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FIRST QUARTER 2012FIRST QUARTER 2012
RESULTSRESULTS
April 27, 2012 April 27, 2012
This information is the property of Embraer and cannot be used or reproduced without written consent.
Forward Looking Statement
This presentation includes forward-looking statements or statements about events or
circumstances which have not occurred. We have based these forward-looking statements
largely on our current expectations and projections about future events and financial trends
affecting our business and our future financial performance. These forward-looking
statements are subject to risks, uncertainties and assumptions, including, among other things:
general economic, political and business conditions, both in Brazil and in our market. The
words “believes,” “may,” “will,” “estimates,” “continues,” “anticipates,” “intends,” “expects” and
similar words are intended to identify forward-looking statements. We undertake no
obligations to update publicly or revise any forward-looking statements because of new
information, future events or other factors. In light of these risks and uncertainties, the
forward-looking events and circumstances discussed in this presentation might not occur. Our
actual results could differ substantially from those anticipated in our forward-looking
statements.
2
This information is the property of Embraer and cannot be used or reproduced without written consent.
• Delivery of 21 and sale of 12 E-Jets in 1Q12 (ten E195s
to Azul, one E190 to BA CityFlyer, and one E170 to JAL).
• Delivery of 21 and sale of 12 E-Jets in 1Q12 (ten E195s
to Azul, one E190 to BA CityFlyer, and one E170 to JAL).
3
• E-Jets customer base expansion with two new operators:
Bulgaria Air and Estonian Air.
• E-Jets customer base expansion with two new operators:
Bulgaria Air and Estonian Air.
• E-Jets orders rose to 1,063, with 60 companies in
42 countries.
• E-Jets orders rose to 1,063, with 60 companies in
42 countries.
Highlights
This information is the property of Embraer and cannot be used or reproduced without written consent.
4
• Delivery of 13 executive jets in 1Q12 (12 light jets and one large jet). • Delivery of 13 executive jets in 1Q12 (12 light jets and one large jet).
Highlights
• Delivery of the 300th Phenom and 100th executive jet in Brazil.• Delivery of the 300th Phenom and 100th executive jet in Brazil.
• Sale of three ultra-large Lineage 1000 jets to Minsheng of China.• Sale of three ultra-large Lineage 1000 jets to Minsheng of China.
• Continuous expansion of global support network
in strategic places to better serve our clients.
• Continuous expansion of global support network
in strategic places to better serve our clients.
• Legacy 500 first engine run and ground tests start.• Legacy 500 first engine run and ground tests start.
This information is the property of Embraer and cannot be used or reproduced without written consent.
5
• Defense and security revenues went up to 20% of total revenues.• Defense and security revenues went up to 20% of total revenues.
Highlights
• AEW India program: second aircraft performed its
maiden flight.
• AEW India program: second aircraft performed its
maiden flight.
• Three African nations were disclosed as Super Tucano
customers: Burkina Faso, Angola and Mauritania. Total
contract: US$ 180 million.
• Three African nations were disclosed as Super Tucano
customers: Burkina Faso, Angola and Mauritania. Total
contract: US$ 180 million.
• Embraer Defense and Security increased to 65% its stake in OGMA.• Embraer Defense and Security increased to 65% its stake in OGMA.
This information is the property of Embraer and cannot be used or reproduced without written consent.
2 3 1
20
40
12
110
17
6
1Q11 2Q11 3Q11 4Q11 1Q12
2025
2832
21
1Q11 2Q11 3Q11 4Q11 1Q12
Large Jets - Legacy & LineageLarge Jets - Legacy & Lineage
Aircraft Deliveries
Light Jets - PhenomLight Jets - Phenom
Commercial JetsCommercial Jets Executive JetsExecutive Jets
6
2012 deliveries estimates • 105 - 110 commercial jets• 15 - 20 executive large jets• 75 - 85 executive light jets
2012 deliveries estimates • 105 - 110 commercial jets• 15 - 20 executive large jets• 75 - 85 executive light jets
This information is the property of Embraer and cannot be used or reproduced without written consent.
14.818.8
20.916.6 15.6 15.4 14.7
2006 2007 2008 2009 2010 2011 1Q2012
Firm Backlog
US$ Billion
7
This information is the property of Embraer and cannot be used or reproduced without written consent.
