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Press release from PR Newswire

Embraer Releases Fourth Quarter and Fiscal Year 2013 Results and 2014 Outlook

Wednesday, February 26, 2014

Embraer Releases Fourth Quarter and Fiscal Year 2013 Results and 2014 Outlook

06:19 EST Wednesday, February 26, 2014

 

 

SAO JOSE DOS CAMPOS, Brazil, Feb. 26, 2014 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) releases its fourth quarter and fiscal year 2013 results and 2014 outlook.

HIGHLIGHTS

  • Excluding non-recurring items, the Company still met all of its main 2013 Guidance figures, including aircraft deliveries, Total Revenues, as well as EBIT and EBITDA margins;
  • In the fourth quarter of 2013 (4Q13), Embraer delivered 32 commercial and 53 executive (38 light and 15 large) jets and ended the year with total deliveries of 90 commercial and 119 executive (90 light and 29 large) aircraft;
  • As a result of aircraft deliveries and growth in the Company's Defense & Security segment, 4Q13 and 2013 Revenues reached US$ 2,304.0 million and US$ 6,235.0 million, respectively, also meeting the Company's Revenue Guidance range of US$ 5.9 to US$ 6.4 billion;
  • EBIT and EBITDA margins were 20.1% and 23.6%, respectively, in 4Q13, and for fiscal year 2013 the EBIT and EBITDA margins were 11.4% and 16.1%, respectively, considering non-recurring items in 4Q13. As a result, the Company surpassed its EBIT and EBITDA margin Guidance for the year of 9.0% to 9.5% and 13.0% to 14.0%, respectively;
  • Strong Operating Cash Flow of US$ 564.6 million during 2013 increased the Company's net cash position to US$ 429.3 million at the end of the year;
  • 4Q13 Net income attributable to Embraer Shareholders and Earnings per ADS basic totaled US$ 264.5 million and US$ 1.4513, respectively, and fiscal year 2013 Net income attributable to Embraer Shareholders and Earnings per ADS basic totaled US$ 342.0 million and US$ 1.8764, respectively;
  • For 2014, Company Guidance is for expected Net Revenues of US$ 6.0 to US$ 6.5 billion, driven by growth in the Defense & Security segment and expected deliveries of 92 to 97 jets in the Commercial Aviation segment and 25 to 30 large jets and 80 to 90 light jets in the Executive Jets segment;
  • The Company's backlog ended 2013 at a value of US$ 18.2 billion, representing 46% growth from the US$ 12.5 billion reported at the end of 2012.

MAIN FINANCIAL INDICATORS

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

IFRS

(1) 3Q13

(1) 4Q12

(1)4Q13

(2) 2012

(2) 2013

Revenue

1,288.20

1.897.6

2.304.6

6.167.0

6.235

EBIT

75.8

227.9

462.9

611.9

713.4

EBIT Margin %

5,9%

12,0%

20,1%

9,9%

11,4%

EBITDA

156.4

309.8

543.6

890.7

1.004.0

EBITDA Margin %

12,1%

16,3%

23,6%

14,4%

16,1%

Adjusted Net Income %

35.8

134.2

373,0

423.1

534.6

Net income attributable to Embraer Shareholders

52.9

123.2

264.5

347.8

342,0

Earnings per share - ADS basic (US$)

0.2905

0.6797

1.4513

1.9188

1.8764

Net Cash

(19,6)

308.7

429.3

308.7

429.3

 

(1) Derived From unaudited financial information.

(2) Derived from audited financial information.

For additional information, please check the full document in our website:

http://ri.embraer.com.br  

Investor RelationsLuciano Froes, Caio Pinez, Christopher Thornsberry, Claudio Massuda, Nadia Santos and Paulo Ferreira (+55 12) 3927-4404investor.relations@embraer.com.br http://ri.embraer.com.br

Follow Embraer's IR Department on twitter: @IREmbraer

CONFERENCE CALL INFORMATION

Embraer will host a conference call to present its 4Q13 Results on Wednesday, February 26, 2014 at 12:30pm (SP) / 10:30am (NY). The conference call will also be broadcast live over the web at http://ri.embraer.com.br

Telephones:Operator Assisted (US/ Canada) Toll-Free Dial-In Number: (877) 846-1574Operator Assisted International Dial-In Number: (708) 290-0687Your own International Toll-Free number for Brazil: 0800 047 4803 (land line) and 0800 047 4801 (cell phone)Code: 45649641

SOURCE Embraer S.A.

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