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Embraer march 2016 book ri

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Embraer march 2016 book ri

  1. 1. This information is property of Embraer and can not be used or reproduced without written permission. JANUARY 2016+55 12 3927 4404 | investor.relations@embraer.com.br | www.embraer.com.br MARCH 2016
  2. 2. This information is property of Embraer and can not be used or reproduced without written permission. CORPORATE AND BUSINESS STRATEGY ORGANIC GROWTH MARGINS ENHANCEMENT THROUGH THE P3E BUSINESS AND REVENUES DIVERSIFICATION ORGANIC GROWTH AND ACQUISITIONS ESTABLISH EMBRAER AS THE DEFENSE HOUSE OF BRAZIL PRODUCT STRATEGY DIVERSIFICATION AND EXPANSION OF CUSTOMER BASE EXCELLENCE IN CUSTOMER EXPERIENCE (ECE) MARKET SHARE GROWTH MARGINS IMPROVEMENT PRODUCT STRATEGY AND CUSTOMER SUPPORT FOCUS 2
  3. 3. This information is property of Embraer and can not be used or reproduced without written permission. 15.4 12.4 18.2 20.9 22.5 2011 2012 2013 2014 2015 FIRM ORDER BACKLOG 3 COMMERCIAL AVIATION DEFENSE & SECURITY EXECUTIVE JETS US$ BILLION
  4. 4. This information is property of Embraer and can not be used or reproduced without written permission. 16 22 29 24 38 83 77 90 92 82 2011 2012 2013 2014 2015 105 106 90 92 101 2011 2012 2013 2014 2015 LARGE JETS - LEGACY & LINEAGE LIGHT JETS - PHENOM AIRCRAFT DELIVERIES 95 - 100 E-JETS 35 - 40 EXECUTIVE LARGE JETS 80 - 90 EXECUTIVE LIGHT JETS 4 99 99 120116119 2015 OUTLOOK:
  5. 5. This information is property of Embraer and can not be used or reproduced without written permission. NET REVENUES 2015 OUTLOOK: US$ 5.8 – 6.3 BILLION 5 5,791 6,167 6,235 6,289 5,928 2011 2012 2013 2014 2015 US$ MILLION
  6. 6. This information is property of Embraer and can not be used or reproduced without written permission. 29% 48% 65% 22% 14% 11% 21% 21% 12% 8% 3% 2% 6% 4% 4%9% 4% 4%5% 6% 2% 2013 2014 2015 53% 50% 56% 27% 26% 30% 19% 23% 13% 1% 1% 1% 2013 2014 2015 NET REVENUES BREAKDOWN SEGMENT REGION OTHERS Net Revenues US$ Billion 6.24 6.29 5.93 Net Revenues US$ Billion 6.24 6.29 5.93 NORTH AMERICA BRAZIL EUROPE ASIA PACIFIC SOUTH & CENTRAL AMERICA AFRICA & MIDDLE EAST CHINA 6
  7. 7. This information is property of Embraer and can not be used or reproduced without written permission. BOARD OF EXECUTIVE OFFICERS ETHICS COMMITTEE FINANCIAL MANAGEMENT COMMITTEE SUSTAINABILITY COMMITTEE S H A R E H O L D E R S FISCAL BOARD ENVIRONMENTAL RISK COMMITTEE BOARD OF DIRECTORS INTERNAL AUDIT AUDIT AND RISKS COMMITTEE HUMAN RESOURCES COMMITTEE STRATEGY COMMITTEE COMPLIANCE CORPORATE GOVERNANCE STRUCTURE 7
  8. 8. This information is property of Embraer and can not be used or reproduced without written permission. Ba1 BBB INVESTMENT GRADE SINCE JAN. 2006 EMBRAER CREDIT RATINGS 8
  9. 9. This information is property of Embraer and can not be used or reproduced without written permission. INDEXES & INITIATIVES 9
  10. 10. This information is property of Embraer and can not be used or reproduced without written permission.
