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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 [email protected]
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