Embraer posts second quarter 2017 results

In the second quarter 2017, Embraer delivered 35 commercial and 24 executive (16 light and 8 large) jets, compared to the 26 commercial and 26 executive (23 light and 3 large) jet deliveries in the second quarter 2016. The Company’s firm order backlog ended the quarter at US$18.5bn. Revenues in the second quarter increased 29.5% year-over-year to US$1,769.6m, with significant growth across all three segments. Adjusted EBIT and Adjusted EBITDA margins were 9.3% and 13.9%, respectively. Adjusted EBIT and Adjusted EBITDA exclude US$9.4m in net non-recurring gains in the second quarter 2017 and US$200.0m in non-recurring charges in the second quarter 2016. Adjusted EBIT and Adjusted EBITDA in the quarter were US$164.6m and US$245.4m, respectively. Second quarter 2017 net income attributable to Embraer shareholders and Earnings per ADS were US$59.1m and US$0.32, respectively. Adjusted net income (excluding the impact of FX-related non-cash deferred income tax and social contribution and non-recurring items) for the quarter was US$123.0m, representing Adjusted Earnings per ADS of US$0.67 per basic share in the second quarter 2017. Embraer generated US$220.0m of Adjusted Free cash flow during the second quarter, and over the first six months of 2017 Adjusted Free cash flow was US$20.7m. The Company’s net debt position improved to US$661.5m at the end of the second quarter 2017 from US$805.8m at the end of the first quarter 2017.