EMBRAER Releases Fourth Quarter and Fiscal Year 2016 Results and 2017 Outlook

SÃO PAULO, March 9, 2017 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) releases its fourth quarter and fiscal year 2016 results and 2017 outlook.

HIGHLIGHTS

• In 4Q16, Embraer delivered 32 commercial and 43 executive (25 light and 18 large) jets. The Company ended 2016 with 108 total commercial aircraft deliveries and 117 executive (73 light and 44 large) jet deliveries, both meeting their respective Guidance for 2016;
• Revenues in 4Q16 reached US$ 2,027.8 million and in 2016 were US$ 6,217.5 million, slightly above the Company's 2016 Revenue Guidance range of US$ 5.8 to US$ 6.2 billion;
• EBIT and EBITDA margins were 13.6% and 18.7%, respectively, in 4Q16, and for fiscal year 2016 the EBIT and EBITDA margins were 3.3% and 8.6%, respectively.
• During 4Q16 and 2016, the Company had several non-recurring items related to the Republic Airways bankruptcy, the voluntary dismissal program, and finalization of the FCPA investigation. Excluding these non-recurring items, adjusted EBIT and EBITDA margins in 4Q16 were 12.1% and 17.2%, respectively. For 2016 adjusted EBIT and EBITDA margins were 8.0% and 13.3%, respectively. Adjusted EBIT and EBITDA margins met their Guidance of 7.0% to 8.0% and 12.7% to 13.5% for 2016, respectively;
• Free Cash Flow adjusted for non-recurring cash impacts was positive in 4Q16, at US$ 285.0 million, while 2016 Adjusted Free Cash Flow was negative, at US$ (359.2) million. Adjusted Free Cash Flow met the Company's guidance for usage of US$ (400) million or better for 2016;
• 4Q16 Net income attributable to Embraer Shareholders and Earnings per ADS were US$ 195.2 million and US$ 1.06 per ADS (US$ 209.1 million and US$ 1.14 per ADS excluding deferred tax and non-recurring items). In 2016 Net income attributable to Embraer Shareholders and Earnings per ADS were US$ 166.1 million and US$ 0.90 per ADS (US$ 290.5 million and US$ 1.58 per ADS excluding items);
• Embraer releases 2017 Guidance for total revenues of US$ 5.7 to US$ 6.1 billion, driven by expected deliveries of 97 to 102 jets in Commercial Aviation and 105 to 125 total jet deliveries in Executive Jets. Consolidated EBIT margin is expected to be within a range of 8.0% to 9.0%, and Guidance for Free Cash Flow is for a usage of US$ (150) million or better for 2017.

Main financial indicators

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

INVESTOR RELATIONS

Eduardo Couto, Chris Thornsberry, Caio Pinez, Nádia Santos, Paulo Ferreira and Viviane Pinheiro. 

(+55 12) 3927-1000

investor.relations@embraer.com.br

http://ri.embraer.com.br 

Follow Embraer's IR Department on twitter: @IREmbraer

CONFERENCE CALL INFORMATION

Embraer will host a conference call to present its 4Q16 Results on Thursday, March 9, 2017 at 12:30PM (SP) / 10:30AM (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) 846-1574

Operator Assisted International Dial-In Number: (708) 290-0687

Your own International Toll-Free number for Brazil: 0800 047 4803 (land line) and 0800 047 4801 (cell phone)

Code: 60338271

Contacts:



Headquarters (Brazil)

Saulo Passos

press@embraer.com.br  

Cell: +55 11 94254 4017

Tel.: +55 11 3040 1799



North America

Alyssa Ten Eyck

aeyck@embraer.com  

Cell: +1 954 383 0460

Tel.: +1 954 359 3847



Europe, Middle East and Africa

Guy Douglas

guy.douglas@nl.embraer.com  

Cel.: +31 (0)657120121

Tel.: +31 (0)202158109



China

Mirage Zhong

mirage.zhong@bjs.embraer.com  

Cell: +86 185 1378 5180

Tel.: +86 10 6598 9988



Asia Pacific

Nilma Missir-Boissac

nilma.boissac@sin.embraer.com  

Cell: +65 9012 8428

Tel.: +65 6305 9955

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SOURCE EMBRAER S.A.