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Cargo do ApresentadorEARNINGS RESULTS
1st QUARTER 2014
April 30, 2014
Forward Looking StatementThis 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 forward-looking 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 forward-looking 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 forward-looking events and circumstances discussed in this presentation might not
occur. Our actual results could differ substantially from those anticipated in our forward-looking statements.
Delivery of 14 E-Jets in 1Q14.
3
The E-Jets family celebrated its 10th anniversary of the first delivery.
Air Costa (India) placed an order for 50 E-Jets E2 plus 50 options of the E190-E2 and E195-E2 models.
Embraer’s Commercial jet segment from 70 to 130 seats, reached in 1Q14 more than 50% of the sales and 60% of the deliveries, worldwide.
Embraer started delivering in April to its customers the E175 jet featuring aerodynamic improvements that reduce the aircraft’s fuel burn by 6.4%.
Highlights
Delivery of 20 executive jets in 1Q14 (17 light jets and 3 large jets).
Delivery of the 300th Phenom 100, just five years after its EIS.
4
Embraer Executive Jets fleet, which currently consists of more than 740 aircraft, reached the milestone of one million flight hours.
Embraer Executive Jets inaugurated a new Service Center in the city of Sorocaba, Brazil.
Highlights
Savis concluded the delivery of the Military Operations Center of the Western Military Command, Sisfron’s first Command and Control Center.
5
Highlights
Embraer Defense & Security commenced assembly of the first Super Tucano aircraft for the USAF LAS Program. First delivery expected for mid-2014.
Embraer Defense & Security received the first seven FAB F-5 fighter jets under the modernization program for a total of 11 jets.
Atech's SAGITARIO system began operation in the Amazon Area Control Center. All air traffic control en route to Brazil is now managed through SAGITARIO.
13.3
17.1 17.8 18.2 19.2
1Q13 2Q13 3Q13 4Q13 1Q14
Firm Order Backlog
6
US$ Billion
4 4
23
38
17
3
15
6
21
8
1Q13 2Q13 3Q13 4Q13 1Q14
17
2219
32
14
1Q13 2Q13 3Q13 4Q13 1Q14
Aircraft Deliveries
Large Jets - Legacy & Lineage
Light Jets - Phenom
Commercial Jets Executive Jets
7
2014 deliveries estimates • 92 - 97 E-Jets• 25 - 30 executive large jets• 80 - 90 executive light jets
1,2421,0861,557
1,288
2,304
1Q13 2Q13 3Q13 4Q13 1Q14
394252 309 267
369
1Q13 2Q13 3Q13 4Q13 1Q14
267175370 315
785
1Q13 2Q13 3Q13 4Q13 1Q14
555640860
687
1,120
1Q13 2Q13 3Q13 4Q13 1Q14
Net Revenues by Segment – 2014 Outlook
8
Commercial Aviation: US$ 3.2 – 3.4 Billion
Executive Aviation: US$ 1.5 – 1.7 Billion Defense & Security: US$ 1.2 – 1.3 Billion
EMBRAER: US$ 6.0 – 6.5 Billion
2,157
3,240 2,944
5,296
2,929
1Q13 2Q13 3Q13 4Q13 1Q14
9
Net Revenues
US$ Million R$ Million
2014 Outlook: US$ 6.0 – 6.5 Billion
1,086
1,5571,288
2,304
1,242
1Q13 2Q13 3Q13 4Q13 1Q14
108121 112 113
5354
51 52
92
48
1Q13 2Q13 3Q13 4Q13 1Q14
215250 256 258
106
111 117 120
219
113
1Q13 2Q13 3Q13 4Q13 1Q14
10
SG&A Expenses
378
332321373361
Selling ExpensesG&A Expenses
165140
161 163175
US$ Million R$ Million
11
Income from Operations
EBIT EBIT Margin
EBIT: US$ 540 – 620 Million
EBIT Margin: 9.0% – 9.5%2014 Outlook:
US$ Million R$ Million
285173
1,068
79 215
3.7%
8.8%
5.9%
20.2%
7.4%
1Q13 2Q13 3Q13 4Q13 1Q14
13576
463
40 92
3.6%
8.7%
5.9%
20.1%
7.4%
1Q13 2Q13 3Q13 4Q13 1Q14
12
EBITDA
EBITDA EBITDA Margin
EBITDA: US$ 780 – 910 Million
EBITDA Margin: 13.0% – 14.0%2014 Outlook:
US$ Million R$ Million
100204
156
544
151
9.2%
13.1%12.1%
23.6%
12.2%
1Q13 2Q13 3Q13 4Q13 1Q14
201
427 359
1,253
355
9.3%
13.2%12.2%
23.7%
12.1%
1Q13 2Q13 3Q13 4Q13 1Q14
13
Net Income
Net MarginNet Income
US$ Million R$ Million
62
(10)
119
607
267
2.9%
-0.3%
4.0%
11.5%
9.1%
1Q13 2Q13 3Q13 4Q13 1Q14
30
(5)
53
265
111
2.8%
-0.3%
4.1%
11.5%
8.9%
1Q13 2Q13 3Q13 4Q13 1Q14
14
InventoriesUS$ Million
2,510 2,523
2,780
2,287
2,542
1Q13 2Q13 3Q13 4Q13 1Q14
1Q13 2Q13 3Q13 4Q13 1Q14
Net cash generated (used) by operating activities* (83) 186 102 761 (273)
Additions to property, plant and equipment (50) (125) (106) (156) (48)
Additions to intangible assets (68) (60) (80) (109) (83)
Free Cash Flow (201) 2 (84) 496 (404)
(125) (106) (156)(83)
186102
761
(273)(50)
(48)
(68) (60) (80)(109)
(83)(201)
2
(84)
496
(404)1Q13 2Q13 3Q13 4Q13 1Q14
Free Cash Flow
15
* Net of Financial assets adjustment
US$ Million
580
320
250
259
RESEARCH DEVELOPMENT CAPEX
Investments
16
2014 Outlook: US$ 650 Million
2014 Outlook2014 YTD
US$ Million
96% 96%
15%6%
85%94% 96%
4% 4% 4%
5.1
5.4
6.3 6.2 5.9
1Q13 2Q13 3Q13 4Q13 1Q14
17
Indebtedness Profile / Net Cash
Indebtedness Maturity Net Cash (Debt) - US$ Million
Long-term Short-termLoans Average Maturity (Years)
US$ 2.22 BillionTotal Debt 1Q14 Total Cash 1Q14 US$ 2.27 Billion
9858
(20)
429
53
1Q13 2Q13 3Q13 4Q13 1Q14