  11. 11. This information is property of Embraer and can not be used or reproduced without written permission. OVER 90 AIRLINES IN MORE THAN 60 COUNTRIES 11
  12. 12. This information is property of Embraer and can not be used or reproduced without written permission. 70 - 80 seats 2,100nm (3,900Km) 78 - 88 seats 2,000nm (3,700Km) 98 - 114 seats 2,400nm (4,500Km) 108 - 122 seats 2,200nm (4,100Km) PRODUCT PORTFOLIO 37 seats 1,750nm (3,250Km) 44 seats 1,650nm (3,050Km) 50 seats 1,550nm (2,900Km) 50 seats 2,000nm (3,700Km) 120-136 seats 2,450nm (4,540Km) 97-114 seats 2,800nm (5,200Km) 80-90 seats 1,920nm (3,560Km) 12
  13. 13. This information is property of Embraer and can not be used or reproduced without written permission. E-JETS – GLOBAL MARKET SUCCESS 1,704 ORDERS 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 513AIRCRAFT IN BACKLOG Source: Embraer (Dec./2015) 1,191 DELIVERIES 13
  14. 14. This information is property of Embraer and can not be used or reproduced without written permission. FIRM ORDERS DELIVERIES FIRM BACKLOG 193 190 3 500 331 169 578 523 55 166 147 19 100 - 100 77 - 77 90 - 90 TOTAL 1,704 1,191 513 E-JETS – ORDER BOOK 4Q15 14
  15. 15. This information is property of Embraer and can not be used or reproduced without written permission. DELIVERIES SHARE 70-130 SEATS JETS E-JETS – SHARE AND REGION BREAKDOWN 15 NORTH AMERICA SHARE 76 SEAT JETS - ORDERS SINCE 2013 DELIVERIES BY REGION BACKLOG BY REGION LATIN AMERICA NORTH AMERICA EUROPE CIS MIDDLE EAST AFRICA ASIA PACIFIC CHINA LATIN AMERICA NORTH AMERICA EUROPE CIS OTHERS ASIA PACIFIC CHINA
  16. 16. This information is property of Embraer and can not be used or reproduced without written permission. COMPETITIVE SCENARIO 180+ 160 140 120 100 80 SSJ95/100 MRJ90 ARJ21CRJ900 CRJ1000 CRJ700 CAPACITY (SINGLE CLASS) 737-7 MAXA319neo A320neo 737-8MAX CS100 CS300 E175-E2 E190-E2 E195-E2 E195 E190 E170 E175 16
  17. 17. This information is property of Embraer and can not be used or reproduced without written permission. • REPLACEMENT OF OLD/INEFFICIENT JETS (APROX. 3,250 UNITS) • RIGHT-SIZING OF NARROW-BODY OPERATIONS (APROX. 750 UNITS) • REGIONAL AVIATION, NEW US OPPORTUNITIES AND LCCs (APROX. 1,100 UNITS) EMBRAER MARKET FORECAST (2015 – 2034) 17 CHINA 1,020 JETS (16%) MIDDLE EAST 240 JETS (4%) ASIA PACIFIC 550 JETS (9%) NORTH AMERICA 2,060 JETS (32%) EUROPE 1,160 JETS (18%) LATIN AMERICA 720 JETS (11%) WORLDWIDE 6,350 JETS (70-130 SEATS) US$ 300 BILLION AFRICA 220 JETS (4%) CIS 380 JETS (6%)
  18. 18. This information is property of Embraer and can not be used or reproduced without written permission.
