- The company reported financial results for the second quarter of 2011, with revenues of $1.97 billion, a 45 aircraft delivery total, and 62 E-Jets sold.
- Gross margins increased to 24.3%, EBITDA was $197 million with a margin of 12.2%, and net income was $126 million.
- The outlook for 2011 was revised upward, with estimated revenues of $5.8 billion, EBIT of $465 million, EBITDA of $700 million, and margins of 8% and 12% respectively. Research spending was confirmed at $90 million while development was lowered to $160 million.
2. Forward Looking Statement
This presentation includes forward-looking statements or statements about events or
circumstances which have not occurred. We have based these forward-looking statements
largely on our current expectations and projections about future events and financial trends
affecting our business and our future financial performance. These forward-looking
statements are subject to risks, uncertainties and assumptions, including, among other things:
general economic, political and business conditions, both in Brazil and in our market. The
words “believes,” “may,” “will,” “estimates,” “continues,” “anticipates,” “intends,” “expects” and
similar words are intended to identify forward-looking statements. We undertake no
obligations to update publicly or revise any forward-looking statements because of new
information, future events or other factors. In light of these risks and uncertainties, the
forward-looking events and circumstances discussed in this presentation might not occur. Our
actual results could differ substantially from those anticipated in our forward-looking
statements.
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3. Recent Highlights
• Market demand – at Paris Air Show four new deals annouced:
Sriwijaya (Indonesia), Kenya Airways, GECAS (U.S.) and Air Lease (U.S.).
• 1H11: delivery of 45 jets and sale of 62 E-Jets, reaching 1,003 firm orders
and 742 deliveries.
• 42 additional aircraft pending final documentation, totaling 104 in 1H11.
• Continuous customer base expansion – three new
airlines added: People’s Viennaline (Austria),
Air Astana (Kazakhstan) and Bulgaria Air.
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4. Recent Highlights
• Strategic cooperation agreement with China’s Minsheng Financial Leasing
for up to 20 executive jets.
• EBACE – first signs of recovery with a couple of orders:
Comlux The Aviation Group – three Legacy 650;
Portugal’s Ricon Group (Everjets) – one Phenom 300.
• Delivery of the 200th Phenom to Swift Aviation Group.
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5. Recent Highlights
• Sale of eight Super Tucano to Indonesian Air Force.
• KC-390 – most of the strategic partnership suppliers selected, including
engine.
• Program entering joint definition phase.
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17. 2011 Outlook Revision
Current Outlook New Outlook
Net Revenues US$ 5.6 billion ~4% US$ 5.8 billion
EBIT US$ 420 million ~11% US$ 465 million
EBIT margin 7.5% 8.0%
EBITDA US$ 610 million ~15% US$ 700 million
EBITDA margin 11.0% 12.0%
18. 2011 Outlook Revision
Current Outlook New Outlook
Research US$ 90 million US$ 90 million
Development US$ 210 million US$ 160 million
CAPEX US$ 200 million US$ 200 million
US$ Million
200
160
90 83 71
38
Research Development CAPEX
YTD Outlook
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