embraer february 2016 book ri
TRANSCRIPT
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JANUARY 2016 +55 12 3927 4404 | [email protected] | www.embraer.com.br FEBRUARY 2016
This information is property of Embraer and can not be used or reproduced without written permission.
CORPORATE AND BUSINESS STRATEGY
• ORGANIC GROWTH
• MARGINS ENHANCEMENT THROUGH THE P3E
• BUSINESS AND REVENUES DIVERSIFICATION
• ORGANIC GROWTH AND ACQUISITIONS • ESTABLISH EMBRAER AS THE DEFENSE HOUSE OF BRAZIL
• PRODUCT STRATEGY • DIVERSIFICATION AND EXPANSION OF CUSTOMER BASE • EXCELLENCE IN CUSTOMER EXPERIENCE (ECE)
• MARKET SHARE GROWTH • MARGINS IMPROVEMENT • PRODUCT STRATEGY AND CUSTOMER SUPPORT FOCUS
2
This information is property of Embraer and can not be used or reproduced without written permission.
15.412.4
18.220.9
22.5
2011 2012 2013 2014 2015
FIRM ORDER BACKLOG
US$ BILLION
3
This information is property of Embraer and can not be used or reproduced without written permission.
16 22 29 2438
83 77
90 9282
2011 2012 2013 2014 2015
105 10690 92
101
2011 2012 2013 2014 2015
LARGE JETS - LEGACY & LINEAGE LIGHT JETS - PHENOM
AIRCRAFT DELIVERIES
95 - 100 E-JETS 35 - 40 EXECUTIVE LARGE JETS 80 - 90 EXECUTIVE LIGHT JETS
2015 OUTLOOK:
4
99 99
120 116 119
This information is property of Embraer and can not be used or reproduced without written permission.
5,791 6,167 6,235 6,289
2011 2012 2013 2014 2015*
NET REVENUES
US$ MILLION 5,800-6,300
54%
15%
2%
* 2015 OUTLOOK: US$ 5.8 – 6.3 BILLION
29%
OTHERS
5
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24% 29%
48%
31% 22%
14%
14% 21%
21%3%8%
3%14%
6%4%5% 9% 4%
9% 5% 6%
2012 2013 2014
61%53% 50%
21%27%
26%
17% 19% 23%
1% 1% 1%
2012 2013 2014
NET REVENUES BREAKDOWN
SEGMENT REGION
OTHERS
Net Revenues US$ Billion
6.17 6.24 6.29 Net Revenues US$ Billion
6.17 6.24 6.29
NORTH AMERICA BRAZIL
EUROPE
ASIA PACIFIC
SOUTH & CENTRAL
AMERICA AFRICA &
MIDDLE EAST
CHINA
6
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BOARD OF EXECUTIVE OFFICERS
ETHICS COMMITTEE
FINANCIAL MANAGEMENT COMMITTEE
SUSTAINABILITY COMMITTEE
S H A R E H O L D E R S
FISCAL BOARD
ENVIRONMENTAL RISK COMMITTEE
BOARD OF DIRECTORS
INTERNAL AUDIT
AUDIT AND RISKS COMMITTEE
HUMAN RESOURCES COMMITTEE
STRATEGY COMMITTEE
COMPLIANCE
CORPORATE GOVERNANCE STRUCTURE
7
This information is property of Embraer and can not be used or reproduced without written permission.
Baa3
BBB
INVESTMENT GRADE
(SINCE DEC. 2005)
(SINCE JAN. 2006)
EMBRAER CREDIT RATINGS
8
This information is property of Embraer and can not be used or reproduced without written permission.
INDEXES & INITIATIVES
9
This information is property of Embraer and can not be used or reproduced without written permission.
This information is property of Embraer and can not be used or reproduced without written permission.
OVER 90 AIRLINES IN MORE THAN 60 COUNTRIES
11
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70 - 80 seats 2,100nm (3,900Km)
78 - 88 seats 2,000nm (3,700Km)
98 - 114 seats 2,400nm (4,500Km)
108 - 122 seats 2,200nm (4,100Km)
PRODUCT PORTFOLIO
37 seats 1,750nm (3,250Km)
44 seats 1,650nm (3,050Km)
50 seats 1,550nm (2,900Km)
50 seats 2,000nm (3,700Km) 120-136 seats
2,000nm (3,700Km)
97-114 seats 2,800nm (5,200Km)
80-90 seats 1,920nm (3,560Km)
12
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E-JETS – GLOBAL MARKET SUCCESS
1,704
ORDERS
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
513 AIRCRAFT IN BACKLOG
Source: Embraer (Dec./2015)
1,191
DELIVERIES
13
This information is property of Embraer and can not be used or reproduced without written permission.
