Embraer Releases Second Quarter 2016 Results

SÃO PAULO, July 29, 2016 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) releases its second quarter 2016 results.

HIGHLIGHTS

• In 2Q16, Embraer delivered 26 commercial and 26 executive (23 light and 3 large) jets;
• The Company's firm order backlog ended the quarter at US$ 21.9 billion, compared to US$ 22.9 billion at the end of 2Q15 and $21.9 billion in backlog at the end of 1Q16;
• Revenues in 2Q16 were US$ 1,366.4 million, representing a decline of 9.7% from the same period last year, principally due to lower deliveries in the Executive Jets segment;
• Consolidated gross margin in 2Q16 reached 20.8%, up from the 18.9% registered in 2Q15;
• In 2Q16, the Company booked a US$ 200 million loss contingency in Other operating income (expense), net related to the allegations of non-compliance with the U.S. Foreign Corrupt Practices Act (FCPA);
• Adjusted EBIT and Adjusted EBIT margin in 2Q16, excluding the impact of the loss contingency, was US$ 72.6 million and 5.3%, respectively. Adjusted EBITDA and Adjusted EBITDA margin in the quarter, excluding this impact, was US$ 152.3 million and 11.1%, respectively;
• 2Q16 Net income (loss) attributable to Embraer Shareholders and Earnings per basic ADS totaled US$ (99.4) million and US$ (0.5448), respectively;
• 2Q16 Adjusted Net Income, which excludes non-cash deferred income taxes and social contribution largely related to foreign exchange variation on non-monetary assets, as well as the aforementioned loss contingency, was US$ 44.1 million. Adjusted earnings per basic ADS totaled US$ 0.2417 in 2Q16;
• Embraer is revising its 2016 guidance to incorporate lower estimates for the Executive Jets segment. Please see pages 2 and 3 of this release for additional details.

Main financial indicators

For additional information, please check the full document in our website: http://ri.embraer.com.br

CONFERENCE CALL INFORMATIONEmbraer will host a conference call to present its 2Q16 Results on Friday, July 29, 2016 at 10:30AM (SP) / 9:30AM (NY). The conference call will also be broadcast live over the web at http://ri.embraer.com.br

Telephones:Operator Assisted (US/ Canada) Toll-Free Dial-In Number: (877) 846-1574Operator Assisted International Dial-In Number: (708) 290-0687Your own International Toll-Free number for Brazil: 0800 047 4803 (land line) and 0800 047 4801 (cell phone)Code: 38288857

Headquarters (Brazil) Saulo Passos [email protected]  Cell: +55 11 94254 4017 Tel.: +55 11 3040 1799

North America Alyssa Ten Eyck [email protected]  Cell: +1 954 383 0460 Tel.: +1 954 359 3847

Europe, Middle East and Africa [email protected]  Cell: +55 11 94254 4017 Tel.: +55 11 3040 1799

China Mirage Zhong [email protected]  Cell: +86 185 1378 5180 Tel.: +86 10 6598 9988

Asia Pacific Nilma Missir-Boissac [email protected]  Cell: +65 9012 8428 Tel.: +65 6305 9955  

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SOURCE EMBRAER S.A.