Encontro de investidores em ny apresentação resultados financeiros

Results & Performance

Antonio Luiz Pizarro Manso

Executive Vice- President Corporate and CFO

Jet Deliveries

101

141148

96

59

160 161

131

1998 1999 2000 2001 2002 2003 2004 2005

Net Revenue

US$ Million

2,9272,526

2,144

3,4413,830

39.6%

30.2%

34.1%37.7%39.4%

2001 2002 2003 2004 2005

Net Revenue Gross Margin

Income from OperationsUS$ Million

462

651

470

265

544 505

16.7%

22.3%

18.6%

15.8%

13.2%12.3%

2000 2001 2002 2003 2004 2005

EBIT Margin

Net IncomeUS$ Million

328

223

136

380446

11.6%11.1%11.2%

8.8%

6.3%

2001 2002 2003 2004 2005

Net Income Net Margin

Accounts Receivable

597

736

356

686

451

2001 2002 2003 2004 2005

• US$ Million

US$ Million

Inventories

1.038880

1.1731.428 1.511

2001 2002 2003 2004 2005

Total Debt of US$1,553.4 Million

• Average cost in R$ = 12.28% p/a

• Average cost in US$ = 6.35% p/a

Loans

Long-Term Loan Average Maturity: 2 years and 5 months

Long Term 69%

Short Term 31%

Brazilian Currency

14%

Foreign Currency

86%

Loans Maturity

US$ million

475

315

308

201

254

1,553

Total Short-term 2007 2008 2009 Beyond2010

Net Cash (Debt)

-22

104

222

22

360

2001 2002 2003 2004 2005

US$ million

US$ Million

Dividends

YIELD 4.58 3.791.09 2.77

10468

204187

47%50%

54%

63%

2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5

D ividends P ay -O u t R a t io

Investments

US$ million

PP&E and Gross R&D

*Gross R&D amounts. Does not take into considerationcontributions from risk-sharing partners

111

6450 59

72 6270

158173

153 148

200 189

143114

100

2000 2001 2002 2003 2004 2005 2006E 2007E

PP&E R&D

Contributions from Risk Sharing Partners

US$ million

-246

20

17 42

55

108114

Total

2001

2002

2003

2004

2005

2006E

2007E

2008/2010E

Investments Forecast

R&D Total

- Airline Market

- Business Jet Market

- Others

Defense

20072006

200

88

70

42

18

189

54

88

47

21

Productivity and PP&E 72 62

TOTAL 290 272

US$ million

Defense investments are funded by their contracts and are not included in R&D expenses but in Cost of Sales and Services.

Does not include future programs

Backlog and Deliveries

Order Backlog

10.7 9.0 10.6 10.1 10.4

12.7 13.217.5 17.5 13.6

2001 2002 2003 2004 2005

Firm Orders Options

US$ Billion

Projected Deliveries

101

141 145 150148

96

59

160 161

131

1998 1999 2000 2001 2002 2003 2004 2005 2006E 2007E

Projected Deliveries

37%

9% 7%

51%

76% 79%

12% 15% 14%

2005 2006E 2007E

ERJ 145 family EMBRAER 170/190 family Legacy 600

Investor RelationsPhone: + 5512 3927-4404investor.relations@embraer.com.brwww.embraer.com.br