FIRM ORDERS DELIVERIES FIRM BACKLOG
193 190 3
500 331 169
578 523 55
166 147 19
100 - 100
77 - 77
90 - 90
TOTAL 1,704 1,191 513
E-JETS – ORDER BOOK 4Q15
14
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DELIVERIES SHARE 70-130 SEATS JETS
E-JETS – SHARE AND REGION BREAKDOWN
15
NORTH AMERICA SHARE 76 SEAT JETS - ORDERS SINCE 2013
DELIVERIES BY REGION
BACKLOG BY REGION
LATIN AMERICA
NORTH AMERICA
EUROPE CIS
MIDDLE EAST AFRICA
ASIA PACIFIC CHINA
LATIN AMERICA NORTH AMERICA
EUROPE CIS
OTHERS
ASIA PACIFIC CHINA
This information is property of Embraer and can not be used or reproduced without written permission.
COMPETITIVE SCENARIO
180+
160
140
120
100
80
SSJ95/100
MRJ90 ARJ21 CRJ900
CRJ1000
CRJ700
CAPACITY (SINGLE CLASS)
737-7 MAX A319neo
A320neo
737-8MAX
CS100
CS300
E175-E2
E190-E2
E195-E2
E195
E190
E170
E175
16
This information is property of Embraer and can not be used or reproduced without written permission.
• REPLACEMENT OF OLD/INEFFICIENT JETS (APROX. 3,250 UNITS)
• RIGHT-SIZING OF NARROW-BODY OPERATIONS (APROX. 750 UNITS)
• REGIONAL AVIATION, NEW US OPPORTUNITIES AND LCCs (APROX. 1,100 UNITS)
EMBRAER MARKET FORECAST (2015 – 2034)
17
CHINA 1,020 JETS (16%)
MIDDLE EAST 240 JETS (4%)
ASIA PACIFIC 550 JETS (9%)
NORTH AMERICA 2,060 JETS (32%)
EUROPE 1,160 JETS (18%)
LATIN AMERICA 720 JETS (11%)
WORLDWIDE 6,350 JETS (70-130 SEATS)
US$ 300 BILLION
AFRICA 220 JETS (4%)
CIS 380 JETS (6%)
This information is property of Embraer and can not be used or reproduced without written permission.
This information is property of Embraer and can not be used or reproduced without written permission.
E-JETS EVOLUTION
70
80
90
100
110
120
130
+4 SEATS
SAME
+14 SEATS
20%
20%
120-136 seats 2,000nm
97-114 seats 2,800nm
80-90 seats 1,920nm
19
This information is property of Embraer and can not be used or reproduced without written permission.
FUEL BURN IMPROVEMENTS
FUEL BURN PER SEAT
Target values for 600 nm sector; Dual Class configuration
E175-E2 (80 SEATS) vs E175 (76 SEATS)
E190-E2 (97 SEATS) vs E190 (97 SEATS)
E195-E2 (120 SEATS) vs E195 (106 SEATS)
-16% -16%
-24%
0%
-5%
-10%
-15%
-20%
-25%
20
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MAINTENANCE COST IMPROVEMENTS
-25%
-15%
-20%
E175-E2 (80 SEATS) vs E175 (76 SEATS)
E190-E2 (97 SEATS) vs E190 (97 SEATS)
E195-E2 (120 SEATS) vs E195 (106 SEATS)
DMC PER SEAT
E175 CF34-8E5 baseline per 2011 conditions *2,600FH/Yr & 1.5FH/FC; 10 years DMC E190 CF34-10E6 baseline per 2011 conditions *2,600FH/Yr & 1.5FH/FC; 10 years DMC
0%
-5%
-10%
-15%
-20%
-25%
21
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NEW WING More efficient, high aspect ratio
metallic wing. Raked wing tip.
