2002* 2002 farnborough air show financial results in us gaap
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Financial Results
US GAAP
Antonio Luiz MansoAntonio Luiz Manso
Chief Financial OfficerChief Financial Officer
July 24, 2002July 24, 2002
20% European Group
Dassault Aviation 5.67% Thomson CSF 5.67% EADS 5.67% Snecma 3.00%
60 % Controlling Shareholders Cia Bozano 20 %
SISTEL 20 %
PREVI 20 %
18.55 % Others
1.45 %Brazilian Government
242,544,448 Common Shares34.10%
Capital Structure – ON
Capital Structure Capital Structure -- PNPN
NYSE41%
Bovespa19%
Cia. Bozano11% Previ
13%
BNDESPar13%
Sistel3%
468,800,645 Preferred Shares
65.90%
Units
Jet Deliveries
4
32
60
96
160 161
135145
0
40
80
120
160
200
1996 1997 1998 1999 2000 2001 2002E 2003E
Units
Jet Deliveries - Quarterly
42 44 4134
30 30
0
20
40
60
1Q01 2Q01 3Q01 4Q01 1Q02 2Q02
US$23.8 billion in total orders,
including US$ 10.1 billion in firm orders
Backlog
$ 3 , 0$ 6 , 4
$11 ,4 $10 ,7 $10 ,3 $10 ,1
$11 ,3
$12 ,7 $12 ,7 $12 ,8 $13 ,7
$ 1 , 2 $ 4 , 1$0,0
$5,0
$10,0
$15,0
$20,0
$25,0
$30,0
1996 2000199919981997 2001 1Q02 2Q02
US$ Million
Net Sales & Gross Margin
7641.354
1.837
743 557
2.762 2.92727% 28%
31%
38%40%39%
31%
0
2.000
4.000
6.000
1997 1998 1999 2000 2001 1Q01 1Q02
0%
10%
20%
30%
40%
50%
Brazi l ian M a r k e t
2%
Exports 98%
P a r t s & Serv ices
6%
Defense 6%
C o m m e r c i a l88%
Sales per Segment Sales per Market
Revenue Breakdown
US$ Million
EBIT
49172
368
17797
462
651
6%
13%
20%
24%
17%17%
22%
0
400
800
1.200
1.600
1997 1998 1999 2000 2001 1Q01 1Q02
0%
10%
20%
30%
EBITDA
US$ Million
71193
393493
698
186 109
9%
14%
21%19%
25%24%
18%
0
400
800
1.200
1.600
1997 1998 1999 2000 2001 1Q01 1Q02
0%
10%
20%
30%
Net Income
US$ Million
3
145
235
321 328
91 68
12%12%13%
11% 11%12%
0.4%
0
200
400
600
1997 1998 1999 2000 2001 1Q01 1Q020%
3%
6%
9%
12%
15%
Total Debt US$ 594.9 million
Brazilian currency 7%
Foreign currency93%
Long Term39%
Short Term61%
Debt Breakdown
Net Cash (Debt)
US$ Million
(249)(415) (333)
733
38(22)
(800)
(400)
0
400
800
1.200
1997 1998 1999 2000 2001 1Q02
US$ Million
Accounts Receivables
311
183
633
738
0
200
400
600
800
1000
1999 2000 2001 1Q02
US$ Million
Inventories
767
603
1,001 1,015
0
200
400
600
800
1.000
1.200
1999 2000 2001 1Q02
Receivables & Inventories
Actions have been taken and the expectations for the accounts receivables and inventories are:
842
1,022 987 948
535 495636
54202 177
94 97
3Q01 4Q01 1Q02 2Q02E
Inventories Receivables (Aircraft) Receivables (Spare Parts & Others)
Note: In accordance with the corporate law
US$ Million
InvestmentsInvestments
60
114144
3641
114
70
19
0
50
100
150
200
1999 2000 2001 1Q02
R&D PP&E
US$ 1.3 Billion Investments in the Next 5 Years
Investments
1,283227224239262331TOTAL
34951505971118PP&E
365
27
501
41
27
2
139
8
34
2
130
8
61
2
109
8
105
6
72
8
138
15
51
9
Comercial
Corporate
Defense
Others
934176174180191213Research &Development
2002-200620062005200420032002US$ millions