SÃO PAULO, April 29, 2021 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its First Quarter 2021 Earnings Results.
Embraer delivered 9 commercial jets and 13 executive jets (10 light / 3 large) in 1Q21. Total company firm order backlog at the end of 1Q21 was US$ 14.2 billion;
Revenues in 1Q21 reached US$ 807.3 million, representing year-over-year growth of 27.4% compared to 1Q20, 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 1Q21 was US$ (95.9) million, with adjusted loss per ADS of US$ (0.52);
Embraer free cash flow in 1Q21 was a usage of US$ (226.6) million, which is consistent with normal quarterly seasonality of free cash flow usage in the first quarter. The free cash flow usage represented a significant improvement compared to the US$ (676.6) million in free cash flow consumption in 1Q20 on considerably better inventory levels given steps taken to stabilize production and operations in the midst of the COVID-19 pandemic;
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 to not publish 2021 financial and delivery guidance at this point.
MAIN FINANCIAL INDICATORS
EBIT margin %
Adjusted EBIT margin %
EBITDA margin %
Adjusted EBITDA margin %
Adjusted net income (Loss)
Adjusted earnings (losses) per share - ADS basic
Net income (loss) attributable to Embraer Shareholders
Earnings (losses) per share - ADS basic (US$)
Adjusted free cash flow
For additional information, please check the full document on our website ri.embraer.com.br
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 1Q21 Results on Thursday, April 29, 2021 at 11:00 AM (SP) / 10:00 AM (NY). The conference call will also be broadcast live over the web at ri.embraer.com.br
Conference ID: EMBRAER
Telephones USA / Canada: +1 (412) 717-9627 / +1 (844) 204-8942
Telephones Brazil: +55 (11) 4210-1803 / +55 (11) 3181-8565
We recommend calling 15 minutes in advance.
SOURCE Embraer S.A.