PR Newswire | Apr 29, 2021 06:01AM EDT

04/29 05:00 CDT

Embraer S.A. Releases Its First Quarter 2021 Earnings Results SAO PAULO, April 29, 2021

SAO PAULO, April 29, 2021 /PRNewswire/ --EMBRAER S.A. (NYSE: ERJ; B3: EMBR3) releases its First Quarter 2021 Earnings Results.

HIGHLIGHTS

* 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

US$ Million 1Q20 4Q20 1Q21

Revenue 633.8 1,841.4 807.3

EBIT (46.9) 103.6 (33.1)

EBIT margin % -7.4% 5.6% -4.1%

Adjusted EBIT 8.7 76.6 (29.6)

Adjusted EBIT margin % 1.4% 4.2% -3.7%

EBITDA 9.3 172.6 14.5

EBITDA margin % 1.5% 9.4% 1.8%

Adjusted EBITDA 64.9 145.6 18.0

Adjusted EBITDA margin % 10.2% 7.9% 2.2%

Adjusted net income (Loss) (104.0) (12.5) (95.9)

Adjusted earnings (losses) per share - ADS basic (0.5651) (0.0679) (0.5219)

Net income (loss) attributable to Embraer (292.0) (3.3) (89.7)Shareholders

Earnings (losses) per share - ADS basic (US$) (1.5867) (0.0179) (0.4882)

Adjusted free cash flow (676.5) 725.1 (226.5)

Net debt (1,331.6) (1,695.7) (1,902.2)

For additional information, please check the full document on our websiteri.embraer.com.br

INVESTOR RELATIONS

Eduardo Couto, Chris Thornsberry, Caio Pinez and Viviane Pinheiro. (+55 11) 3040-6874investor.relations@embraer.com.brri.embraer.com.br

CONFERENCE CALL INFORMATIONEmbraer 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) 204-8942Telephones Brazil: +55 (11) 4210-1803 / +55 (11) 3181-8565We recommend calling 15 minutes in advance.

View original content: http://www.prnewswire.com/news-releases/embraer-sa-releases-its-first-quarter-2021-earnings-results-301279649.html

SOURCE Embraer S.A.