Embraer posts third-quarter net loss of US$110m

In the third quarter 2015 Embraer delivered 21 commercial and 30 executive (21 light and 9 large) jets. Deliveries in the first nine months of 2015 were 68 commercial and 75 executive (57 light and 18 large) jets. The Company closed 20 firm orders for the current generation of the E-Jets commercial jets, reaching a total of 146 firm orders of both the current and second generation E-Jets commercial aircraft year-to-date. The Commercial Aviation segment’s book-to-bill surpassed 2 times over the first nine months of 2015. Embraer’s firm order backlog ended at US$22.8bn, compared to US$22.9bn in backlog at the end of the second quarter 2015 and US$20.9bn at the end of 2014. As a result of aircraft deliveries, coupled with revenues from the Company’s Defense & Security business, third quarter revenues were US$1,284.6m, representing year-over-year growth of 3.6%. EBIT and EBITDA margins were 6.6% and 12.3%, respectively, in the third quarter, improving from EBIT margin of 5.5% and EBITDA margin of 11.0% in the third quarter of 2014. Third quarter net loss attributable to Embraer shareholders and loss per basic ADS totaled US$-109.6m and US$-0.6013, respectively. Excluding deferred income tax and social contribution, adjusted net income was US$71.5m. Free Cash Flow during the third quarter was US$-115.3m.