IMPROVED AVIONICS 4 larger 13”x10” displays and touchscreen controls
MAIN LANDING GEAR Enabling larger engines. Gear doors
for improved fuel efficiency
OPTIMIZED WING/ENGINE DIFFERENT WING AND ENGINE COMBINATIONS FOR E175-E2 AND E190/195-E2
NEW ENGINES Larger fan diameter and improved fuel efficiency
E2 NEW FEATURES
22
|
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E195-E2 | EIS 2019
E190-E2 | EIS 1H2018
E175-E2 | EIS 2020
E2 ENTRY INTO SERVICE
23
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COMMITMENTS E-JETS E2
640 COMMITMENTS
(267 FIRM)
SKYWEST, INC. 100+100 x E175-E2
AERCAP 50+50 x E190-E2 | E195-E2
AIR COSTA 50+50 x E190-E2 | E195-E2
HAINAN/TIANJIN AIRLINES 2+18 x E190-E2
ICBC LEASING 10+10 x E190-E2
AZUL 30+20 x E195-E2
TRANS STATES HOLDINGS 50+50 x E175-E2
AIRCASTLE 25 +25 x E190-E2 | E195-E2
24
This information is property of Embraer and can not be used or reproduced without written permission.
This information is property of Embraer and can not be used or reproduced without written permission.
NEARLY 930 JETS IN SERVICE IN MORE THAN 60 COUNTRIES
26
This information is property of Embraer and can not be used or reproduced without written permission.
SUPER-MIDSIZE
PRODUCT PORTFOLIO
ENTRY LIGHT MIDLIGHT MIDSIZE
LARGE ULTRA-LARGE
Certified 2008 Certified 2009 Certified 2015 Certified 2014
Certified 2001 Certified 2010 Certified 2008
Up to 8 occupants | 1,178 nm Up to 11 occupants | 1,971 nm 7 to 9 passengers | 2,900 nm 8 to 12 passengers | 3,125 nm
13 to 14 passengers | 3,400 nm 13 to 19 passengers | 4,600 nm 13 to 14 passengers | 3,900 nm
• Cessna - Mustang/M2 •HondaJet
• Cessna - CJ3+/CJ4 •Bombardier - Learjet 75 • Pilatus - PC-24
•Bombardier - Learjet 75 • Cessna - XLS+/Latitude
• Cessna - Sovereign+ •Bombardier - CL350 •Gulfstream - G150 •Gulfstream - G280
•Cessna - Hemisphere •Bombardier - CL650/GL5000 •Dassault - Falcon 2000LXS/900LX/5X •Gulfstream - G450/G500
•Airbus - ACJ 318/319/320 •Boeing - BBJ/BBJ2/BBJ3
• Cessna - X+/Longitude •Dassault - Falcon 2000S
27
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14% 19% 14% 15% 17% 16%
20%20% 26% 27% 27% 29%
33% 23% 26% 27% 21% 22%
9%12% 9%
10%11% 9%
11% 13% 15%14% 21% 21%
11% 10% 7% 5% 1%2% 3% 3% 2% 2% 3%
2009 2010 2011 2012 2013 2014
6% 7% 6% 7% 8% 7%
28% 27% 33% 33% 30% 34%
13% 7%9% 10%
6%8%
18%22%
15% 17%16% 12%
21% 21% 27% 25% 35% 35%
8% 6%4% 3% 1%6% 10% 6% 5% 4% 4%
2009 2010 2011 2012 2013 2014
DELIVERIES SHARE (UNITS) REVENUES SHARE (US$ BI | B&CA LIST PRICES)
MARKET DELIVERIES 2014: 715 UNITS
EMBRAER DELIVERIES: 116 UNITS
MARKET REVENUES 2014: US$ 21.9 BILLION
EMBRAER REVENUES: US$ 1.6 BILLION
MARKET SHARE
OTHERS
28
17.3 18.2 18.1 17.7 21.2 21.9 870 763 703 663 677 715
This information is property of Embraer and can not be used or reproduced without written permission. 29
EXECUTIVE JETS – DELIVERIES EVOLUTION
9 13 1320 27 36 38
122
145
99 99119 116 120
976
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
EMBRAER EXECUTIVE JETS DELIVERIES ACCUMULATED FLEET
This information is property of Embraer and can not be used or reproduced without written permission.
