attributable to Embraer Shareholders                                    (42.5)        (131.4)            7.2            (35.3)



            Earnings (losses) per share - ADS basic (US$)                                           (0.2311)       (0.7167)         0.0391          (0.1919)



            Adjusted free cash flow                                                                  (665.3)           43.3             1.5           (663.8)



            Net debt                                                                               (1,103.7)        (729.2)      (1,090.3)        (1,090.3)

    ---

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 2Q19 Results on Wednesday, August 14, 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) 3193-1070 / +55 (11) 2820-4070

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SOURCE Embraer S.A.