  19. 19. This information is property of Embraer and can not be used or reproduced without written permission. E-JETS EVOLUTION 70 80 90 100 110 120 130 +4 SEATS SAME +14 SEATS 20% 20% 120-136 seats 2,450nm 97-114 seats 2,800nm 80-90 seats 1,920nm 19
  20. 20. This information is property of Embraer and can not be used or reproduced without written permission. FUEL BURN IMPROVEMENTS FUEL BURN PER SEAT Target values for 600 nm sector; Dual Class configuration E175-E2 (80 SEATS) vs E175 (76 SEATS) E190-E2 (97 SEATS) vs E190 (97 SEATS) E195-E2 (120 SEATS) vs E195 (106 SEATS) -16% -16% -24% 0% -5% -10% -15% -20% -25% 20
  21. 21. This information is property of Embraer and can not be used or reproduced without written permission. MAINTENANCE COST IMPROVEMENTS -25% -15% -20% E175-E2 (80 SEATS) vs E175 (76 SEATS) E190-E2 (97 SEATS) vs E190 (97 SEATS) E195-E2 (120 SEATS) vs E195 (106 SEATS) DMC PER SEAT E175 CF34-8E5 baseline per 2011 conditions *2,600FH/Yr & 1.5FH/FC; 10 years DMC E190 CF34-10E6 baseline per 2011 conditions *2,600FH/Yr & 1.5FH/FC; 10 years DMC 0% -5% -10% -15% -20% -25% 21
  22. 22. This information is property of Embraer and can not be used or reproduced without written permission. NEW WING More efficient, high aspect ratio metallic wing. Raked wing tip. IMPROVED AVIONICS 4 larger 13”x10” displays and touchscreen controls MAIN LANDING GEAR Enabling larger engines. Gear doors for improved fuel efficiency OPTIMIZED WING/ENGINE DIFFERENT WING AND ENGINE COMBINATIONS FOR E175-E2 AND E190/195-E2 NEW ENGINES Larger fan diameter and improved fuel efficiency E2 NEW FEATURES 22 |
  23. 23. This information is property of Embraer and can not be used or reproduced without written permission. E195-E2 | EIS 2019 E190-E2 | EIS 1H2018 E175-E2 | EIS 2020 E2 ENTRY INTO SERVICE 23
  24. 24. This information is property of Embraer and can not be used or reproduced without written permission. COMMITMENTS E-JETS E2 640COMMITMENTS (267 FIRM) SKYWEST, INC. 100+100 x E175-E2 AERCAP 50+50 x E190-E2 | E195-E2 AIR COSTA 50+50 x E190-E2 | E195-E2 HAINAN/TIANJIN AIRLINES 2+18 x E190-E2 ICBC LEASING 10+10 x E190-E2 AZUL 30+20 x E195-E2 TRANS STATES HOLDINGS 50+50 x E175-E2 AIRCASTLE 25 +25 x E190-E2 | E195-E2 24
  25. 25. This information is property of Embraer and can not be used or reproduced without written permission.
  26. 26. This information is property of Embraer and can not be used or reproduced without written permission. NEARLY 1,000 JETS DELIVERED IN MORE THAN 60 COUNTRIES 26
  27. 27. This information is property of Embraer and can not be used or reproduced without written permission. SUPER-MIDSIZE PRODUCT PORTFOLIO ENTRY LIGHT MIDLIGHT MIDSIZE LARGE ULTRA-LARGE Certified 2008 Certified 2009 Certified 2015 Certified 2014 Certified 2001 Certified 2010 Certified 2008 Up to 8 occupants | 1,178 nm Up to 11 occupants | 1,971 nm 7 to 9 passengers | 2,900 nm 8 to 12 passengers | 3,125 nm 13 to 14 passengers | 3,400 nm 13 to 19 passengers | 4,600 nm13 to 14 passengers | 3,900 nm • Cessna - Mustang/M2 • HondaJet • Cessna - CJ3+/CJ4 • Bombardier - Learjet 75 • Pilatus - PC-24 • Bombardier - Learjet 75 • Cessna - XLS+/Latitude • Cessna - Sovereign+ • Bombardier - CL350 • Gulfstream - G150 • Gulfstream - G280 • Cessna - Hemisphere • Bombardier - CL650/GL5000 • Dassault - Falcon 2000LXS/900LX/5X • Gulfstream - G450/G500 • Airbus - ACJ 318/319/320 • Boeing - BBJ/BBJ2/BBJ3 • Cessna - X+/Longitude • Dassault - Falcon 2000S 27