0%
4%
8%
12%
16%
20%
24%
28%
0
500
1000
1500
2000
2500
3000
3500
Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
% O
F A
CTI
VE
FLEE
T
UN
ITS
BUSINESS JETS PRE-OWNED MARKET INVENTORY
Source: Jetnet and Embraer analysis, December 2015
11.1% 2,280 jets
8.1% 703 jets
30
This information is property of Embraer and can not be used or reproduced without written permission.
Source: Jetnet databse October 2015.
0
10
20
30
40
50
60
70
80
90
100
2007 2008 2009 2010 2011 2012 2013 2014 2015TD
31
FRACTIONAL SEGMENT – MARKET SHARE
OTHERS
This information is property of Embraer and can not be used or reproduced without written permission.
0,6
1,1
2014 2015
NORTH AMERICA LATIN AMERICA EUROPE | AFRICA ASIA-PACIFIC | CHINA
NET BOOK-TO-BILL (US$)
32
IMPROVED SALES PERFORMANCE
DELIVERIES: 116 JETS DELIVERIES: 120 JETS
13%
25%
13%
49%
8%
18%
5% 68%
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DELIVERIES FORECAST (N10Y)
9,100 JETS AND US$ 259 BILLION IN THE NEXT 10 YEARS
2016-2025 MARKET FORECAST PER JET CLASS
Note: Sum of jet class numbers might differ from total numbers due to rounding.
Units US$
1,000 5
1,420
13
580
7
1,250
22
1,450
37
1,700
67
1,560
99
140 9
0
200
400
600
800
1.000
1.200
2008 2010 2012 2014 2016 2018 2020 2022 2024
De
live
rie
s (#
of
jets
)
ENTRY
LIGHT
MIDLIGHT
MIDSIZE
SUPERMID
LARGE
ULTRA LARGE
U-LONG RANGE
33
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NORTH AMERICA 4,850 JETS (54%) US$ 130 BI (50%)
EUROPE & AFRICA 2,100 JETS (23%) US$ 64 BI (25%)
ASIA PACIFIC, CHINA & MIDDLE EAST 1,500 JETS (16%) US$ 54 BI (21%)
LATIN AMERICA 650 JETS (7%) US$ 11 BI (4%)
WORLDWIDE 9,100 JETS US$ 259 BILLION
2016-2025 MARKET FORECAST BY REGION
Note: sum of regional numbers might differ from total numbers due to rounding Source: Embraer Analysis
34
ASIA PACIFIC, CHINA, MIDDLE EAST
550
This information is property of Embraer and can not be used or reproduced without written permission.
6
5
7 4
1
2
3
EXPANSION 2015 TO 2017
LEGACY 450/500 FINAL ASSEMBLY 5 LEGACY 450/500 PAINTING 6 LEGACY 450/500 DELIVERY CENTER 7
CURRENT FACILITIES
PHENOM FINAL ASSEMBLY 1 PHENOM PAINTING 2 ENGINEERING CENTER 3 CUSTOMER CENTER 4
35
EXPANDING OPERATIONS IN FLORIDA
This information is property of Embraer and can not be used or reproduced without written permission.
This information is property of Embraer and can not be used or reproduced without written permission.
OVER 50 ARMED FORCES
37
This information is property of Embraer and can not be used or reproduced without written permission.
SATELLITE
INTEGRATED PORTFOLIO
RADAR C4I
• C2 & C4I SYSTEMS • AIRBORNE SYSTEMS • SIMULATION • CONTROL SYSTEMS • AIR TRAFFIC SYSTEM
• LAND DEFENSE SYSTEMS INTEGRATION
• SISFRON IMPLEMENTATION
• MRO
• AEROSTRUCTURES
• REMOTE SENSING
• AERIAL SURVEILLANCE RADAR
• SATELLITE GEOSTATIONARY OF DEFENSE AND COMMUNICATIONS (SGDC)
100% 65% 95% 100% 51%
PARTNERSHIPS
TRANSPORT AIRCRAFT
TACTICAL MILITARY TRANSPORT
MODERNIZATION PROGRAMS
LIGHT ATTACK AND ADVANCED TRAINING
ISR SOLUTIONS
LAND SYSTEMS SERVICES
38
This information is property of Embraer and can not be used or reproduced without written permission.
