SAO PAULO, March 8, 2018 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its fourth quarter and fiscal year 2017 results and 2018 outlook.
- Embraer delivered 23 commercial jets and 50 executive jets (32 light / 18 large) in 4Q17, and in 2017 delivered 101 commercial jets and 109 executive (72 light / 37 large) jets, meeting Guidance for 2017;
- Revenues in 4Q17 reached US$ 1,733.0 million and in 2017 were US$ 5,839.3 million, within the Company's Guidance range of US$ 5.7 to US$ 6.1 billion;
- Adjusted EBIT and adjusted EBITDA excluding special items were US$ 132.7 million and US$ 220.3 million, respectively, in 4Q17, yielding margins of 7.7% and 12.7%. Adjusted EBIT and adjusted EBITDA exclude US$ 66.0 million in net non-recurring charges in 4Q17, mostly related to impairments in the Executive Jets and Defense & Security segments;
- For the full year, adjusted EBIT and adjusted EBITDA were US$ 397.1 million and US$ 712.5 million, respectively, excluding US$ 67.8 million in net non-recurring charges. For 2017, adjusted EBIT margin was 6.8% and adjusted EBITDA margin was 12.2%, which were below the Company's guidance;
- Embraer closed 2017 with adjusted free cash flow generation of US$ 406.7 million in 4Q17, resulting in positive 2017 free cash flow of US$ 404.8 million, significantly above the Company's initial expectations for the year of free cash flow consumption of US$(150) million or better. Embraer finished 2017 with net debt of US$ 310.8 million, an improved position versus net debt of US$ 574.7 million at the end of 2016;
- 4Q17 Net income attributable to Embraer shareholders and Earnings per ADS were US$ 35.2 million and US$ 0.19, respectively. Adjusted net income (excluding the impact of FX-related non-cash deferred income tax and social contribution and non-recurring items) for the quarter was US$ 58.3 million, representing adjusted earnings per ADS of US$ 0.32 in 4Q17. Adjusted net income for 2017 was US$ 279.7 million, representing adjusted earnings per ADS of US$ 1.52 for the year;
- The Company reaffirms its 2018 guidance first published in the 3Q17 earnings release on October 27, 2017.
MAIN FINANCIAL INDICATORS
For additional information, please check the full document in our website ri.embraer.com.br
Eduardo Couto, Chris Thornsberry, Caio Pinez, Nádia Santos, Paulo Ferreira and Viviane Pinheiro.
(+55 12) 3927 1000
Alyssa Ten Eyck
Cell: +1 954 383 0460
Tel.: +1 954 359 3847
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 4Q17 Results on Thursday, March 8, 2017 at 12:30 PM (SP) / 10:30 AM (NY). The conference call will also be broadcast live over the web at ri.embraer.com.br
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SOURCE Embraer S.A.