  28. 28. This information is property of Embraer and can not be used or reproduced without written permission. DELIVERIES SHARE (UNITS)REVENUES SHARE (US$ BI | B&CA LIST PRICES) MARKET DELIVERIES 2015: 706 UNITS EMBRAER DELIVERIES: 120 UNITS MARKET REVENUES 2015: US$ 22 BILLION EMBRAER REVENUES: US$ 1.7 BILLION MARKET SHARE OTHERS 28 18.1 17.7 21.2 21.8 703 663 677 715 70621.9
  29. 29. This information is property of Embraer and can not be used or reproduced without written permission.29 EXECUTIVE JETS – DELIVERIES EVOLUTION 9 13 13 20 27 36 38 122 145 99 99 119 116 120 976 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 EMBRAER EXECUTIVE JETS DELIVERIES ACCUMULATED FLEET
  30. 30. This information is property of Embraer and can not be used or reproduced without written permission. 0% 4% 8% 12% 16% 20% 24% 28% 0 500 1000 1500 2000 2500 3000 3500 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 %OFACTIVEFLEET UNITS BUSINESS JETS PRE-OWNED MARKET INVENTORY Source: Jetnet and Embraer analysis, December 2015 11.1% 2,280 jets 8.1% 703 jets 30
  31. 31. This information is property of Embraer and can not be used or reproduced without written permission.31 FRACTIONAL SEGMENT – MARKET SHARE 0 20 40 60 80 100 120 2007 2008 2009 2010 2011 2012 2013 2014 2015 Market share 2015 34% OTHERS Source: Jetnet database, February 2016
  32. 32. This information is property of Embraer and can not be used or reproduced without written permission. 0,6 1,1 2014 2015 NORTH AMERICA LATIN AMERICAEUROPE | AFRICAASIA-PACIFIC | CHINA NET BOOK-TO-BILL (US$) 32 IMPROVED SALES PERFORMANCE DELIVERIES: 116 JETS DELIVERIES: 120 JETS 13% 25% 13% 49% 8% 18% 5%68%
  33. 33. This information is property of Embraer and can not be used or reproduced without written permission. DELIVERIES FORECAST (N10Y) 9,100 JETS AND US$ 259 BILLION IN THE NEXT 10 YEARS 2016-2025 MARKET FORECAST PER JET CLASS ͟Note: Sum of jet class numbers might differ from total numbers due to rounding. Units US$ 1,000 5 1,420 13 580 7 1,250 22 1,450 37 1,700 67 1,560 99 140 9 0 200 400 600 800 1.000 1.200 2008 2010 2012 2014 2016 2018 2020 2022 2024 Deliveries(#ofjets) ENTRY LIGHT MIDLIGHT MIDSIZE SUPERMID LARGE ULTRA LARGE U-LONG RANGE 33
  34. 34. This information is property of Embraer and can not be used or reproduced without written permission. NORTH AMERICA 4,850 JETS (54%) US$ 130 BI (50%) EUROPE & AFRICA 2,100 JETS (23%) US$ 64 BI (25%) ASIA PACIFIC, CHINA & MIDDLE EAST 1,500 JETS (16%) US$ 54 BI (21%) LATIN AMERICA 650 JETS (7%) US$ 11 BI (4%) WORLDWIDE 9,100 JETS US$ 259 BILLION 2016-2025 MARKET FORECAST BY REGION Note: sum of regional numbers might differ from total numbers due to rounding Source: Embraer Analysis 34 ASIA PACIFIC, CHINA, MIDDLE EAST 550
  35. 35. This information is property of Embraer and can not be used or reproduced without written permission. 6 5 7 4 1 2 3 EXPANSION 2015 TO 2017 LEGACY 450/500 FINAL ASSEMBLY5 LEGACY 450/500 PAINTING6 LEGACY 450/500 DELIVERY CENTER7 CURRENT FACILITIES PHENOM FINAL ASSEMBLY1 PHENOM PAINTING2 ENGINEERING CENTER3 CUSTOMER CENTER4 35 EXPANDING OPERATIONS IN FLORIDA
  36. 36. This information is property of Embraer and can not be used or reproduced without written permission.
