ERJ - EMBRAER (B3: EMBR3 NYSE: ERJ) RELEASES ITS 4th QUARTER 2022 EARNINGS RESULTS

PR Newswire

SAO PAULO , March 10, 2023 /PRNewswire/ --

HIGHLIGHTS

• Embraer delivered 80 jets in the fourth quarter, of which 30 commercial aircraft and 50 executive jets (33 light and 17 mid-size). In 2022 , a total of 159 jets were delivered of which 57 commercial aircraft and 102 executive jets (66 light and 36 mid-size). Embraer increased the number of aircraft delivered by 12.7% compared with 2021, even with significant supply chain constrains.
• Firm order backlog ended 4Q22 at US$ 17.5 billion , US$ 500 million higher y-o-y with a higher book-to-bill in Executive Aviation and Services & Support .
• Revenues reached US$ 2.0 billion in the quarter (53% higher than 4Q21) and US$ 4.5 billion in 2022, in line with Company guidance.
• Adjusted EBIT ( US$ 166.2 million in 4Q22, 196% higher than 4Q21) and EBIT and EBITDA margin of 8.3% and 11.5% in 4Q22, respectively, contributed for yearly results of 6.0% and 10.1%, surpassing guidance of 2022, driven by volume/mix, enterprise and tax efficiencies, partially offset by provision and SG&A.
• Adjusted Free Cash Flow w/o EVE (FCF) in 4Q22, with cash generation of US$ 584.3 million , leading to full year FCF of US$ 540.1 million in 2022 , surpassing FCF guidance for the year due to outstanding results and sales performance from Executive Aviation and very strict control over working capital.
• Net Debt w/o EVE/Adjusted EBITDA ratio decreased from 3.9x in 2021 to 2.1x in 2022 , with strong FCF and EBITDA performance.

Guidance for 2023 : commercial jet deliveries of 65-70 aircraft, executive jet deliveries of 120-130 aircraft, revenues in a range of US$ 5.2 to US$ 5.7 billion , Adjusted EBIT margin of 6.4% to 7.4%, Adjusted EBITDA margin of 10.0% to 11.0%, and adjusted free cash flow of US$ 150 million or better for the year.

PRESS OFFICES: Headquarters ( Brazil ), Corporate Communications, embraer@idealhks.com , Cell: +55 11 98890 7777, Tel.: +55 11 4873 7984

SOURCE Embraer S.A.