Embraer has delivered nine commercial jets and 13 executive jets (ten light / three large) in the first quarter of 2021. The total company firm order backlog at the end of the first quarter was US$14.2 billion. Revenues reached US$807.3 million, representing year-over-year growth of 27.4% compared to the first quarter of 2020, with growth in the Commercial Aviation, Defense & Security, and Executive Aviation segments.
On April 23, the company signed a firm order for 30 E195-E2 jets with an undisclosed customer, with deliveries starting in 2022. The 30 firm orders will be included in Embraer’s second-quarter backlog.
Excluding special items, adjusted EBIT and EBITDA were US$(29.6) million and US$18.0 million, respectively, yielding adjusted EBIT margin of -3.7% and adjusted EBITDA margin of 2.2%. Adjusted net loss (excluding special items and deferred income tax and social contribution) in the first quarter was US$(95.9) million.
The company finished the quarter with total cash of US$2.5 billion and net debt of US$1.9 billion. Due to continued uncertainty related to the COVID-19 pandemic and its impacts on the industry, Embraer has decided not to publish 2021 financial and delivery guidance at this point.