embraer webcast 1q12 presentation

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FIRST QUARTER 2012 FIRST QUARTER 2012 RESULTS RESULTS April 27, 2012 April 27, 2012

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Page 1: Embraer Webcast 1Q12 Presentation

FIRST QUARTER 2012FIRST QUARTER 2012

RESULTSRESULTS

April 27, 2012 April 27, 2012

Page 2: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

Forward Looking Statement

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.

2

Page 3: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

• Delivery of 21 and sale of 12 E-Jets in 1Q12 (ten E195s

to Azul, one E190 to BA CityFlyer, and one E170 to JAL).

• Delivery of 21 and sale of 12 E-Jets in 1Q12 (ten E195s

to Azul, one E190 to BA CityFlyer, and one E170 to JAL).

3

• E-Jets customer base expansion with two new operators:

Bulgaria Air and Estonian Air.

• E-Jets customer base expansion with two new operators:

Bulgaria Air and Estonian Air.

• E-Jets orders rose to 1,063, with 60 companies in

42 countries.

• E-Jets orders rose to 1,063, with 60 companies in

42 countries.

Highlights

Page 4: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

4

• Delivery of 13 executive jets in 1Q12 (12 light jets and one large jet). • Delivery of 13 executive jets in 1Q12 (12 light jets and one large jet).

Highlights

• Delivery of the 300th Phenom and 100th executive jet in Brazil.• Delivery of the 300th Phenom and 100th executive jet in Brazil.

• Sale of three ultra-large Lineage 1000 jets to Minsheng of China.• Sale of three ultra-large Lineage 1000 jets to Minsheng of China.

• Continuous expansion of global support network

in strategic places to better serve our clients.

• Continuous expansion of global support network

in strategic places to better serve our clients.

• Legacy 500 first engine run and ground tests start.• Legacy 500 first engine run and ground tests start.

Page 5: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

5

• Defense and security revenues went up to 20% of total revenues.• Defense and security revenues went up to 20% of total revenues.

Highlights

• AEW India program: second aircraft performed its

maiden flight.

• AEW India program: second aircraft performed its

maiden flight.

• Three African nations were disclosed as Super Tucano

customers: Burkina Faso, Angola and Mauritania. Total

contract: US$ 180 million.

• Three African nations were disclosed as Super Tucano

customers: Burkina Faso, Angola and Mauritania. Total

contract: US$ 180 million.

• Embraer Defense and Security increased to 65% its stake in OGMA.• Embraer Defense and Security increased to 65% its stake in OGMA.

Page 6: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

2 3 1

20

40

12

110

17

6

1Q11 2Q11 3Q11 4Q11 1Q12

2025

2832

21

1Q11 2Q11 3Q11 4Q11 1Q12

Large Jets - Legacy & LineageLarge Jets - Legacy & Lineage

Aircraft Deliveries

Light Jets - PhenomLight Jets - Phenom

Commercial JetsCommercial Jets Executive JetsExecutive Jets

6

2012 deliveries estimates • 105 - 110 commercial jets• 15 - 20 executive large jets• 75 - 85 executive light jets

2012 deliveries estimates • 105 - 110 commercial jets• 15 - 20 executive large jets• 75 - 85 executive light jets

Page 7: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

14.818.8

20.916.6 15.6 15.4 14.7

2006 2007 2008 2009 2010 2011 1Q2012

Firm Backlog

US$ Billion

7

Page 8: Embraer Webcast 1Q12 Presentation

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8

Revenues by Segment

Commercial aviationCommercial aviation Executive aviationExecutive aviation OthersOthersDefense and securityDefense and security

