Embraer releases fourth quarter and fiscal year 2016 results and 2017 outlook

rockwell-collins-nbaa
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 EBITDA1 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 nonrecurring

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.

Read the full news release at: https://tinyurl.com/z9tlfqp

 

Be the first to comment on "Embraer releases fourth quarter and fiscal year 2016 results and 2017 outlook"

Leave a comment

Your email address will not be published.


*


Do NOT follow this link or you will be banned from the site!