8
Revenues by Segment
Commercial aviationCommercial aviation Executive aviationExecutive aviation OthersOthersDefense and securityDefense and security
Net Revenues US$ Billion 1.361.361.061.06 1.361.36 2.032.03 1.161.16
This information is the property of Embraer and cannot be used or reproduced without written consent.
1,0561,359 1,364
2,025
1,156
24.3%
22.4%21.2%
22.5% 23.2%
1Q11 2Q11 3Q11 4Q11 1Q12
9
Net Revenues and Gross Margin
IFRS - US$ Million IFRS - R$ Million
Net RevenuesNet Revenues Gross MarginGross Margin
2012 Outlook: Net Revenues2012 Outlook: Net Revenues US$ 5.8 – 6.2 billionUS$ 5.8 – 6.2 billion
1,7572,169 2,266
3,667
2,049
24.3%22.4% 21.2%
22.5% 23.2%
1Q11 2Q11 3Q11 4Q11 1Q12
This information is the property of Embraer and cannot be used or reproduced without written consent.
94109 103 114
57
64 6972 71
109
1Q11 2Q11 3Q11 4Q11 1Q12
157 174 167205
95103 113
129126
192
1Q11 2Q11 3Q11 4Q11 1Q12
10
SG&A Expenses
280280
334334
172172186186
151151
173173
252252277277
IFRS - US$ Million
Selling ExpensesSelling ExpensesG&A ExpensesG&A Expenses
180180 318318
IFRS - R$ Million
This information is the property of Embraer and cannot be used or reproduced without written consent.
11
Income from Operations
IFRS - US$ Million IFRS - R$ Million
EBITEBIT EBIT MarginEBIT Margin
2012 Outlook: EBIT Margin2012 Outlook: EBIT Margin 8.0% – 8.5%8.0% – 8.5%
106124
(6)
8694
7.4%
-0.3%
9.1%7.8%
8.9%
1Q11 2Q11 3Q11 4Q11 1Q12
169212
(15)
157 153
8.9%7.8%
9.4%
-0.4%
7.5%
1Q11 2Q11 3Q11 4Q11 1Q12
This information is the property of Embraer and cannot be used or reproduced without written consent.
12
EBITDA
IFRS - US$ Million IFRS - R$ Million
EBITDAEBITDA EBITDA MarginEBITDA Margin
2012 Outlook: EBITDA Margin2012 Outlook: EBITDA Margin 11.5% – 12.5%11.5% – 12.5%
156 153188
59
148
14.8%
11.3%
13.8%
2.9%
12.8%
1Q11 2Q11 3Q11 4Q11 1Q12
260 250311
101
264
14.8%
11.5%13.7%
2.8%
12.9%
1Q11 2Q11 3Q11 4Q11 1Q12
This information is the property of Embraer and cannot be used or reproduced without written consent.
13
Net MarginNet Margin
Net Income
Net IncomeNet Income
IFRS - US$ Million IFRS - R$ Million
105 96
2
-92
63
10.0%7.1%
0.1%
-4.5%
5.4%
1Q11 2Q11 3Q11 4Q11 1Q12
174 154
0
(172)
111
9.9%7.1%
0.0%
-4.7%
5.4%
1Q11 2Q11 3Q11 4Q11 1Q12
This information is the property of Embraer and cannot be used or reproduced without written consent.
14
Inventories / Free Cash Flow
Free Cash Flow - US$ MillionInventories - US$ Million
2,5612,697
2,872
2,288
2,652
1Q11 2Q11 3Q11 4Q11 1Q12
(126)
(38)
(112)
277
(174)
1Q11 2Q11 3Q11 4Q11 1Q12
This information is the property of Embraer and cannot be used or reproduced without written consent.
US$ 2.0 BillionUS$ 2.0 Billion
15
Indebtedness Profile Net Cash
Long-termLong-term Short-termShort-term
Loans Average Maturity (Years)Loans Average Maturity (Years)
Indebtedness Maturity Net Cash - US$ Million
Total Debt 1Q12Total Debt 1Q12 Total Cash 1Q12Total Cash 1Q12 US$ 2.3 BillionUS$ 2.3 Billion
505406
193
446
302
1Q11 2Q11 3Q11 4Q11 1Q12
74%85%
10% 13%
90%87% 74%
26%15%
27%
5.75.0
4.54.8
4.2
1Q11 2Q11 3Q11 4Q11 1Q12
This information is the property of Embraer and cannot be used or reproduced without written consent.
Investor Relations
Phone: +55 12 3927 4404investor.relations@embraer.com.br
www.embraer.com
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