Embraer posts 1st quarter results

In the first quarter of 2013 (1Q13), Embraer delivered 17 commercial and 12 executive (8 light and 4 large) jets; representing a reduction of 4 commercial and 1 executive jets delivered in the same period of 2012, firm order backlog grew to US$13.3bn, mainly as a result of an improvement in the order environment in Commercial aviation, as well as continued orders in the Defense & Security segment. As a result of aircraft deliveries, coupled with revenues from the Company’s growing Defense & Security business, 1Q13 revenues reached US$1,085.9m and gross margin was 22.2% for the period. EBIT and EBITDA margins were 3.6% and 9.2% respectively, in 1Q13, net income attributable to Embraer and earnings per ADS totaled US$30m and US$0.1651, respectively, in 1Q13. Net cash position totaled US$ 98.2m.