Mar 26, 2020   SOURCE: PR NewsWire

Embraer Earnings Results 4th Quarter and Fiscal Year 2019

SÃO PAULO, March 26, 2020 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its Fourth Quarter and Fiscal Year 2019 Earnings Results.

HIGHLIGHTS

    --  Embraer delivered 35 commercial jets and 46 executive jets (20 light and
        26 large) in 4Q19, and in 2019 delivered 89 commercial jets and 109
        executive jets (62 light and 47 large), meeting guidance for 2019;
    --  The Company's firm order backlog at the end of 4Q19 was US$ 16.8
        billion, an increase compared to the US$ 16.2 billion reported at the
        end of 3Q19 and US$ 16.3 billion reported at the end of 4Q18;
    --  Revenues in 4Q19 reached US$ 2,085.0 million and for fiscal year 2019
        were US$ 5,462.6 million, in line with the Company's stated 2019
        guidance for revenues of US$ 5.3 - US$ 5.7 billion;
    --  4Q19 Adjusted EBIT and Adjusted EBITDA were US$ 4.0 million and US$ 65.8
        million, respectively, yielding Adjusted EBIT margin of 0.2% and
        Adjusted EBITDA margin of 3.2%;
    --  For 2019, Adjusted EBIT and Adjusted EBITDA were US$ (5.4) million and
        US$ 181.9 million, respectively. Adjusted EBIT margin for the year was
        -0.1% and Adjusted EBITDA margin was 3.3%. Embraer's Adjusted EBIT
        margin for 2019 reached the guidance level of approximately breakeven;
    --  4Q19 Net loss attributable to Embraer shareholders and Loss per ADS were
        US$ (209.8) million and US$ (1.14) per share, respectively. Adjusted net
        loss (excluding deferred income tax and social contribution and special
        items) for 4Q19 was US$ (93.4) million, with Adjusted loss per ADS of
        US$ (0.51). Embraer's 2019 adjusted net loss was US$ (217.5) million,
        and adjusted loss per ADS was US$ (1.18);
    --  Embraer generated record free cash flow of US$ 739.4 million in 4Q19,
        finishing 2019 with adjusted free cash flow usage of US$ (181.8)
        million, within the guidance of US$ (300) million to US$ (100) million.
    --  The Company finished 2019 with strong liquidity with a total cash
        position of US$ 2,779.9 million. Embraer's 4Q19 total debt of US$
        3,392.3 million had an average maturity of almost five years, yielding a
        net debt position of US$ 612.4 million vs. US$ 1,347.2 million of net
        debt in 3Q19;
    --  Due to the uncertainty related to the impact of the spread of the
        COVID-19 virus, the Company is suspending its 2020 guidance.

MAIN FINANCIAL INDICATORS



            
              IFRS                                        
     
         3Q19  
     
       4Q18   
     
       4Q19       2018        2019

    ---


            Revenue                                                      1,175.6      1,697.6       2,085.0    5,071.1     5,462.6



            EBIT                                                          (20.8)         6.6        (67.6)      35.3      (77.0)


    EBIT margin %                                                         -1.8%        0.4%        -3.2%      0.7%      -1.4%



            Adjusted EBIT                                                 (20.8)        67.9           4.0      223.8       (5.4)


    Adjusted EBIT margin %                                                -1.8%        4.0%         0.2%      4.4%      -0.1%



            EBITDA                                                          18.2         72.2         (5.8)     285.2       110.3


    EBITDA margin %                                                        1.5%        4.3%        -0.3%      5.6%       2.0%



            Adjusted EBITDA                                                 18.2        133.5          65.8      473.7       181.9


    Adjusted EBITDA margin %                                               1.5%        7.9%         3.2%      9.3%       3.3%



            Adjusted net income (Loss)                                    (48.4)        23.0        (93.4)    (54.2)    (217.5)



            Adjusted earnings (losses) per share - ADS basic            (0.2631)      0.1253      (0.5077)  (0.2953)   (1.1822)



            Net income (loss) attributable to Embraer Shareholders        (77.2)         2.6       (209.8)   (178.2)    (322.3)



            Earnings (losses) per share - ADS basic (US$)               (0.4197)      0.0142      (1.1404)  (0.9710)   (1.7519)



            Adjusted free cash flow                                      (257.4)       426.7         739.4    (127.5)    (181.8)



            Net debt                                                   (1,347.2)     (439.9)      (612.4)   (439.9)    (612.4)

    ---

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 and Viviane Pinheiro.
(+55 11) 3040-6874
investor.relations@embraer.com.br
ri.embraer.com.br

CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 4Q19 Results on Thursday, March 26, 2020 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: +1 (412) 717-9627 / +1 (844) 204-8942
Telephones U.K.: +44 20 3795-9972
Telephones Brazil: +55 (11) 4210-1803 / +55 (11) 3181-8565

View original content:http://www.prnewswire.com/news-releases/embraer-earnings-results-4th-quarter-and-fiscal-year-2019-301030146.html

SOURCE Embraer S.A.