EMBRAER S.A. released its third quarter 2017 results and 2018 outlook today.
نکات مهم:
• During 3Q17, Embraer delivered 25 commercial jets and 20 executive jets (13 light and 7 large);
• The Company’s firm order backlog at the end of 3Q17 was US$ 18.8 billion, representing an increase from the US$ 18.5 billion reported at the end of 2Q17;
• Consolidated revenues in 3Q17 were US$ 1,310.4 million, representing a decline of 13.5% compared to 3Q16 due to lower deliveries in the Commercial Aviation and Executive Jets segments;
• Adjusted EBIT and Adjusted EBITDA margins were 5.3% and 10.9%, respectively, in 3Q17. Adjusted EBIT and Adjusted EBITDA exclude US$ 3.6 million in net non-recurring charges in 3Q17;
• 3Q17 Net income attributable to Embraer shareholders and Earnings per ADS were US$ 110.0 million and US$ 0.60, respectively. Adjusted Net income (excluding the impact of FX-related non-cash deferred income tax and social contribution and non-recurring items) for the quarter was US$ 75.2 million, representing Adjusted Earnings per ADS of US$ 0.41;
• The Company reiterates all formal aspects of its financial and deliveries Guidance for 2017;
• Embraer expects 2018 to be a transition year due to the entry into service of the first E2 model, the E190-E2, combined with a still flattish market for Executive Jets and Defense & Security. In this transition scenario of ramp-up costs for the initial E2 deliveries, the Company releases 2018 Outlook for total revenues of US$ 5.3 to US$ 6.0 billion, with deliveries of 85 to 95 jets in Commercial Aviation and 105 to 125 jets in Executive Jets.
Consolidated EBIT margin is expected to be within a range of 5.0% to 6.0%, and Guidance for Free Cash Flow is for a usage of US$ (150) million or better for 2018.
MAIN FINANCIAL INDICATORS (IFRS)
in millions of U.S dollars, except % and earnings per share data
2Q17 3Q16 3Q17 YTD17
درآمد 1,769.6 1,514.3 1,310.4 4,106.3
EBIT 174.0 (28.9) 65.2 262.6
EBIT Margin % 9.8% -1.9% 5.0% 6.4%
Adjusted EBIT 164.6 94.7 68.8 264.4
Adjusted EBIT Margin % 9.3% 6.3% 5.3% 6.4%
EBITDA 254.8 54.3 139.8 490.4
EBITDA Margin % 14.4% 3.6% 10.7% 11.9%
Adjusted EBTIDA 245.4 177.9 143.4 492.2
Adjusted EBTIDA Margin % 13.9% 11.7% 10.9% 12.0%
Adjusted Net Income 123.0 38.9 75.2 221.4
Adjusted earnings per share – ADS basic 0.6688 0.2135 0.4089 1.2039
Net income (loss) attributable to Embraer Shareholders 59.1 (33.7) 110.0 211.6
Earnings (losses) per share – ADS basic (US$) 0.3214 (0.1848) 0.5982 1.1507
Net debt (661.5) (652.7) (722.8) (722.8)
