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June 20, 2007
2007 Air Show Presentation
Results & Performance
Antonio Luiz Pizarro MansoExecutive Vice President
Corporate & CFO
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Forward Looking Statement
•This presentation includes forward-looking statements or statements about events or
circumstances which have not occurred. We have based these forward-looking
statements largely on our current expectations and projections about future events
and financial trends affecting our business and our future financial performance.
These forward-looking statements are subject to risks, uncertainties and
assumptions, including, among other things: general economic, political and business
conditions, both in Brazil and in our market. The words “believes,” “may,” “will,”
“estimates,” “continues,” “anticipates,” “intends,” “expects” and similar words are
intended to identify forward-looking statements. We undertake no obligations to
update publicly or revise any forward-looking statements because of new information,
future events or other factors. In light of these risks and uncertainties, the forward-
looking events and circumstances discussed in this presentation might not occur. Our
actual results could differ substantially from those anticipated in our forward-looking
statements.
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Jet Deliveries
27
36
30
37
25
1Q06 2Q06 3Q06 4Q06 1Q07
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
2.5262.144
3.4413.830 3.807
39,4%
28,1%30,2%
34,1%
37,7%
2002 2003 2004 2005 2006
Net Revenue Gross Margin
Net Revenues and Gross Margin
US$ Million
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
US$ million
Net Revenues and Gross Margin
843
1,084
8941,021
808
28.7%
25.7%27.5%
28.3%28.2%
1Q06 2Q06 3Q06 4Q06 1Q07
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Net Revenue by Segment
1Q06 1Q07
Defense and
Government 10%
Executive
Aviation 11%
Commercial
Aviation 62%
Customer
Services and
Others 17%
Commercial
Aviation
65%
Defense and
Government
5%
Executive
Aviation
14%
Customer
Services and
Others
16%
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
EBIT – EBIT Margin
470
265
544508
308
18,6%
12,3%
15,8%
8,1%
13,3%
2002 2003 2004 2005 2006
Income f rom Operations Margin
US$ Million
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
37
135
4676
5
4,5%
13,2%
5,2%
7,0%
0,5%
1Q06 2Q06 3Q06 4Q06 1Q07
Income f rom Operations EBIT Margin
EBIT – EBIT Margin
US$ Million
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
EBITDA
62
151
7585 23
14,8%
7,6%8,3%
7,8%
2,7%
1Q06 2Q06 3Q06 4Q06 1Q07
Ebitda Ebitda Margin
US$ Million
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
223
136
380
446390
10,20%
11,6%
8,8%
6,3%
11,1%
2002 2003 2004 2005 2006
Net Income Net Margin
Net Income
US$ Million
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Net Income
US$ Million
65
139
61
124
26
3.1%
11.5%
6.9%8.1%
13.6%
1Q06 2Q06 3Q06 4Q06 1Q07
Net Income Net Margin
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Aircraft Financing Support
US$ Million
215.9174.4 164
217.4 223.4
135.5
139.6
32.4
1Q06 2Q06 3Q06 4Q06 1Q07
CCF Acc Rec
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
US$ Million
Inventories
1,648 1,6391,882
2,0472,317
1Q06 2Q06 3Q06 4Q06 1Q07
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
US$ Million
Net Cash (Debt) Position
302
527 507
416
217
1Q06 2Q06 3Q06 4Q06 1Q07
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Total Debt of US$ 1,224.3 Million
• Average cost in R$ = 7.1%p/a
• Average cost in US$ =Libor + 1.69% p/a
Loans
Average Maturity: 4 years and 9 months
Short
Term
36%
Long
Term
64%
Brazilian
Currency
21%
Foreign
Currency
79%
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Loans Maturity
US$ million
4 4 6
9 1
9 93 3
4 9 1
1,2 2 4 6 4
Total Short-
term
2008 2009 2010 2011 after
2011
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Investments
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
R&D – PP&E
111
6450
59
91
70
158173
153 148
206
143
114100
2000 2001 2002 2003 2004 2005 2006
PP&E R&D
US$ Million
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Contributions from Risk Sharing Partners
US$ million
-
246
20
17
42
55
1081
14
To
tal
20
01
20
02
20
03
20
04
20
05
20
06
E
20
07
E
20
08
/20
10
E
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Research & Development Forecast
32
237
59
127
51
2007
48Defense & Government
173TOTAL
61Technology Development
90Executive Aviation
22Commercial Aviation
2008US$ Million
Defense & Government R&D are funded by their contracts and are included as Cost of sales and services
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
PP&E
194
13
104
77
2007
117TOTAL
29Customer Services
36Production Ramp Up
52Productivity
2008US$ Million
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Backlog and Delivery Forecast
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
ERJ 145 Family Order Book
(1st Quarter 2007)
53
53
-
-
Firm
Backlog
8611,046132914Total
679864132732ERJ 145
7474-74ERJ 140
108108-108ERJ 135
DeliveriesTotalOptionsFirm Orders
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
EMBRAER 170/190 Family Order Book
395955144EMBRAER 195
401
262
70
30
Firm
Backlog
2291,188558630Total
65546241327EMBRAER 190
2923513699EMBRAER 175
130290130160EMBRAER 170
DeliveriesTotalOptionsFirm Orders
(1st Quarter 2007)
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Backlog
US$ Billion
10.213.3 14.8 15.0
15.3 15.914.9
18.2 18.2
10.4
1Q06 2Q06 3Q06 4Q06 1Q07
Firm Options
THE INFORMATION CONTAINED HEREIN IS PROPERTY OF EMBRAER AND SHALL NOT BE COPIED OR DISSEMINATED WITHOUT EMBRAER’S WRITTEN CONSENT
Jet Deliveries Forecast
160 161
131
101
148 141130
195/205
165/170
2000 2001 2002 2003 2004 2005 2006 2007E 2008E*
* Includes 15/20 Phenom 100
Investor RelationsPhone: + 5512 [email protected]