  37. 37. This information is property of Embraer and can not be used or reproduced without written permission. PRODUCTS AND SOLUTIONS IN MORE THAN 60 COUNTRIES 37
  38. 38. This information is property of Embraer and can not be used or reproduced without written permission. SATELLITE INTEGRATED PORTFOLIO RADARC4I • C2 & C4I SYSTEMS • AIRBORNE SYSTEMS • SIMULATION • CONTROL SYSTEMS • AIR TRAFFIC SYSTEM • LAND DEFENSE SYSTEMS INTEGRATION • SISFRON IMPLEMENTATION • MRO • AEROSTRUCTURES • REMOTE SENSING • AERIAL SURVEILLANCE RADAR • SATELLITE GEOSTATIONARY OF DEFENSE AND COMMUNICATIONS (SGDC) 100% 65%100% 100%51% PARTNERSHIPS TRANSPORT AIRCRAFT TACTICAL MILITARY TRANSPORT MODERNIZATION PROGRAMS LIGHT ATTACK AND ADVANCED TRAINING ISR SOLUTIONS LAND SYSTEMS SERVICES 38
  39. 39. This information is property of Embraer and can not be used or reproduced without written permission. 227 346 505 499 670 852 1,056 1,197 1,456 811 6% 7% 8% 9% 13% 15% 17% 19% 23% 14% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 EMBRAER DEFENSE & SECURITY RESULTS REVENUES PARTICIPATION (%) 39 REVENUES EVOLUTION (US$ MILLION) BACKLOG EVOLUTION (US$ BILLION) 1.1 1.0 1.5 3.2 3.3 3.3 3.4 3.6 5.5 4.7 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
  40. 40. This information is property of Embraer and can not be used or reproduced without written permission. • NEW TACTICAL MILITARY TRANSPORT AND TANKER AIRCRAFT • PARTNERSHIP WITH BOEING TO SHARE TECHNICAL KNOWLEDGE AND SELL THE KC-390 • BRAZILIAN GOVERNMENT AND EMBRAER SIGNED CONTRACT FOR 28 KC-390 • OTHER FIVE LOIs (32 AIRCRAFT) • CERTIFICATION EXPECTED BY 2H2017 • FIRST DELIVERY TO BRAZILIAN AIR FORCE IN 1H2018 • SECOND PROTOTYPE ASSEMBLED AND JOINING THE FLIGHT TEST CAMPAIGN • NEARLY 90% OF PROGRAM DEVELOPMENT COMPLETED TOTAL MARKET FORECAST 2025: 700 AIRCRAFT / US$ 50+ BI BRAZIL: 28 COLOMBIA: 12 ARGENTINA: 6 CHILE: 6 PORTUGAL: 6 CZECH REP.: 2 EMBRAER KC-390 40
  41. 41. This information is property of Embraer and can not be used or reproduced without written permission. BRAZIL: 99 COLOMBIA: 25 DOMINICAN REPUBLIC: 8 CHILE: 12 ECUADOR: 18 INDONESIA: 16 MAURITANIA: 2 BURKINA FASO: 3 ANGOLA: 6 USA: 21 MALI: 6 GHANA: 5 LEBANON: 6 UNDISCLOSED: 2 FIRM ORDERS: NEARLY 230 AIRCRAFT OVER 190 AIRCRAFT DELIVERED TOTAL MARKET FORECAST: 300 AIRCRAFT / US$ 3.5 BILLION SUPER TUCANO 41
  42. 42. This information is property of Embraer and can not be used or reproduced without written permission. SISFRON INTEGRATED BORDERS MONITORING SYSTEM FIRST PHASE: US$ 420 MILLION TOTAL ESTIMATE: US$ 4 BILLION COMPRISING RADARS, COMMUNICATION NETWORKS, C4I, UNMANNED AIR VEHICLES (UAV) AND ARMORED VEHICLES SATELLITE BRAZILIAN GEOSTATIONARY DEFENSE AND COMMUNICATION SATELLITE PROGRAM (SGDC) TOTAL ESTIMATE: US$ 400 MILLION PARTICIPATION IN THE FIRST BRAZILIAN GEOSTATIONARY SATELLITE BRAZILIAN ARMY PRIORITIES 42
  43. 43. This information is property of Embraer and can not be used or reproduced without written permission. BRAZILIAN GOVERNMENT CONTRACTED SAAB TO SUPPLY 36 GRIPEN NG FIGHTER JET CONTRACT BETWEEN EMBRAER AND SAAB FINALIZED (EFFECTIVE AND RUNNING) FIRST GROUP OF 46 BRAZILIAN ENGINEERS IN SWEDEN SINCE OCTOBER 2015 GRIPEN DESIGN AND DEVELOPMENT CENTER UNDER CONSTRUCTION IN GPX SITE NEW BRAZILIAN FIGHTER (F-39 GRIPEN) 43
  44. 44. This information is property of Embraer and can not be used or reproduced without written permission. GRIPEN GAVIÃO PEIXOTO (GPX) SITE 44 CONCENTRATING DEFENSE ACTIVITIES EXPANSION NEW GRIPEN DESIGN AND DEVELOPMENT CENTER5 CURRENT FACILITIES STRUCTURAL ASSEMBLY WINGS ST & KC-390 FUSELAGE KC-390 MODERNIZATION A4, AMX & F-52 FINAL ASSEMBLY ST3 FINAL ASSEMBLY KC-3904 1 1 2 3 4 5
