SÃO PAULO, Aug. 13, 2021 /PRNewswire/ — EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its Second Quarter 2021 Earnings Results.
HIGHLIGHTS
- Embraer delivered 14 commercial jets and 20 executive jets (12 light / 8 large) in 2Q21, bringing the year-to-date deliveries to 23 commercial jets and 33 executive jets (22 light /11 large). Following solid sales activity in the period across businesses, total company firm order backlog at the end of 2Q21 was US$ 15.9 billion;
- Revenues in 2Q21 reached US$ 1,130.5 million, representing year-over-year growth of 110.4% compared to 2Q20, with double digit growth in all segments. First half 2021 revenues grew 65.5% compared to the same period of 2020;
- Excluding special items, adjusted EBIT and EBITDA were US$ 104.7 million and US$ 160.7 million, respectively, yielding adjusted EBIT margin of 9.3% and adjusted EBITDA margin of 14.2%. In the first six months of 2021, adjusted EBIT margin was 3.9% and adjusted EBITDA margin was 9.2%;
- Adjusted net income (excluding special items and deferred income tax and social contribution) in 2Q21 was US$ 43.6 million, with adjusted earnings per ADS of US$ 0.24. This is the Company’s first quarterly adjusted net profit reported since the first quarter of 2018;
- Embraer generated free cash flow in 2Q21 of US$ 45.1 million, and in the first half of 2021 free cash usage was US$ (181.4) million. The free cash flow in both periods represented a significant improvement compared to the negative free cash flow in 2Q20 and the first half of 2020 on better profitability and on working capital efficiencies;
- The Company finished the quarter with total cash of US$ 2.5 billion and net debt of US$ 1.8 billion;
- Embraer has issued financial and deliveries guidance for 2021. The Company expects commercial jet deliveries of 45-50 aircraft, executive jet deliveries of 90-95 units, consolidated revenues in a range of US$ 4.0 to $4.5 billion, adjusted EBIT margin of 3.0% to 4.0%, adjusted EBITDA margin of 8.5% to 9.5%, and free cash flow to be within a range of a usage of US$ 150 million to breakeven for the year without M&A or divestitures.
MAIN FINANCIAL INDICATORS
|
IFRS |
1Q21 |
2Q20 |
2Q21 |
YTD21 |
|
Revenue |
807.3 |
537.2 |
1,130.5 |
1,937.8 |
|
EBIT |
(33.1) |
(342.4) |
143.8 |
110.7 |
|
EBIT margin % |
-4.1% |
-63.7% |
12.7% |
5.7% |
|
Adjusted EBIT |
(29.6) |
(140.5) |
104.7 |
75.1 |
|
Adjusted EBIT margin % |
-3.7% |
-26.2% |
9.3% |
3.9% |
|
EBITDA |
14.5 |
(221.1) |
199.8 |
214.3 |
|
EBITDA margin % |
1.8% |
-41.2% |
17.7% |
11.1% |
|
Adjusted EBITDA |
18.0 |
(120.4) |
160.7 |
178.7 |
|
Adjusted EBITDA margin % |
2.2% |
-22.4% |
14.2% |
9.2% |
|
Adjusted net income (Loss) |
(95.9) |
(198.8) |
43.6 |
(52.3) |
|
Adjusted earnings (losses) per share – ADS basic |
(0.5219) |
(1.0801) |
0.2373 |
(0.2848) |
|
Net income (loss) attributable to Embraer Shareholders |
(89.7) |
(315.3) |
87.9 |
(1.8) |
|
Earnings (losses) per share – ADS basic (US$) |
(0.4882) |
(1.7131) |
0.4785 |
(0.0098) |
|
Adjusted free cash flow |
(226.6) |
(472.2) |
45.1 |
(181.4) |
|
Net debt |
(1,902.2) |
(1,800.7) |
(1,840.5) |
(1,840.5) |
For additional information, please check the full document on our website ri.embraer.com.br
INVESTOR RELATIONS
Eduardo Couto, Chris Thornsberry, Caio Pinez, Marilia Saback, and Viviane Pinheiro.
(+55 11) 3040-6874
[email protected]
ri.embraer.com.br
EARNINGS RESULTS EVENT INFORMATION
Embraer will hold an event to discuss its 2Q21 earnings results on Friday, August 13, 2021 starting at 9:30 AM (SP) / 8:30 AM (NY). The financial results presentation will be followed by the ESG Flight Plan event, in which Embraer will announce its commitments toward carbon reduction, social responsibility, and corporate governance standards. Both the financial results presentation and ESG Flight Plan even will be held in English with Portuguese translation via a Reuters platform, and can be accessed via the following web address: http://esgflightplan.splashthat.com/ [esgflightplan.splashthat.com]
During the Q&A session of the event, questions will only be accepted via the chat function in the Reuters platform.
SOURCE Embraer S.A.