227346
505 499670
8521,056
1,1971,456
6% 7% 8%9%
13%15%
17%19%
23%
14%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015*
EMBRAER DEFENSE & SECURITY RESULTS
REVENUES PARTICIPATION (%)
39
1.1 1.01.5
3.2 3.3 3.3 3.4 3.6
5.5
2006 2007 2008 2009 2010 2011 2012 2013 2014
800-950
REVENUES EVOLUTION (US$ MILLION) BACKLOG EVOLUTION (US$ BILLION)
* 2015 Outlook
This information is property of Embraer and can not be used or reproduced without written permission.
• NEW TACTICAL MILITARY TRANSPORT AND TANKER AIRCRAFT
• PARTNERSHIP WITH BOEING TO SHARE TECHNICAL KNOWLEDGE AND SELL THE KC-390
• BRAZILIAN GOVERNMENT AND EMBRAER SIGNED CONTRACT FOR 28 KC-390
• OTHER FIVE LOIs (32 AIRCRAFT)
• SECOND FLIGHT IN OCTOBER 2015 RESUMING FLIGHT TEST CAMPAIGN
• CERTIFICATION EXPECTED BY 2H2017
• FIRST DELIVERY TO BRAZILIAN AIR FORCE IN 1H2018
TOTAL MARKET FORECAST 2025: 700 AIRCRAFT / US$ 50+ BI
BRAZIL: 28
COLOMBIA: 12
ARGENTINA: 6
CHILE: 6
PORTUGAL: 6
CZECH REP.: 2
EMBRAER KC-390
40
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BRAZIL: 99
COLOMBIA: 25
DOMINICAN REPUBLIC: 8
CHILE: 12
ECUADOR: 18
INDONESIA: 16
GREYSTONE (TACAIR): 1
MAURITANIA: 2
BURKINA FASO: 3
ANGOLA: 6
USA: 20
MALI: 6
GHANA: 5
LEBANON: 6
FIRM ORDERS: MORE THAN 220 AIRCRAFT
OVER 190 AIRCRAFT DELIVERED
TOTAL MARKET FORECAST: 300 AIRCRAFT / US$ 3.5 BILLION
SUPER TUCANO
41
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SISFRON INTEGRATED BORDERS MONITORING SYSTEM
FIRST PHASE: US$ 420 MILLION
TOTAL ESTIMATE: US$ 4 BILLION
COMPRISING RADARS, COMMUNICATION NETWORKS, C4I, UNMANNED AIR VEHICLES (UAV) AND ARMORED VEHICLES
SATELLITE BRAZILIAN GEOSTATIONARY DEFENSE AND
COMMUNICATION SATELLITE PROGRAM (SGDC)
TOTAL ESTIMATE: US$ 400 MILLION
PARTICIPATION IN THE FIRST BRAZILIAN GEOSTATIONARY SATELLITE
BRAZILIAN ARMY PRIORITIES
42
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BRAZILIAN GOVERNMENT CONTRACTED SAAB TO SUPPLY 36 GRIPEN NG FIGHTER JET
CONTRACT BETWEEN EMBRAER AND SAAB FINALIZED (EFFECTIVE AND RUNNING)
FIRST GROUP OF 44 BRAZILIAN ENGINEERS IN SWEDEN SINCE OCTOBER 2015
NEW BRAZILIAN FIGHTER (F-39 GRIPEN)
43
This information is property of Embraer and can not be used or reproduced without written permission.
GRIPEN
GAVIÃO PEIXOTO (GPX) SITE
44
CONCENTRATING DEFENSE ACTIVITIES
EXPANSION
NEW GRIPEN DESIGN AND DEVELOPMENT NETWORK 5
CURRENT FACILITIES STRUCTURAL ASSEMBLY WINGS ST & KC-390 FUSELAGE KC-390
MODERNIZATION A4, AMX & F-5 2 FINAL ASSEMBLY ST 3 FINAL ASSEMBLY KC-390 4
1
1
2 3
4
5
This information is property of Embraer and can not be used or reproduced without written permission.
FINANCIAL RESULTS
This information is property of Embraer and can not be used or reproduced without written permission.