  45. 45. This information is property of Embraer and can not be used or reproduced without written permission. FINANCIAL RESULTS
  46. 46. This information is property of Embraer and can not be used or reproduced without written permission. 113 86 100 78 97 55 43 47 43 50 4Q14 1Q15 2Q15 3Q15 4Q15 2,046 1,056 1,513 1,285 2,074 4Q14 1Q15 2Q15 3Q15 4Q15 NET REVENUES SG&A EXPENSES NET REVENUES | SG&A EXPENSES SELLING EXPENSESG&A EXPENSES 2015 OUTLOOK: US$ 5.8 – 6.3 BILLION 2015: 5,928 147 168 121 147 129 2015: 544 46 US$ MILLION
  47. 47. This information is property of Embraer and can not be used or reproduced without written permission. 975 662 883 688 1,115 4Q14 1Q15 2Q15 3Q15 4Q15 359 213 216 182 200 4Q14 1Q15 2Q15 3Q15 4Q15 690 167 404 402 746 4Q14 1Q15 2Q15 3Q15 4Q15 2,045 1,056 1,513 1,285 2,074 4Q14 1Q15 2Q15 3Q15 4Q15 NET REVENUES BY SEGMENT OUTLOOK: US$ 1.70 – 1.85 BILLION OUTLOOK: US$ 0.80 – 0.95 BILLION OUTLOOK: US$ 3.20 – 3.40 BILLIONOUTLOOK: US$ 5.80 – 6.30 BILLION 2015: 5.93 BILLION 2015: 3.35 BILLION 2015: 1.72 BILLION 2015: 0.81 BILLION 47
  48. 48. This information is property of Embraer and can not be used or reproduced without written permission. INCOME FROM OPERATIONS (EBIT) | EBITDA EBIT EBITDA EBIT EBIT MARGIN EBITDA EBITDA MARGIN 2015 OUTLOOK: US$ 490 – 560 MILLION | 8.5% – 9.0% 2015 OUTLOOK: US$ 730 – 860 MILLION | 12.6% – 13.6% 2015: 332 | 5.6% 2015: 648 | 10.9% 48 US$ MILLION 166 196 80 102 84 65 9.6% 7.5% 6.8% 6.6% 3.1% 4Q14 1Q15 2Q15 3Q15 4Q15 8.0% EXCLUDING REPUBLIC EFFECT EXCLUDING REPUBLIC EFFECT 281 149 178 158 164 13.8% 14.1% 11.7% 12.3% 7.9% 4Q14 1Q15 2Q15 3Q15 4Q15 12.8% 264
  49. 49. This information is property of Embraer and can not be used or reproduced without written permission. 288 (440) 73 (115) 660 (440) (367) (482) 178 4Q14 1Q15 2Q15 3Q15 4Q15 NET INCOME FREE CASH FLOW NET INCOME | FREE CASH FLOW NET MARGINNET INCOME 2015 OUTLOOK: FCF > (US$ 100) MILLION 2015: 69 | 1.2% 2015: 178 49 US$ MILLION 91 (62) 129 (110) 111 4.5% -5.8% 8.5% -8.5% 5.4% 4Q14 1Q15 2Q15 3Q15 4Q15 8.6% 178 EXCLUDING REPUBLIC EFFECT FREE CASH FLOW ACCUMULATED 2015
  50. 50. This information is property of Embraer and can not be used or reproduced without written permission. 42 288 188 50 300 300 RESEARCH DEVELOPMENT CAPEX 2,405 2,696 2,640 2,763 2,315 4Q14 1Q15 2Q15 3Q15 4Q15 INVENTORIES | INVESTMENTS 50 INVENTORIES INVESTMENTS 2015 OUTLOOK: US$ 650 MILLION US$ MILLION 2015: 518 2015 YTD 2015 OUTLOOK
  51. 51. This information is property of Embraer and can not be used or reproduced without written permission. (39) (535) (465) (644) 7 4Q14 1Q15 2Q15 3Q15 4Q15 96% 89% 90% 91% 94% 4% 11% 10% 9% 6% 5.4 5.3 6.5 6.5 6.2 4Q14 1Q15 2Q15 3Q15 4Q15 INDEBTEDNESS PROFILE | NET CASH INDEBTEDNESS MATURITY NET CASH (DEBT) - US$ MILLION LONG-TERM SHORT-TERM LOANS AVERAGE MATURITY (YEARS) TOTAL DEBT 4Q15: US$ 3.530 BILLION TOTAL CASH 4Q15: US$ 3.538 BILLION 51
  52. 52. This information is property of Embraer and can not be used or reproduced without written permission. USD DEBT 2,701 77% BRL DEBT 807 23% EUR DEBT 22 1% 1,014 2,524 197 424 245 101 228 102 549 540 43 1,034 45 CASH 4Q15 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026-2037 INDEBTEDNESS PRINCIPAL MATURITIESCASHLOCALCASHABROAD PRINCIPAL MATURITIES: US$ 3.530 BILLION 3,538 52 US$ MILLION
  53. 53. This information is property of Embraer and can not be used or reproduced without written permission. EPADS AND PAY OUT EPADS PAY OUT 53 US$ 1.49 ADJUSTED EPADS 0.62 1.92 1.88 1.82 0.38 116% 26% 26% 27% 49% 2011 2012 2013 2014 2015
