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First Quarter 2008 First Quarter 2008
ResultsResults
May 7, 2008
This 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.
Forward Forward LookingLooking Statement Statement
SummarySummary
• Embraer added new customers to its firm order backlog such as Petroecuador,
Universal Airlines, Air Moldova, Jetscape and the new Brazilian airline founded
by David Neeleman, “Azul Linhas Aéreas Brasileiras S.A.”
• Former customers such as Finnair and Lot Polish have announced new firm
orders for the E-Jets.
• Regional, Virgin Blue, Egypt Air and M1 Travel also confirmed options for the
E-Jets.
• Embraer held a General Shareholder’s Meeting with a quorum representing
82.75% of the Company’s total capital.
• Embraer concluded the purchase of 16,800,000 common shares (4,200,000
ADRs), representing a disbursement of R$ 320.2 million.
Results & Results & PerformancePerformance
Jet DeliveriesJet Deliveries
2536
47
61
45
1Q07 2Q07 3Q07 4Q07 1Q08
Net Revenue by SegmentNet Revenue by Segment
1Q07 1Q08
Others3.0%
AviationServices
14.8%
ExecutiveAviation14.2%
Defense and Government
4.4%
CommercialAviation63.6%
Others1.3%Aviation
Services9.5%
ExecutiveAviation13.0%
Defense and Government
6.6%
CommercialAviation69.6%
Net RevenueNet Revenue
US$ Million
1,336 1,110
832
1,428
1,875
22.6%
21.2% 20.4%21.5%22.5%
1Q07 2Q07 3Q07 4Q07 1Q08
Net Revenue Gross Margin
Income from OperationsIncome from Operations
US$ Million
179
230
15 31 49
1.9%2.8%
3.6%
16.1%
9.5%
1Q07 2Q07 3Q07 4Q07 1Q08
Income from Operations Margin
EBITDAEBITDA
US$ Million
30 40
249
195
65
4.9%3.6%
17.5%
3.6%
10.4%
1Q07 2Q07 3Q07 4Q07 1Q08
EBITDA EBITDA Margin
Net IncomeNet Income
US$ Million
26 67
195 201
85
6.1%
10.7%13.6%
6.4%
3.1%
1Q07 2Q07 3Q07 4Q07 1Q08
Net Income Net Margin
Accounts Receivable and Clients FinancingAccounts Receivable and Clients Financing
US$ Million
283 328 346 370
223231 236
35
331330 329
378 373
394
37
1Q07 2Q07 3Q07 4Q07 1Q08
Accounts Receivable CCF A/c Leasing/Remarketing
InventoriesInventories
US$ Million
2,317
2,621 2,681 2,491
2,688
1Q07 2Q07 3Q07 4Q07 1Q08
IndebtednessIndebtedness
• Average Cost in Brazilian Currency (R$): 8.28% p/a
• Average Cost in Foreign Currency (US$): Libor + 2.38% p/a
Total Debt: US$ 1,597 Million
Loans Average Maturity: 3 years and 9 months
Short Term49%
Long Term51%
Foreign Currency
60%
BrazilianCurrency
40%
Net Cash (Debt)Net Cash (Debt)
US$ Million
217128
650740
450
1Q07 2Q07 3Q07 4Q07 1Q08
Backlog and Backlog and Deliveries ForecastDeliveries Forecast
ERJ 145 Family Order Book ERJ 145 Family Order Book
Firm Orders Options Total DeliveriesFirm
Backlog
ERJ 135 108 - 108 108 -
ERJ 140 74 - 74 74 -
ERJ 145 733 75 808 690 43
Total 915 75 990 872 43
(as per 1st Quarter, 2008)
EMBRAER 170/190 Family Order BookEMBRAER 170/190 Family Order Book
Firm Orders Options Total DeliveriesFirm
Backlog
EMBRAER 170 179 114 293 139 40
EMBRAER 175 129 148 277 74 55
EMBRAER 190 431 479 910 140 291
EMBRAER 195 96 99 195 16 80
Total 835 840 1675 369 466
(as per 1st Quarter, 2008)
Order BacklogOrder Backlog
US$ Billion
20.318.817.215.615.0
22.9 24.3
26.1 26.5
18.2
1Q07 2Q07 3Q07 4Q07 1Q08
Firms Options
Aircraft Deliveries ForecastAircraft Deliveries Forecast
169 131
101148 141 130
195/200 E*
10/15 E*
120/150 E*
2002 2003 2004 2005 2006 2007 2008 2009
ERJ, E-Jets, Legacy 600 and Lineage 1000 Phenom 100 / 300
E* - Estimated
Investments ForecastInvestments Forecast
US$ Million R&D
2008 2009Commercial Aviation 48 55Executive Aviation 123 227*Technology Development 72 70
TOTAL 243 352
Defense and Government 54 102
PP&E
2008 2009
TOTAL 330 270
* Includes additional US$ 100 MM investment for the development of MSJ e MLJ Jets
Investor Relations Investor Relations Phone: +55 12 3927 4404Phone: +55 12 3927 4404
[email protected]@embraer.com.br
www.embraer.comwww.embraer.com
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