99113
86100
78
52
55
43
47
43
3Q14 4Q14 1Q15 2Q15 3Q15
1,240
2,046
1,056
1,5131,285
3Q14 4Q14 1Q15 2Q15 3Q15
NET REVENUES SG&A EXPENSES
NET REVENUES | SG&A EXPENSES
SELLING EXPENSES G&A EXPENSES
2015 OUTLOOK: US$ 5.8 – 6.3 BILLION
YTD: 3,854
151
168
121
147
129
YTD: 397
46
US$ MILLION
This information is property of Embraer and can not be used or reproduced without written permission.
346 359
213 216 182
3Q14 4Q14 1Q15 2Q15 3Q15
213
690
167
404 402
3Q14 4Q14 1Q15 2Q15 3Q15
661
975
662
883
688
3Q14 4Q14 1Q15 2Q15 3Q15
1,240
2,045
1,056
1,5131,285
3Q14 4Q14 1Q15 2Q15 3Q15
NET REVENUES BY SEGMENT
OUTLOOK: US$ 1.70 – 1.85 BILLION OUTLOOK: US$ 0.80 – 0.95 BILLION
OUTLOOK: US$ 3.20 – 3.40 BILLION OUTLOOK: US$ 5.80 – 6.30 BILLION
YTD: 3.85 BILLION YTD: 2.23 BILLION
YTD: 0.97 BILLION YTD: 0.61 BILLION
47
This information is property of Embraer and can not be used or reproduced without written permission.
136
281
149178 158
11.0%
13.8% 14.1%
11.7%12.3%
3Q14 4Q14 1Q15 2Q15 3Q15
68
196
80 102
84
5.5%
9.6%7.5%
6.8% 6.6%
3Q14 4Q14 1Q15 2Q15 3Q15
INCOME FROM OPERATIONS (EBIT) | EBITDA
EBIT EBITDA
EBIT EBIT MARGIN EBITDA EBITDA MARGIN
2015 OUTLOOK: US$ 490 – 560 MILLION | 8.5% – 9.0%
2015 OUTLOOK: US$ 730 – 860 MILLION | 12.6% – 13.6%
YTD: 266 | 6.9% YTD: 485 | 12.6%
48
US$ MILLION
This information is property of Embraer and can not be used or reproduced without written permission.
49
507
(291)
245
70
(89) (87)
(57)
(74) (76)
(97) (132)
(91)
(98) (110)
(138)
288
(440)
73
(115)
3Q14 4Q14 1Q15 2Q15 3Q15
(11)
91
(62)
129
(110)
-0.9%
4.5%
-5.8%
8.5%
-8.5%
3Q14 4Q14 1Q15 2Q15 3Q15
NET INCOME FREE CASH FLOW
FREE CASH FLOW
NET ADDITIONS TO PP&E
NET CASH GENERATED (USED) BY OPERATING ACTIVITIES*
ADDITIONS TO INTANGIBLE * Net of financial investments and unrealized gains (loss)
NET INCOME | FREE CASH FLOW
NET MARGIN NET INCOME
2015 OUTLOOK: FCF > (US$ 100) MILLION
YTD: (43) | -1.1% YTD: (482)
49
US$ MILLION
This information is property of Embraer and can not be used or reproduced without written permission.
27
164143
50
300 300
RESEARCH DEVELOPMENT CAPEX
2,767
2,405
2,696 2,6402,763
3Q14 4Q14 1Q15 2Q15 3Q15
INVENTORIES | INVESTMENTS
50
INVENTORIES INVESTMENTS
2015 OUTLOOK: US$ 650 MILLION
US$ MILLION
YTD: 334
2015 YTD 2015 OUTLOOK
This information is property of Embraer and can not be used or reproduced without written permission.
(280)
(39)
(535)(465)
(644)
3Q14 4Q14 1Q15 2Q15 3Q15
96% 96%89% 90% 91%
4% 4% 11% 10% 9%
5.65.4 5.3
6.5 6.5
3Q14 4Q14 1Q15 2Q15 3Q15
INDEBTEDNESS PROFILE | NET CASH
INDEBTEDNESS MATURITY NET CASH (DEBT) - US$ MILLION
LONG-TERM SHORT-TERM LOANS AVERAGE MATURITY (YEARS)
TOTAL DEBT 3Q15: US$ 3.39 BILLION TOTAL CASH 3Q15: US$ 2.75 BILLION
51
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USD Debt
2,702 80%
BRL Debt
590 17%
EUR Debt 97 3%
864
1,881
40286
40681
66 199 73
546 539
1,122
INDEBTEDNESS PRINCIPAL MATURITIES C
ASH
LO
CA
L C
ASH
AB
RO
AD
PRINCIPAL MATURITIES: US$ 3.39 BILLION
2,745
52
US$ MILLION
This information is property of Embraer and can not be used or reproduced without written permission.