  54. 54. This information is property of Embraer and can not be used or reproduced without written permission. 736,951,302 VOTING SHARES OWNERSHIP STRUCTURE – 4Q15 54 NYSE 58% BM&F BOVESPA 42% 17% 83% LOCAL SHAREHOLDERS INTERNATIONAL SHAREHOLDERS
  55. 55. This information is property of Embraer and can not be used or reproduced without written permission. 2016 OUTLOOK
  56. 56. This information is property of Embraer and can not be used or reproduced without written permission. NET REVENUES US$ 6.00 – 6.40 BILLION 2016 CONSOLIDATED OUTLOOK 12% OF NET REVENUES US$ 0.70 – 0.75 BILLION 1% OF NET REVENUES US$ 100 MILLION 30% OF NET REVENUES US$ 1.75 – 1.90 BILLION 57% OF NET REVENUES US$ 3.45 – 3.65 BILLION DELIVERIES 105 TO 110 E-JETS OTHER REVENUES 75 TO 85 LIGHT JETS 40 TO 50 LARGE JETS 56 DELIVERIES
  57. 57. This information is property of Embraer and can not be used or reproduced without written permission. EBITDA MARGIN 13.3% – 13.7% EBITDA US$ 800 – 870 MILLION EBIT MARGIN 8.0% – 8.5% EBIT US$ 480 – 545 MILLION FCF > (US$ 100) MILLION 2016 CONSOLIDATED OUTLOOK RESEARCH US$ 50 MILLION DEVELOPMENT US$ 325 MILLION CAPEX US$ 275 MILLION INVESTMENTS US$ 650 MILLION 57 FCF USE OF LESS THAN US$ 100 MILLION
  58. 58. This information is property of Embraer and can not be used or reproduced without written permission. +55 12 3927 4404 | investor.relations@embraer.com.br | www.embraer.com
  59. 59. This information is property of Embraer and can not be used or reproduced without written permission. This presentation may contain forward-looking statements, projections and estimates regarding circumstances or events yet to take place, including, but not limited to, those statements relating to guidance. These forward- looking statements are based largely on current expectations, forecasts of future events and industry and financial trends that affect Embraer’s businesses. These statements are subject to risks, uncertainties and assumptions that include, among others: general economic, political and trade conditions, both in Brazil and in those markets where Embraer does business; management’s expectations and estimates concerning the company’s future financial performance; plans and objectives of our management; financing plans and programs, and the effects of competition; industry trends and growth opportunities; inflation and fluctuations in exchange rates; the company’s investment plans; Embraer’s operating efficiencies and synergies and its capacity to develop and deliver products on the dates previously agreed upon; results of operation; business strategies; benefits of new technologies and existing and future governmental regulations. To obtain further information on factors that may lead to results different from those forecast by Embraer, please consult the reports Embraer files with the U.S. Securities and Exchange Commission (SEC) and the Brazilian Comissão de Valores Mobiliários (CVM) and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Embraer’s annual report on Form 20−F. The words “believe”, “may”, “will”, “estimate”, “intend”, “continue”, “anticipate”, “expect” and other similar terms are intended to identify forward-looking statements. Embraer does not undertake any obligation to publish updates or to revise any forward-looking statements due to new information, future events or any other factors. In view of the inherent risks and uncertainties, such estimates, events and circumstances may not occur. The actual results and performance of Embraer could therefore differ substantially from those anticipated in Embraer's forward-looking statements. FORWARD LOOKING STATEMENT 59

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