SÃO PAULO, April 28,
2022 /PRNewswire/ -- EMBRAER S.A. (NYSE: ERJ; B3:
EMBR3) releases its First Quarter 2022 Earnings Results.
HIGHLIGHTS
- Embraer delivered 14 jets in the first quarter,
of which 6 commercial aircraft and 8 executive jets
(6 light and 2 mid-size).
- Firm order backlog ended 1Q22 at US$ 17.3 billion (+US$0.3 billion versus
4Q21). This is the highest quarter backlog since 2Q18,
driven by solid order activity.
- Revenues reached US$ 600.9
million in the quarter, down 26% compared to 1Q21, with
almost one month of production shut down due to system and legal
reintegration of Commercial Aviation in January. In contrast,
reported consolidated gross margin of 20.1% was higher than the
9.5% reported in 1Q21 due to better performance in all
segments.
- Adjusted EBIT and EBITDA were US$ (27.0) million and US$
13.2 million, respectively, yielding Adjusted EBIT
margin of -4.5% and Adjusted EBITDA margin of
2.2%. This includes nonrecurring expenses of US$17 million for the quarter.
- Free cash flow (FCF) in 1Q22 was a usage of
US$ (67.8) million,
representing a significant improvement compared to the US$ (226.6) million in FCF in 1Q21, and best FCF
for 1Q since 1Q10, consistent with working capital optimization
measures and enterprise efficiency.
- FX Variation & Hedge - in 1Q22 we recognized credits
of USD 0.8 million related to payroll
expenses due to cash flow hedge, mitigating our exposure to FX
variation, which is approximately 13% of total costs.
- The Company finished the quarter with total debt of
US$ 3.6 billion, or US$0.5 billion less in line with the strategy to
improve our capital structure.
- We reaffirm all aspects of our 2022 financial and deliveries
guidance, with no material variation.
Main financial indicators
|
in millions of U.S
dollars, except % and earnings per share data
|
|
IFRS
|
1Q21
|
4Q21
|
1Q22
|
|
Revenue
|
807.3
|
1,301.3
|
600.9
|
|
EBIT
|
(33.1)
|
60.6
|
(36.3)
|
|
EBIT margin
%
|
-4.1%
|
4.7%
|
-6.0%
|
|
Adjusted
EBIT
|
(29.6)
|
56.2
|
(27.0)
|
|
Adjusted EBIT margin
%
|
-3.7%
|
4.3%
|
-4.5%
|
|
EBITDA
|
14.5
|
111.4
|
3.9
|
|
EBITDA margin
%
|
1.8%
|
8.6%
|
0.6%
|
|
Adjusted
EBITDA
|
18.0
|
107.0
|
13.2
|
|
Adjusted EBITDA margin
%
|
2.2%
|
8.2%
|
2.2%
|
|
Adjusted net income
(Loss)
|
(95.9)
|
57.2
|
(78.5)
|
|
Adjusted earnings
(losses) per share - ADS basic
|
(0.5219)
|
0.3116
|
(0.4274)
|
|
Net income (loss)
attributable to Embraer Shareholders
|
(89.7)
|
2.1
|
(31.7)
|
|
Earnings (losses) per
share - ADS basic (US$)
|
(0.4882)
|
0.0114
|
(0.1726)
|
|
Adjusted free cash
flow
|
(226.6)
|
452.6
|
(67.8)
|
|
Net debt
|
(1,902.2)
|
(1,392.2)
|
(1,453.2)
|
For additional information, please check the full document on
our website ri.embraer.com.br
INVESTOR RELATIONS
Leonardo Shinohara, Jose Triques,
Caio Pinez, Marilia Saback and
Viviane Pinheiro.
(+55 11)
3040-6874
investor.relations@embraer.com.br
ri.embraer.com.br
CONFERENCE CALL INFORMATION
Embraer will host a conference call to present its 1Q22 Results
on:
Thursday, April 28, 2022 at
09:00 AM (NY Time)
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 / UK: +44 20 3795 9972
Telephones Brazil: +55 (11)
3181-8565 / +55 (11) 4090-1621
We recommend calling 15 minutes in advance.
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SOURCE Embraer S.A.