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 EMBRAER Releases 4th Quarter And Fiscal Year 2015 Results And 2016 Outlook
   Thursday, March 03, 2016 5:00:00 AM ET

EMBRAER S.A. (ERJ ) releases fourth quarter and fiscal year 2015 results and 2016 outlook.

HIGHLIGHTS

-- In 4Q15, Embraer delivered 33 commercial and 45 executive (25 light and 20 large) jets. The Company ended 2015 with 101 total commercial aircraft deliveries, surpassing 2015 Guidance. Total executive jet deliveries of 120 aircraft (82 light and 38 large) met the executive jet deliveries Guidance for 2015;

-- Revenues in 4Q15 reached US$ 2,074.4 million and in 2015 were US$ 5,928.1 million, also meeting the Company’s 2015 Revenue Guidance range of US$ 5.8 to US$ 6.3 billion;

-- EBIT and EBITDA margins were 3.1% and 7.9%, respectively, in 4Q15, and for fiscal year 2015 the EBIT and EBITDA margins were 5.6% and 10.9%, respectively.

-- Excluding provisions related to the Chapter 11 filing of Republic Airways Holdings, EBIT and EBITDA margins in 4Q15 were 8.0% and 12.8%, respectively, and for fiscal year 2015 EBIT and EBITDA margins excluding these items were 7.3% and 12.6%, respectively. EBITDA margin excluding these provisions met the Guidance range of 12.6% to 13.6% for the year, though EBIT margin was below Guidance;

-- Free Cash Flow was strong in 4Q15, at US$ 660.0 million, and 2015 Free Cash Flow was US$ 177.8 million. Free Cash Flow was better than 2014 Free Cash Flow usage of US$ (403.6) million. Embraer also finished 2015 with net cash of US$ 7.2 million vs. net debt of US$38.7 million at the end of 2014;

-- 4Q15 Net income attributable to Embraer Shareholders and Earnings per ADS totaled US$ 111.2 million and US$ 0.6091 (US$ 29.7 million and US$ 0.1627 per share excluding deferred tax and provisions relating to Republic’s Chapter 11 filing), respectively, and 2015 Net income attributable to Embraer Shareholders and Earnings per ADS totaled US$ 69.2 million and US$ 0.3787 (US$ 272.0 million and US$ 1.49 per share excluding these items), respectively.

-- Company Guidance for 2016 is for Net Revenues of US$ 6.0 to US$ 6.4 billion. This Guidance is driven by expected deliveries of 105 to 110 jets in Commercial Aviation and 40 to 50 large jets and 75 to 85 light jets in Executive Jets, with Defense & Security revenues of US$ 0.7 to US$ 0.75 billion for the year.

Main financial indicators

in millions of U.S dollars, except % and earnings per share data
IFRS                                                   (1)              (1)              (1)        (2)        (2)
                                                       3Q15             4Q14             4Q15       2014       2015
Revenue                                                1,284.6          2,045.5          2,074.4    6,288.8    5,928.1
EBIT                                                   84.4             196.3            65.3       543.3      331.5
EBIT Margin %                                          6.6%             9.6%             3.1%       8.6%       5.6%
Adjusted EBIT                                          84.4             196.3            166.2      543.3      432.4
Adjusted EBIT Margin %                                 6.6%             9.6%             8.0%       8.6%       7.3%
EBITDA                                                 158.0            281.3            163.6      829.6      648.3
EBITDA Margin %                                        12.3%            13.8%            7.9%       13.2%      10.9%
Adjusted EBITDA                                        158.0            281.3            264.5      829.6      749.2
Adjusted EBITDA Margin %                               12.3%            13.8%            12.8%      13.2%      12.6%
Adjusted Net Income ?                                  71.5             129.4            29.7       413.8      272.0
Net income (loss) attributable to Embraer Shareholders (109.6)          91.4             111.2      334.7      69.2
Earnings (loss) per share - ADS basic (US$)            (0.6013)         0.4983           0.6091     1.8247     0.3787
Net Cash (Debt)                                        (643.9)          (38.7)           7.2        (38.7)     7.2
(1) Derived from unaudited financial information.
(2) Derived from audited financial information.

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

Investor Relations

Eduardo Couto, Caio Pinez, Christopher Thornsberry, Claudio Massuda, Nadia Santos, Paulo Ferreira and Viviane Pinheiro.

(+55 12) 3927-4404investor.relations@embraer.com.brhttp://ri.embraer.com.br Follow Embraer’s IR Department on twitter: @IREmbraer

CONFERENCE CALL INFORMATION

Embraer will host a conference call to present its 4Q14 Results on Thursday, March 3, 2016 at 1:00PM (SP) / 11:00AM (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) 846-1574Operator Assisted International Dial-In Number: (708) 290-0687Your own International Toll-Free number for Brazil: 0800 047 4803 (land line) and 0800 047 4801 (cell phone)Conference ID: 16185757

Contacts:

Headquarters (Brazil) Saulo Passos press@embraer.com.br Cell: +55 11 94254 4017 Tel.: +55 12 3927 1311 Fax: +55 12 3927 2411

North America Alyssa Ten Eyck aeyck@embraer.com Cell: +1 954 383 0460 Tel.: +1 954 359 3847 Fax: +1 954 359 3701

Europe, Middle East and Africa pressEMEA@embraer.fr Cell: +33 6 0864 3545 Tel.: +33 1 4938 4530 Fax: +33 1 4938 4456

China Mirage Zhong mirage.zhong@bjs.embraer.com Cell: +86 185 1378 5180 Tel.: +86 10 6598 9988 Fax: +86 10 6598 9986

Asia Pacific Nilma Missir-Boissac nilma.boissac@sin.embraer.com Cell: +65 9012 8428 Tel.: +65 6305 9955 Fax: +65 6734 3908

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/embraer-releases-4th-quarter-and-fiscal-year-2015-results-and-2016-outlook-300230091.html

SOURCE EMBRAER S.A.

http://rt.prnewswire.com/rt.gif?NewsItemId=BR37931&Transmission_Id=201603030500PR_NEWS_USPR_____BR37931&DateId=20160303



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