Net Revenues US$ Billion 1.361.361.061.06 1.361.36 2.032.03 1.161.16

Page 9: Embraer Webcast 1Q12 Presentation

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1,0561,359 1,364

2,025

1,156

24.3%

22.4%21.2%

22.5% 23.2%

1Q11 2Q11 3Q11 4Q11 1Q12

9

Net Revenues and Gross Margin

IFRS - US$ Million IFRS - R$ Million

Net RevenuesNet Revenues Gross MarginGross Margin

2012 Outlook: Net Revenues2012 Outlook: Net Revenues US$ 5.8 – 6.2 billionUS$ 5.8 – 6.2 billion

1,7572,169 2,266

3,667

2,049

24.3%22.4% 21.2%

22.5% 23.2%

1Q11 2Q11 3Q11 4Q11 1Q12

Page 10: Embraer Webcast 1Q12 Presentation

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94109 103 114

57

64 6972 71

109

1Q11 2Q11 3Q11 4Q11 1Q12

157 174 167205

95103 113

129126

192

1Q11 2Q11 3Q11 4Q11 1Q12

10

SG&A Expenses

280280

334334

172172186186

151151

173173

252252277277

IFRS - US$ Million

Selling ExpensesSelling ExpensesG&A ExpensesG&A Expenses

180180 318318

IFRS - R$ Million

Page 11: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

11

Income from Operations

IFRS - US$ Million IFRS - R$ Million

EBITEBIT EBIT MarginEBIT Margin

2012 Outlook: EBIT Margin2012 Outlook: EBIT Margin 8.0% – 8.5%8.0% – 8.5%

106124

(6)

8694

7.4%

-0.3%

9.1%7.8%

8.9%

1Q11 2Q11 3Q11 4Q11 1Q12

169212

(15)

157 153

8.9%7.8%

9.4%

-0.4%

7.5%

1Q11 2Q11 3Q11 4Q11 1Q12

Page 12: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

12

EBITDA

IFRS - US$ Million IFRS - R$ Million

EBITDAEBITDA EBITDA MarginEBITDA Margin

2012 Outlook: EBITDA Margin2012 Outlook: EBITDA Margin 11.5% – 12.5%11.5% – 12.5%

156 153188

59

148

14.8%

11.3%

13.8%

2.9%

12.8%

1Q11 2Q11 3Q11 4Q11 1Q12

260 250311

101

264

14.8%

11.5%13.7%

2.8%

12.9%

1Q11 2Q11 3Q11 4Q11 1Q12

Page 13: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

13

Net MarginNet Margin

Net Income

Net IncomeNet Income

IFRS - US$ Million IFRS - R$ Million

105 96

2

-92

63

10.0%7.1%

0.1%

-4.5%

5.4%

1Q11 2Q11 3Q11 4Q11 1Q12

174 154

0

(172)

111

9.9%7.1%

0.0%

-4.7%

5.4%

1Q11 2Q11 3Q11 4Q11 1Q12

Page 14: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

14

Inventories / Free Cash Flow

Free Cash Flow - US$ MillionInventories - US$ Million

2,5612,697

2,872

2,288

2,652

1Q11 2Q11 3Q11 4Q11 1Q12

(126)

(38)

(112)

277

(174)

1Q11 2Q11 3Q11 4Q11 1Q12

Page 15: Embraer Webcast 1Q12 Presentation

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US$ 2.0 BillionUS$ 2.0 Billion

15

Indebtedness Profile Net Cash

Long-termLong-term Short-termShort-term

Loans Average Maturity (Years)Loans Average Maturity (Years)

Indebtedness Maturity Net Cash - US$ Million

Total Debt 1Q12Total Debt 1Q12 Total Cash 1Q12Total Cash 1Q12 US$ 2.3 BillionUS$ 2.3 Billion

505406

193

446

302

1Q11 2Q11 3Q11 4Q11 1Q12

74%85%

10% 13%

90%87% 74%

26%15%

27%

5.75.0

4.54.8

4.2

1Q11 2Q11 3Q11 4Q11 1Q12

Page 16: Embraer Webcast 1Q12 Presentation

This information is the property of Embraer and cannot be used or reproduced without written consent.

Investor Relations

Phone: +55 12 3927 [email protected]

www.embraer.com