2 nd QUARTER 2014 EARNINGS RESULTS

Transcription

1 2 nd QUARTER 2014 EARNINGS RESULTS JULY 31, 2014

2 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 forwardlooking 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 forwardlooking 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 forwardlooking events and circumstances discussed in this presentation might not occur. Our actual results could differ substantially from those anticipated in our forward-looking statements

3 BUSINESS HIGHLIGHTS AURIGNY AIR SERVICES ICBC LEASING TIANJIN AIRLINES DELIVERY OF 29 E-JETS IN 2Q14. EMBRAER E-JETS TO BEGIN FLYING WITH TURKISH OPERATOR BORAJET. ROYAL AIR MAROC ADDED FOUR E190 AS PART OF ITS FLEET UPGRADE. AURIGNY AIR SERVICES FROM GUERNSEY, CHANNEL ISLANDS, STARTED OPERATION WITH THE E195. CHINA S ICBC LEASING SIGNED PURCHASE AGREEMENT FOR UP TO 20 E190-E2. CHINA'S HNA GROUP TIANJIN AIRLINES PURCHASED 20 E-JETS AND 20 E-JETS E2. 3

4 BUSINESS HIGHLIGHTS AZUL LINHAS AÉREAS BRASILEIRAS FUJI DREAM AIRLINES AZERBAIJAN AIRLINES - AZAL EMBRAER AND TRANS STATES SIGNED A DEAL FOR UP TO 100 E175-E2. BRAZIL'S AZUL SIGNED LOI FOR 30 E195-E2 JETS PLUS 20 OPTIONS. FUJI DREAM AIRLINES PLACED AN ORDER FOR THREE E-JETS E175 PLUS THREE OPTIONS, ADDING TO ITS ALL-EMBRAER FLEET. AZAL PLACED AN ORDER FOR TWO ADDITIONAL E190. E-JETS E2 PROGRAM ORDERS ANNOUNCED TO DATE, INCLUDING 210 FIRM. 4

5 BUSINESS HIGHLIGHTS STEEP-APPROACH IN LONDON CITY DELIVERY OF 29 EXECUTIVE JETS IN 2Q14 (22 LIGHT JETS AND 7 LARGE JETS). EMBRAER EXECUTIVE JETS DELIVERED THE 500 TH PHENOM FAMILY JET. PHENOM 100E AND PHENOM 300 JETS WERE AGAIN ELECTED BY ROBB REPORT AS BEST OF THE BEST IN THEIR CATEGORIES. PHENOM 300 RECEIVED CERTIFICATION FROM EASA FOR STEEP-APPROACH OPERATION. 5

6 BUSINESS HIGHLIGHTS KC-390 FINAL ASSEMBLY HANGAR GRIPEN NG FX-2 EMB-121 XINGU EMBRAER OPENED THE FINAL ASSEMBLY HANGAR FOR THE KC-390 AND SIGNED A CONTRACT FOR 28 AIRCRAFT WITH THE BRAZILIAN AIR FORCE. EMBRAER SIGNED A MOU WITH SAAB FOR BRAZIL S F-X2 PROJECT. EMB-121 XINGU REACHED 30 YEARS OF OPERATIONS WITH THE FRENCH AIR FORCE AND FRENCH NAVY. ATECH WON TWO COMPETITIONS: SUPPLY OF C4I SYSTEMS TO THE FEDERAL POLICE AND ALSO FOR THE AIR-TRAFFIC MANAGEMENT SYSTEM IN INDIA. VISIONA CONCLUDED PRELIMINARY DESIGN REVIEW IN THE SGDC PROJECT AND NEXT PHASE WAS APPROVED BY TELEBRAS AND THE MINISTRY OF DEFENSE. 6

7 BUSINESS HIGHLIGHTS EMBRAER AND PETROBRAS SIGNED A MOU TO ASSESS THE RELIABILITY OF CRITICAL SYSTEMS OF THE OIL AND GAS INDUSTRY. EMBRAER AND BOEING SIGNED A MOU FOR IMPLEMENTING A SUSTAINABLE BIOFUELS R&D CENTER IN BRAZIL. 7

8 FINANCIAL RESULTS

9 FIRM ORDER BACKLOG US$ BILLION

10 AIRCRAFT DELIVERIES DELIVERIES ESTIMATES E-JETS EXECUTIVE LARGE JETS EXECUTIVE LIGHT JETS LIGHT JETS - PHENOM LARGE JETS - LEGACY & LINEAGE 10

11 NET REVENUES BY SEGMENT 2014 OUTLOOK US$ BILLION US$ BILLION 1,557 1,288 2,304 1,242 1, , US$ BILLION US$ BILLION

12 NET REVENUES US$ MILLION YTD: 3,004 R$ MILLION YTD: 6,857 2,304 5,296 1,557 1,288 1,242 1,761 3,240 2,944 2,929 3, OUTLOOK: US$ BILLION 12

13 SG&A EXPENSES US$ MILLION YTD: 308 R$ MILLION YTD: G&A EXPENSES SELLING EXPENSES 13

14 INCOME FROM OPERATIONS (EBIT) US$ MILLION YTD: % R$ MILLION YTD: % 20.1% 20.2% 8.7% 5.9% 7.4% 10.6% 8.8% 5.9% 7.4% 10.6% 463 1, EBIT EBIT MARGIN 2014 OUTLOOK: EBIT: US$ MILLION EBIT MARGIN: 9.0% 9.5% 14

15 EBITDA US$ MILLION YTD: % R$ MILLION YTD: % 23.6% 23.7% 13.1% 12.1% 12.2% 14.8% 13.2% 12.2% 12.1% 14.8% 544 1, EBITDA EBITDA MARGIN 2014 OUTLOOK: EBITDA: US$ MILLION EBITDA MARGIN: 13.0% 14.0% 15

16 NET INCOME US$ MILLION YTD: % R$ MILLION YTD: % 11.5% 11.5% 8.9% 8.1% 8.8% 8.1% 4.1% 4.0% -0.3% -0.3% (5) (10) NET INCOME NET MARGIN 16

17 INVENTORIES US$ MILLION 2,523 2,780 2,287 2,542 2,439 17

18 FREE CASH FLOW US$ MILLION YTD: (554) (125) (106) (60) (84) (156) (273) (103) (60) (80) (109) (48) (83) (404) (150) 2014 YTD NET CASH GENERATED (USED) BY OPERATING ACTIVITIES* (273) 13 (260) ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT (125) (106) (156) (48) (60) (108) ADDITIONS TO INTANGIBLE ASSETS (60) (80) (109) (83) (103) (186) FREE CASH FLOW 2 (84) 496 (404) (150) (554) * Net of Financial assets adjustment 18

19 INVESTMENTS US$ MILLION YTD: RESEARCH DEVELOPMENT CAPEX 2014 YTD 2014 OUTLOOK 2014 OUTLOOK: US$ 650 MILLION 19

20 INDEBTEDNESS PROFILE NET CASH INDEBTEDNESS MATURITY NET CASH (DEBT) - US$ MILLION 6% 4% 4% 4% 4% % 96% 96% 96% 96% (20) 53 (114) LONG-TERM SHORT-TERM LOANS AVERAGE MATURITY (YEARS) TOTAL DEBT 2Q14: US$ 2.41 BILLION TOTAL CASH 2Q14: US$ 2.30 BILLION 20

21 INVESTOR RELATIONS PHONE: