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

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

PR Newswire

SAO JOSE DOS CAMPOS, Brazil, Feb. 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

  oExcluding 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;
  oIn 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;
  oAs 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;
  oEBIT 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;
  oStrong 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;
  o4Q13 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;
  oFor 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;
  oThe 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 52.9     123.2    264.5   347.8    342,0
Shareholders
Earnings per share - ADS basic     0.2905   0.6797   1.4513  1.9188   1.8764
(US$)
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 Relations
Luciano Froes, Caio Pinez, Christopher Thornsberry, Claudio Massuda, Nadia
Santos and Paulo Ferreira
(+55 12) 3927-4404
investor.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) 846-1574
Operator Assisted International Dial-In Number: (708) 290-0687
Your own International Toll-Free number for Brazil: 0800 047 4803 (land line)
and 0800 047 4801 (cell phone)
Code: 45649641

SOURCE Embraer S.A.

Website: http://ri.embraer.com.br
 
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