1.83
0.62
1.92 1.88 1.82
34%
116%
26% 26% 27%
2010 2011 2012 2013 2014
EPADS AND PAY OUT
EPADS PAY OUT
53
US$
This information is property of Embraer and can not be used or reproduced without written permission.
736,951,302 VOTING SHARES
OWNERSHIP STRUCTURE – 4Q15
54
NYSE
58%
BM&F
BOVESPA
42%
17%
83%
LOCAL
SHAREHOLDERS
INTERNATIONAL
SHAREHOLDERS
This information is property of Embraer and can not be used or reproduced without written permission.
2015 OUTLOOK
This information is property of Embraer and can not be used or reproduced without written permission.
NET REVENUES US$ 5.8 – 6.3 BILLION
2015 CONSOLIDATED OUTLOOK
15% OF NET REVENUES US$ 0.80 – 0.95 BILLION
2% OF NET REVENUES US$ 100 MILLION
29% OF NET REVENUES US$ 1.70 – 1.85 BILLION
54% OF NET REVENUES US$ 3.20 – 3.40 BILLION
DELIVERIES 95 TO 100 E-JETS
OTHER REVENUES
80 TO 90 LIGHT JETS 35 TO 40 LARGE JETS
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DELIVERIES
This information is property of Embraer and can not be used or reproduced without written permission.
EBITDA MARGIN 12.6% – 13.6%
EBITDA US$ 730 – 860 MILLION
EBIT MARGIN 8.5% – 9.0%
EBIT US$ 490 – 560 MILLION
FCF > (US$ 100) MILLION*
2015 CONSOLIDATED OUTLOOK
* FCF USE OF LESS THAN US$ 100 MILLION.
RESEARCH US$ 50 MILLION
DEVELOPMENT US$ 300 MILLION
CAPEX US$ 300 MILLION
TOTAL INVESTMENTS US$ 650 MILLION
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This information is property of Embraer and can not be used or reproduced without written permission.
+55 12 3927 4404 | [email protected] | www.embraer.com
This information is property of Embraer and can not be used or reproduced without written permission.
This presentation may contain forward-looking statements, projections and estimates regarding circumstances
or events yet to take place, including, but not limited to, those statements relating to guidance. These forward-
looking statements are based largely on current expectations, forecasts of future events and industry and
financial trends that affect Embraer’s businesses. These statements are subject to risks, uncertainties and
assumptions that include, among others: general economic, political and trade conditions, both in Brazil and in
those markets where Embraer does business; management’s expectations and estimates concerning the
company’s future financial performance; plans and objectives of our management; financing plans and
programs, and the effects of competition; industry trends and growth opportunities; inflation and fluctuations
in exchange rates; the company’s investment plans; Embraer’s operating efficiencies and synergies and its
capacity to develop and deliver products on the dates previously agreed upon; results of operation; business
strategies; benefits of new technologies and existing and future governmental regulations. To obtain further
information on factors that may lead to results different from those forecast by Embraer, please consult the
reports Embraer files with the U.S. Securities and Exchange Commission (SEC) and the Brazilian Comissão de
Valores Mobiliários (CVM) and in particular the factors discussed under “Forward-Looking Statements” and
“Risk Factors” in Embraer’s annual report on Form 20−F. The words “believe”, “may”, “will”, “estimate”,
“intend”, “continue”, “anticipate”, “expect” and other similar terms are intended to identify forward-looking
statements. Embraer does not undertake any obligation to publish updates or to revise any forward-looking
statements due to new information, future events or any other factors. In view of the inherent risks and
uncertainties, such estimates, events and circumstances may not occur. The actual results and performance of
Embraer could therefore differ substantially from those anticipated in Embraer's forward-looking statements.
FORWARD LOOKING STATEMENT
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