SÃO PAULO, April 29, 2021
/PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3)
releases its First Quarter 2021 Earnings Results.
HIGHLIGHTS
- Embraer delivered 9 commercial jets and 13 executive jets (10
light / 3 large) in 1Q21. Total company firm order backlog at the
end of 1Q21 was US$ 14.2
billion;
- Revenues in 1Q21 reached US$ 807.3
million, representing year-over-year growth of 27.4%
compared to 1Q20, with growth in the Commercial Aviation, Defense
& Security, and Executive Aviation segments;
- On April 23, the Company signed a
firm order for 30 E195-E2 jets with an undisclosed customer, with
deliveries starting in 2022. The 30 firm orders will be included in
Embraer's second quarter backlog;
- Excluding special items, adjusted EBIT and EBITDA were
US$ (29.6) million and US$ 18.0 million, respectively, yielding adjusted
EBIT margin of -3.7% and adjusted EBITDA margin of 2.2%;
- Adjusted net loss (excluding special items and deferred income
tax and social contribution) in 1Q21 was US$
(95.9) million, with adjusted loss per ADS of US$ (0.52);
- Embraer free cash flow in 1Q21 was a usage of US$ (226.6) million, which is consistent with
normal quarterly seasonality of free cash flow usage in the first
quarter. The free cash flow usage represented a significant
improvement compared to the US$ (676.6)
million in free cash flow consumption in 1Q20 on
considerably better inventory levels given steps taken to stabilize
production and operations in the midst of the COVID-19
pandemic;
- The Company finished the quarter with total cash of
US$ 2.5 billion and net debt of
US$ 1.9 billion;
- Due to continued uncertainty related to the COVID-19 pandemic
and its impacts on the industry, Embraer has decided to not publish
2021 financial and delivery guidance at this point.
MAIN FINANCIAL INDICATORS
US$
Million
|
1Q20
|
4Q20
|
1Q21
|
Revenue
|
633.8
|
1,841.4
|
807.3
|
EBIT
|
(46.9)
|
103.6
|
(33.1)
|
EBIT margin
%
|
-7.4%
|
5.6%
|
-4.1%
|
Adjusted
EBIT
|
8.7
|
76.6
|
(29.6)
|
Adjusted EBIT margin
%
|
1.4%
|
4.2%
|
-3.7%
|
EBITDA
|
9.3
|
172.6
|
14.5
|
EBITDA margin
%
|
1.5%
|
9.4%
|
1.8%
|
Adjusted
EBITDA
|
64.9
|
145.6
|
18.0
|
Adjusted EBITDA
margin %
|
10.2%
|
7.9%
|
2.2%
|
Adjusted net income
(Loss)
|
(104.0)
|
(12.5)
|
(95.9)
|
Adjusted earnings
(losses) per share - ADS basic
|
(0.5651)
|
(0.0679)
|
(0.5219)
|
Net income (loss)
attributable to Embraer Shareholders
|
(292.0)
|
(3.3)
|
(89.7)
|
Earnings (losses) per
share - ADS basic (US$)
|
(1.5867)
|
(0.0179)
|
(0.4882)
|
Adjusted free cash
flow
|
(676.5)
|
725.1
|
(226.5)
|
Net debt
|
(1,331.6)
|
(1,695.7)
|
(1,902.2)
|
For additional information, please check the full document on
our website ri.embraer.com.br
INVESTOR RELATIONS
Eduardo Couto, Chris Thornsberry, Caio Pinez and Viviane Pinheiro.
(+55 11)
3040-6874
investor.relations@embraer.com.br
ri.embraer.com.br
CONFERENCE CALL INFORMATION
Embraer will host a
conference call to present its 1Q21 Results on Thursday, April 29, 2021 at 11:00 AM (SP) / 10:00
AM (NY). The conference call will also be broadcast live
over the web at ri.embraer.com.br
Conference ID: EMBRAER
Telephones USA / Canada: +1 (412) 717-9627 / +1 (844)
204-8942
Telephones Brazil: +55 (11)
4210-1803 / +55 (11) 3181-8565
We recommend calling 15 minutes in advance.
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SOURCE Embraer S.A.