SÃO PAULO, March 14, 2019 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its Fourth Quarter and Fiscal Year 2018 Earnings Results.
Embraer delivered 33 commercial jets and 36 executive jets (24 light / 12 large) in 4Q18, and in 2018 delivered 90 commercial jets and 91 executive jets (64 light / 27 large);
The Company's firm order backlog increased to US$ 16.3 billion at the end of 4Q18, including contracts of the Services & Support segment, up from the US$ 13.6 billion reported at the end of 3Q18;
Revenues in 4Q18 were US$ 1,670.9 million and for fiscal year 2018 were US$ 5,071.1 million, in line with the Company's revised outlook of US$ 5.1 billion disclosed on January 16, 2019;
Adjusted EBIT and adjusted EBITDA excluding special items were US$ 42.5 million and US$ 108.1 million, respectively, in 4Q18, yielding adjusted EBIT margin of 2.5% and adjusted EBITDA margin of 6.5%. Adjusted EBIT and adjusted EBITDA exclude a US$ 61.3 million special item in 4Q18 related to an impairment in the Executive Jets segment;
For 2018, adjusted EBIT and adjusted EBITDA were US$ 223.8 million and US$ 473.7 million, respectively, excluding US$ 188.5 million in total special items. The Company's 2018 adjusted EBIT margin was 4.4% and adjusted EBITDA margin was 9.3%, below the initial outlook published in early 2018 but in line with the updated guidance published in mid-January 2019;
4Q18 Net loss attributable to Embraer shareholders and Loss per ADS were US$ (18.1) million and US$ (0.10), respectively. Adjusted net loss (excluding deferred income tax and social contribution and special items) for 4Q18 was US$ (6.6) million, with Adjusted loss per ADS of US$ (0.04). Embraer reported adjusted net loss in 2018 of US$ (54.2) million, for an adjusted loss per ADS of US$ (0.30);
Embraer generated Free cash flow of US$ 422.0 million in 4Q18, finishing 2018 with an adjusted free cash flow usage of US$ 127.5 million, slightly better than the updated outlook from mid-January. The Company finished the year with total cash of US$ 3,207.8 million and total debt of US$ 3,647.7 million, yielding net debt of US$ 439.9 million versus net debt of US$880.5 million at the end of 3Q18;
The Company reaffirms all aspects of its 2019 guidance disclosed to the market on January 16, 2019.
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
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 4Q18 Results on Thursday, March 14, 2018 at 10:30 AM (SP) / 9:30 AM (NY). The conference call will also be broadcast live over the web at ri.embraer.com.br
Conference ID: EMBRAER
Telephones USA / International: (Toll-free) +1 (866) 262-4553 / (Dial-in) +1 (412) 317-6029
Telephones Brazil: +55 (11) 3193-1001 / +55 (11) 2820-4001
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SOURCE Embraer S.A.