Embraer releases first quarter 2014 results

In the first quarter of 2014, Embraer delivered 14 commercial and 20 executive (17 light and 3 large) jets, the Company’s firm order backlog grew to US$19.2bn, reaching its highest level since the second quarter of 2009, mainly as a result of orders in the Commercial Aviation segment. As a result of aircraft deliveries, coupled with revenues from the Company’s growing Defense & Security business, 1Q14 revenues reached US$ 1,242.3m; revenues increased by more than 50% in both the Defense & Security and Executive Jets segments in 1Q14 compared to the prior year’s quarter, in line with the Company’s diversification strategy. EBIT and EBITDA margins were 7.4% and 12.2% respectively. Net income attributable to Embraer Shareholders and Earnings per basic ADS totaled US$110.6m and US$0.6044, respectively. Embraer ended 1Q14 with a net cash position of US$52.7m.