PR Newswire
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.
SOURCE Embraer S.A.